acccepted lower settlement figure

sporty1

Hi i have recieved a letter from cap 1 saying they will accept and have agreed to £100 payment as settlement for my account (balance owing £179.
now if i send this £100 of do i need to send a letter with it asking for proof in writing that it has now been paid ? or do i just send the cheque offto them (if i need to send a letter have you any idea how i word it please
thanks

nottoolate

have they said in the letter what is going to be put on your credit files?

and that thye remainder won't be sold chased or sold on?

if not, then you need to get that in writing as well

bottleofred

Before sending any money I'd get written confirmation that the £100 is as a full and final settlement figure of the debt. Normally partially settled debts will be marked as partially settled on your credit file, but this is fairly normal. The important part is the as full and final settlement of the debt.

sporty1

hi it says on the letter
we write to confirm the settlement agreement that has been agreed.
To settle your account a payment of £100 will need to be paid by ...23.... april.
This settlement offer is available until 23rd April if settlement is not recieved by then your account will return to its previous status
(it also says if you have paid less than your full outstanding balance this will show as satisfied with a additional flag of "partial settlement"