Need help to become debt free

Emms_Johnson

I am trying to help my father become debt free. My father was in debt to the tune of £9,600, but with my help the debt has come down to around £6,600. This morning he recieved a letter from the debt collection agency (which took on the debt years ago) saying if he pays them £1800 in the next 14 days the rest of the debt will be written off.

Has anyone heard of this practice or is it too good to be true?

Emma

immoral_angeluk

Does the letter say in full and final settlement? If not it will only be a partial settlement and they/another debt collection agency could continue to pursue him for the remainder.

The most important question is, can he actually afford to pay all that money in one go?

Loubylou2

Hi
You do have to be careful that the wording of the letter is correct. However from personal experience you won't always get a creditor to mark your file as fully settled. One of ours did and the other will show 'partially settled' I researched a lot and this is just the way it is. However make sure they say in writing that the account will be closed and that you won't be liable for the remaining balance from them or any associated company.
Our creditors have been ok and we have had letters from both acknowledging our payment and telling us that the account is closed etc

Good Luck:)