URGENT please help: 1st credit 80% off full finl settlement tonight by 8.30pm

in Debt-Free Wannabe
20 replies 4.8K views
Hi all

Can you please advise as urgently as possible

I have had a call from first credit after various letter of full and finals to them

they have advised that they will settle the amount i owe them at a full and final settlement of 20% ie (80%off), however it needs to be done today by 8.30pm

they have also advised that they will email me the fact that it is in full and final settlement and that they will not chase for the remainder or sell on to a third party

will email be ok for covering my back or not

please help, also how should i pay....he wants it paid right now...not sure what to do
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Replies

  • edited 31 January 2011 at 8:09PM
    laguna_1laguna_1 Forumite
    105 Posts
    edited 31 January 2011 at 8:09PM
    The letter has come in as an attachment on the email. It says the below:-

    My name and Address


    Dear Mr NAME

    Account Number: Account Number
    Balance: £5063.44
    Client: MBNA Cards

    Further to your earlier telephone conversation with this office, I write to confirm that the amount of £1012.69 will be acceptable as Full and Final Settlement on your account, provided that payment is received by 31st Jan 2011.

    I can confirm that once paid we will update your credit file as satisfied and you will not be pursued for the balance or contacted by any other agency in relation to this Account

    Please make payments payable to 1st Credit Limited quoting the 1st Credit reference number on all payments.
  • for such a generous discount is the debt enforceable?
  • laguna_1laguna_1 Forumite
    105 Posts
    1st Credit Ref No:


    Address




    Dear Mr My Name

    Account Number: Credit Card Number
    Balance: £5063.44
    Client: MBNA Cards

    Further to your earlier telephone conversation with this office, I write to confirm that the amount of £1012.69 will be acceptable as Full and Final Settlement on your account, provided that payment is received by 31st Jan 2011.

    I can confirm that once paid we will update your credit file as satisfied and you will not be pursued for the balance or contacted by any other agency in relation to this Account

    Please make payments payable to 1st Credit Limited quoting the 1st Credit reference number on all payments.
  • laguna_1laguna_1 Forumite
    105 Posts
    hi its not enforeceable but i need it cleared as i work i finance so trying to get these debts off my record by low full and finals

    the letter i pasted above came attached from an email from the collections team leader

    if my mother pays this via debit card, are we safe as per the extract above or best to wait

    please help
  • yes should be fine, does the sender say first credit and have no disclaimer on it about biding contracts. If you need it for work, do the honest thing so yes
  • RASRAS Forumite
    29.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    ✭✭✭✭✭
    Hi

    What worries me is that this would have to be a debit or credit card transaction, so they could take more.
    The person who has not made a mistake, has made nothing
  • It sounds like a clever a desperate decoy. I would not do anything with a verbal or email statement saying anything like that. Say you would be happy to consider it but they must send it in the post. Then at least you have proof. A email is not a provable item imo.
  • laguna_1laguna_1 Forumite
    105 Posts
    hi all,

    i have paid this through a third party via debit card, also confirmed what the value of the payment was, surely they cant take more from a third party

    They have said that they will now let the 3 reference agencies know that the debt has been satisfied and they will also send me a full and final receipt and close the account down.

    Fingers crossed all :)

    The letter has come from a first credit email addresss,

    Further the attachement is an actual letter that would be sent out, like the normal ones they send out, with their registered office at the bottom.

    i will let you know how i get on..my first real dent into the debt front guys for a long time :)
  • curlytop12curlytop12 Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ✭✭✭
    just wanted to say good luck,fingers crossed for you.
    G
  • edited 1 February 2011 at 10:09AM
    Pott5yPott5y Forumite
    504 Posts
    edited 1 February 2011 at 10:09AM
    Laguna1,

    Just to put your mind at rest. I recently did a Full and Final with 1st Credit and they were true to their word in every sense.

    Mine was a little more complicated as a third party was invovled but they have done everything they said they would and very efficiently too.

    Well done. One down and all that :T:T:T

    PS. Don't worry about the debit card. They cannot take additional payments from a third party... and you have a witness to prove payment was made. You did the right thing.
    adde parvum parvo magnus acervus erit
    Add a little to a little and there will be a great heap ;)
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