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Final Settlement Offer advise please

Hi all - sorry if this is in the wrong section (please feel free to put in the correct one)
I made a claim on my Virgin CC ppi back in feb due to getting made redundant - just been told after all this time they are not paying out so I'm putting in a claim for mis-selling, currently claiming JSA so I've not been able to make a payment since Feb, my min payment this month is touching £700:eek: - my question is how do final settlement offers work? - I'm going to see my mam this weekend and hopefully be able to borrow about £1000 (my balance must be around 5.5k), sorry for sounding so naive but not been in this position before, many thanks

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