F & F Letter Templates

ceecee31

Hello everyone. Can anyone tell me if there are any templates of letters available to send offering a full and final settlements. Or if not, the best way to word a letter, starting off at the lowest %.

Thanks a lot

FireWyrm

I dont know about templates, because every F&F is different. Different circumstances, different requests etc.

As for wording, just plain common sense really. You will need to add the words Full and Final Settlement to the 'Re' line and it always makes sense to include the outstanding amount, the account number or reference number and a date from in there too. I've written a few letters on the forum here and there, so you could take and re-word one of those or draft your own. The trick is to be business like, dont waffle, make you point and ask for what you want clearly.

With regard to the offer, it's what you think you can sensibly get away with and what you think they might accept. Some creditors wont budge at all and will demand 100%, some settle for as little as 30% and some, like HMRC could write the whole lot off if they were minded to. I'd start somewhere around the 30% mark and work up from there. It's a negotiation, there are no hard and fast rules.

Tixy

There is a factsheet and basic template on the national debtline website, which you can use as a starting point but may well need tailoring, but it does include the important things to ask for from your creditor before you make payment regarding the credit file etc.
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

ceecee31

thank you both for the information. Most informative and helpful.