Is this letter ok? shall i make payment?

NG7

I've received a letter from CCI

'With reference to the above account, we have had confirmation from our client that they are willing to accept £500.00 as a full and final figure to clear the outstanding account on the condition payment is made within 14days from todays date. Failure to pay the reduced amount within this time period will result in the offer being retracted and full sum being due for immediate payment.
Please contact CCI immediatly to make your payment'

Is now ok to make the payment? I'm a bit concerned about them selling the debt on but it does clearly say full and final figure.

DarkConvict

Full and final is the wording for the offer, but you do need to have the terms clearly laid out.

Reply to them with the same offer or counter offer, but using the national debtline template. - (in drop down list - full and final... ) http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

Add in this is a reply to there offer, but with the specific terms set out below. Importantly you need a credit file update, your liability to the debt be released, and neither the original creditor or 3rd party will presue the remainder.

NG7

How does this sound??

[FONT=&quot]I write with reference to the money which you are claiming on the above account.[/FONT]
[FONT=&quot]I received your letter dated 28/07/2010, confirming that your client has agreed to a full and final settlement.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]I am willing to pay £500 as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released for any liability.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]I also request that, if accepted, you will make an entry on a credit reference agency file relating to the above account as "satisfied" in full.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Payment can be made within 7 days of receiving your written agreement of this offer and method of payment.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]I look forward to receiving your reply.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Yours faithfully[/FONT]

Pott5y

I strongly agree with both DarkConvict and NG7.

I am going through this myself and it is very important you get these addtional points clarified in writing prior to sending any payment.

Also if possible ask a family member if they can send the payment on your behalf (more legally binding that way) and keep the all letters confirming the agreement for at least 6 years.

This is all to just ensure that you do not get bitten by this debt again.

Good luck!!