Offers to clear a debt letter advice. (Yay! they Accepted!)

blownalot

sgx.saint wrote:

Here is a cut & paste of a letter that I recently sent. What you are doing is requesting a Full & Final Settlement for a reduced amount.

You will ofc need to alter the letter that I paste to suit your own circumstances.

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(Reference: XXXXXXXX – XXXXXXXXX)

WITHOUT PREJUDICE

We write with reference to the money which you are claiming on the above account. We can confirm that we are unable to offer to pay the money which we owe in full. However, I can raise £XX and I want to offer this an ex−gratia payment in full and final settlement of the account.

I fully believe that it is in your best interest to accept this offer as my current financial situation is unlikely to change for at least the next XX years, due to me being in full-time education and not having a sustainable income. I have attached to this letter a copy of my current income and expenditure with details of my current pro-rata repayments to my other creditors. As you will be aware in my previous letter to you, I can only afford to offer you £XX per month repayment in respect of this debt for the foreseeable future. I therefore reiterate the above genuine offer and hope that you will accept this as full and final settlement.

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 we will be released for any liability. We 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.

Payment can be made within two weeks of receiving your written agreement of this offer and will be made by a third party into the relevant account.

This offer is a limited offer and if I do not hear from you within the next two weeks, I will withdraw the offer and use these funds towards my other debts.

I look forward to your considered reply.

Yours Faithfully

XXXXXX XXXXXX

Do you mind if I ask how you got on with thi soffer please?

artic_fox_2

sgx.saint wrote:

When you offer an amount, make sure you offer a little less than your actually prepared to repay. That way you can always increase your offer slightly so it looks like you are playing ball with the creditor/DCA.

i agree with this im curently saving up to offer a F&F amount and when i have £4000 i will at first offer £3500 and then increase to £3750 and then if ness to £4000

hope it all works out for you

Semi_2

Woohoo!

Barclaycard Balance = £3280

Offer Accepted = £1505

2 letters saved me just under £1800

You have nothing to lose!

the only downside is = "Partially Settled" on Credit report, but i will persue the removal of this in a few months. :j

lotte123

That's great news! You must be over the moon!:j

medman

Nice one semi!! well done

MM

Spendaholic_Chick

Wow - that's fantastic! I never knew you could do that! Well done you! :-)

Semi_2

So Happy! After the first letter was rejected, i sent the letter again, but reworded a little and added £10 to the original offer.

And to my suprise, i received a "Personal" responce letter, (even signed in Biro) accepting my Offer.

However, Plan A is now complete, Comensing Plan B = Getting my Charges Refunded! lol

Best of Luck to whom wants to Try this tactic.

I'll be happy to answer any Questions about this if need be.

Regards

Semi

Semi_2

Enormous Credit to sgx.saint Thanks!

I used your letter above as my template, and edited to my circumstances.

Quincifer

Congratulations, thats great news and a big boost! Hopefully more people will be able to sort things out this way, its a great idea! xxx