We're aware that dates on the forum are not currently showing correctly, and that mobile users may see some extra spacing between threads. Please bear with us while we get this fixed.
We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that dates on the Forum are not currently showing correctly, and that mobile users may see some extra spacing between threads. Please bear with us while we get this fixed, and see Site Feedback for updates.

Short Settlement - Please Help!

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.
Do not allow the risk of failure to stop you trying!

Comments

This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.3K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 240.9K Work, Benefits & Business
  • 617.1K Mortgages, Homes & Bills
  • 175.6K Life & Family
  • 254.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.