Full and final payments and telling Payplan

Pott5y

I have recently settled on 2 of my creditors with Full and Finals.

Ind Finance cheque was sent nearly 2 weeks ago but still not cashed, and Wescot cheque will be with them tomorrow.

I have a payment due out to them from Payplan over the next week or so. Do I wait until the cheques have cleared before letting Payplan know. I don't want any silly upsets for the sake of a small additional payment being made to these two.

Thanks for any help

Marisco

I'd tell Payplan that you have sent cheques to the 2, then they can cancel payment to those two, otherwise they'll have the cheques and the extra payments, and I doubt they'd send the extra back!!!

InDeepDebt

If it was all agreed by letter that you would pay £x as full and final, I'd not pay any more so advise payplan.

Jim

Pott5y

Does anyone know how long before some of these companies actually pay in the cheques we send them.

I.F. have had the F & F payment for nearly 10 days and it has still not been cleared. After all their chasing you would have thought they would want to get the money paid in.

I am just a bit concerned that there is something underhand going on which is why I was concerned about telling Payplan too early.

Marisco

So long as you have proof that you sent it, and can prove they received it, I wouldn't worry about it. Maybe they only pay in cheques once a fortnight or month. You could always check with the PO to see if they have received it, and if they have it's not your problem. But if your really worried, you could phone them to ask for a written receipt, and see what they say.

Pott5y

Thanks for the info. Just never too sure what the sneaky whatsits are up to!!