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FULL & FINAL Settlement Advice
chili_pea
Posts: 57 Forumite
Hello!
By the end of this week i shall be making a full & final payment to Allied International Debt Collectors. I wanted to get the experience from some one else who may have dealt with these collectors, I have had a letter back from them saying on the lines that they will accept my final remitance of the offer and neither them or the above company (Natwest) will pursue me any further......
Reason im so cautious is i have heard horror stories about companies passing your debt on to another, i just spoke to them and over the phone Mr Miller re assures me its very unlikely i wont be chased elsewhere, they dont like giving yes or no answers do they!
Has anyone else been through this with same company? did it go smoothly after? or are other companies now chasing you?
cheers
By the end of this week i shall be making a full & final payment to Allied International Debt Collectors. I wanted to get the experience from some one else who may have dealt with these collectors, I have had a letter back from them saying on the lines that they will accept my final remitance of the offer and neither them or the above company (Natwest) will pursue me any further......
Reason im so cautious is i have heard horror stories about companies passing your debt on to another, i just spoke to them and over the phone Mr Miller re assures me its very unlikely i wont be chased elsewhere, they dont like giving yes or no answers do they!
Has anyone else been through this with same company? did it go smoothly after? or are other companies now chasing you?
cheers
0
Comments
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I have not used them but the terms you are looking for are,
A written offer for the settlement.
The settlement is for the debt in full.
Your credit file will be updated to show the account and any related default as satisfied and the balance set to £0/nil
Neither the original creditor or another 3rd party will attempt to collect or chase the remainder of the debt, as the settlement is considered payment in full.
BOLD - Thats the important bit, you need to keep the letter for 6 years incase anyone does try to chase it,Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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