Full and Final settlement!!

21yrold · 16 December 2010 at 9:01AM

Hiya guys,

I am about to ring up and ask about my full and final settlement quote.

Should i ring up or should i send a letter?? Is there any difference between the two options etc?

Thank you :-)

Neil

GeorgeUK · 16 December 2010 at 9:13AM

Do you mean you are making a full and final settlement on a defaulted account or are you looking for an early settlement figure for the loan.

If it's a F&F, only do this in writing. If it's an early settlement, i would phone them and request the quote in writing for confirmation.

ILW · 16 December 2010 at 9:13AM

On what basis are you trying to negotiate a full and final settlement?

21yrold · 16 December 2010 at 9:15AM

Oh sorry, i want to make a early settlement figure.

I just was not sure if you get a better quote if you write in etc? is it the same either way??

Sorry for the questions just want to make sure i know what im saying when i ring up

never done it before so its exciting haha!

21yrold · 16 December 2010 at 9:37AM

My early settlement figure was £2951.69

The loan was at 18.6% and the total left on the loan was £3186.80

So i think that's a good deal! she said there was no charge for repaying early

GeorgeUK · 16 December 2010 at 11:28AM

I thought that's what you meant - they have a specific formula for working it out but i would request written confirmation just to protect yourself. There would be no difference between the quote if you phoned or wrote.