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Short Settlement - Please Help!

Firefly
Posts: 3,024 Forumite

I'm within a hairs bredth of being debt free. :j
The fly in the ointment is Rockwell Debt Collection who have taken on an old M&S debt. I offered a verbal settlement on the phone and they came back to say it was approved by M&S and could I pay by debit card over the phone there and then. I couldn't and asked for confirmation in writing this would be full and final, they would mark my account settled and update credit report accordingly.
They wrote back to tell me that the payment will be accepted in short settlement of my indebtedness to their client - Full Stop. End of letter.
I've spoken to them again today (they call me every day!) and explained I want a Full and Final with zero balance.
The only option I have seems to be for them to mark my file with 'short settlement' and my file will show the remainder of the balance outstanding.
However, because my original default on this payment was nearly 8 yrs ago, it doesn't show on my credit report from Experian or Equifax. I haven't checked Call Credit.
Does anyone know if this will be satisfactory? Will they put it back onto my credit report if finalised?
I know I need them to confirm in writing that they won't pursue me for the remainder.
Any advice would be welcome.
The fly in the ointment is Rockwell Debt Collection who have taken on an old M&S debt. I offered a verbal settlement on the phone and they came back to say it was approved by M&S and could I pay by debit card over the phone there and then. I couldn't and asked for confirmation in writing this would be full and final, they would mark my account settled and update credit report accordingly.
They wrote back to tell me that the payment will be accepted in short settlement of my indebtedness to their client - Full Stop. End of letter.
I've spoken to them again today (they call me every day!) and explained I want a Full and Final with zero balance.
The only option I have seems to be for them to mark my file with 'short settlement' and my file will show the remainder of the balance outstanding.
However, because my original default on this payment was nearly 8 yrs ago, it doesn't show on my credit report from Experian or Equifax. I haven't checked Call Credit.
Does anyone know if this will be satisfactory? Will they put it back onto my credit report if finalised?
I know I need them to confirm in writing that they won't pursue me for the remainder.
Any advice would be welcome.
Do not allow the risk of failure to stop you trying!
0
Comments
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Uh Oh! :whistle:
Isn't there anyone who has words of wisdom to offer?Do not allow the risk of failure to stop you trying!0 -
This sounds like something Mike St Helens could answer - assuming he's not too hung over this morning!Debt at highest: £6,290.72 (14.2.1999)
Debt free success date: 14.8.2006 :j0 -
Sorry - here's the link to his thread: http://forums.moneysavingexpert.com/showthread.html?t=250861Debt at highest: £6,290.72 (14.2.1999)
Debt free success date: 14.8.2006 :j0
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