What should I do?

ab1975

I asked a creditor for full and final settlement via email and they came back with

"Thank you for your email, your outstanding balance is £xxx.xx, we will accept £xx.xx in full and final settlement of your liability. Please be aware that your credit file will be marked as 'partially settled' as you are not paying the balance in full."

Am I correct to assume that since they've accepted my offer expressly as F&F settlement (albeit with partially settled on credit file) it means they can't sell on the remainder to another debt company?? or can they?

Also i don't want to phone them up and give them my debit card details where they may attempt to take the full whack. What other ways can I pay them? (I dont have a cheque book).

BlushingRose

I *think* if it's only partially settled then you can be chased for the remainder in the future, but I'm sure someone else will be along soon

McKneff

ab1975 wrote: »

I asked a creditor for full and final settlement via email and they came back with

"Thank you for your email, your outstanding balance is £xxx.xx, we will accept £xx.xx in full and final settlement of your liability. Please be aware that your credit file will be marked as 'partially settled' as you are not paying the balance in full."

Am I correct to assume that since they've accepted my offer expressly as F&F settlement (albeit with partially settled on credit file) it means they can't sell on the remainder to another debt company?? or can they?

Also i don't want to phone them up and give them my debit card details where they may attempt to take the full whack. What other ways can I pay them? (I dont have a cheque book).

I dont see how they can say on one line 'we will accept in Full and Final then say your file will be marked 'partially settled'
It's a contradiction of terms

poppasmurf_bewdley

I think they're having you on. They can't say 'full and final' and then say 'partial'.

As for paying them. Tell them you have neither a cheque book or debit card. Tell them you need their bank sort code, account number and a reference number and you will pay by balance transfer.

rising_from_the_ashes

The defaults I settled on F&F's were marked as "part settled" - I'd paid what was agreed but not the total amount that was owed, therefore they couldn't be marked as "settled in full"

ab1975

thanks folks.

That's exactly what i thought. They are contradicting themselves. Either they are confused or trying to pull a fast one, by seeming to offer me a full final whilst leaving it muddy enough for them to sell on.
But possibly with their statement ' we will accept £xx.xx in full and final settlement of your liability' re email I can defend any future claims/ccj applications.

ab1975

rising_from_the_ashes wrote: »

The defaults I settled on F&F's were marked as "part settled" - I'd paid what was agreed but not the total amount that was owed, therefore they couldn't be marked as "settled in full"

But can they/another debt company claim the remainder at a later date?

rising_from_the_ashes

ab1975 wrote: »

But can they/another debt company claim the remainder at a later date?

Not that I'm aware of .... you've come to an agreement to pay a reduced amount & the lender has either offered or accepted this lower amount as settlement of the amount owed.

I certainly never had any problems with any of mine (there were quite a few:o)

rising_from_the_ashes

ab1975 wrote: »

That's exactly what i thought. They are contradicting themselves. Either they are confused or trying to pull a fast one, by seeming to offer me a full final whilst leaving it muddy enough for them to sell on.

Actually they're not and it is factually correct to say "partially settled" as per my post above - you've not paid the full amount owed so it wouldn't be correct to say "settled in full".

Loubylou2

I have also settled for 'partially settled'. I researched and as long as they state that you won't be chased for the remainder and/or the account is closed then that's acceptable. I think its quite rare for a creditor to amend your account as 'fully settled' when you haven't fully settled it.

Good Luck:)

fatbelly

'Partially settled' is the correct mark on your credit file for a full & final settlement, according to the Information Commissioner Guidance

OP - well done on getting them to say ' full & final settlement' but an e-mail isn't enough. You want the confirmation sent by post on company headed paper.