Settle or not?

angelcakes_smw

Hi, I was just wondering if it is always best to settle if the offer is there (and you can afford to do so obviously) or should you just continue to pay off the full balance in the agreed installments? If I settled it would save me £103.04 but I dont know whether skinting myself to do it is a good idea or not. ARGH! can you help?

Tixy

If you can afford it I would say yes providing they agree to update your credit file to settled (not partially or short settled).
If they want to put partially settled down then I think its questionable as to whether its a good idea (totally depends on the indivdual and their particular situation though).

angelcakes_smw

So should I phone them and ask if they are going to do this before I make a decision? also, I've read people saying 'get it in writing before you pay'...should I ask for the offer to be sent to me asap and what if it doesnt get to me before the deadline of the offer?

yorkshire-lad

i think the best thing for you to do, is give them a call and ask them if they will update your credit file to settled, and if they say yes, you need to get all this in writing with the F+F settlement figure. you need to cover your back just incase anything pops up in a few years time.

Tixy

Hi

Read this link for info - http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

pagenotfound2k

Would somebody be good enough to look at my thread, as I need some advice ASAP - copy and paste this into your browser's address bar (forums won't let me post as I still a new user):-
forums.moneysavingexpert.com/showthread.html?t=2306541