F&F offer letter - thoughts please?

NotMyName

I have been on a DMP since 2008, now have 3 accounts remaining. Two were defaulted in 2008, 1 is showing in a payment plan / 6 months in arrears. I want to F&F that account and get it closed, so they can't add a default either now or in a few years, so that come 2014 my credit file will be clear.... how to I word that without making them threaten to default me unless I pay it all?

Dear Sir/Madam

Without Prejudice

Account No: XXXXX

I write with reference to the above account, which I am repaying via a DMP with the CCCS at a monthly rate of £38.

I am writing to inform you that I am in the position to offer a sum of £1,200, which represents approximately 75% of the debt, and want to offer this as an ex-gratia payment in full and final settlement of the account. The funds are being provided by a family member, specifically in regard to this account, in order to help me recover and move on from the bad financial situation that I managed to get myself into during my former marriage.

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 I will be released from any liability.

I also require that, if accepted, you will update the associated Callcredit and Equifax credit reference agency files, which currently show the account in 6 months arrears or in a payment arrangement, to be marked as the account having been paid and closed.

Payment can be made within 28 days of receiving your written agreement of this offer and method of payment.

I look forward to receiving your reply.

Yours faithfully

FireWyrm

Sounds good to me. Clear and to the point. I dont see what else you could have included without waffling so it's OK. I might have tidied up this sentence though :

"in order to help me recover and move on from the bad financial situation that I managed to get myself into during my former marriage."

It's a little ugly, but other than that....

NotMyName

Thanks FireWyrm. Wish me luck!

NotMyName

Quick update;


The creditor responded quickly via telephone and we verbally agreed a very slightly higher figure. They have e-mailed the following and will also send a letter through the post, following which I will make payment. :j



Without Prejudice.
We can confirm that we will accept an offer of £XXXX as full and final settlement on your account. If you want to take up this offer, we must receive payment by XXXX.
To make a payment by debit card, please telephone XXXX. Alternatively send payment by first class post.
In the event that payment is not received by the above date, you will remain liable for the full outstanding balance of £XXXX.