Full and 'FINAL' Settlement Letters

keith_lard

Hi all,
Want to ask who of you have had settlement letters from DCA and Creditors offering you 75% - 60% - 50% of the ballance to close the account?

What do you do to do this, I have read they will accept the payment but the rest can be sent on to a third party (another DCA) and the debt is not cleared even when you have gone out your way to clear it!

Does anyone have a format letter I can use?

Capital One are offering me a 50% Final settlement offer


What and How do I go about doing this????


Thank you to all that reply!

K.:A :A :A :A

file_wizzard

The key point here is that any FULL & FINAL settlement offer should be made from, and paid by a 3rd party, and not directly by yourself, in this way the settlement will be legally binding, and no further sums will become due.

Many DCA’s / creditors will offer a full and final only to chase for the rest at a later date, therefore always ensure that you received a letter of acceptance for the 3rd party settlement before any payments are made