Quick Q: Confirmation of F&F?

[Deleted User]

Hi

Well known forumite posting under an alias.

I've managed to help my cousin negotiate a full and final settlement with Cheque Centre (pay day loan company) and he's arranged to go into their store tomorrow and settle up what they have agreed.

He has an Email from their recovery team confirming that, upon receipt of this payment they will consider the debt paid and the matter closed.

My question is, other than getting a receipt for the payment as it is in cash, is this good enough or should he get something further whilst in the shop? Something such as written confirmation on letter head, or get them to sign a piece of paper confirming this? Or is the email good enough?

Thank you in advance for your help.

[Deleted User]

*bump* thanks

SusieT

I would want something to the effect that the balance will be written off and not sold on or persued by them or anyone else at a later date.
Could they type up something that looks simple along the lines of Received the sum of £xx.xx
As agreed by email this is full and final settlement of account xxxxx the balance of which will be written off and not persued by payday loan company or anyone else in the fuure.

[Deleted User]

Thanks very much!

sickasachip13

You need written down a certain set of statements. Have a look at the National Debtline template letters that debtors need to use when negotiating F&Fs and this will tell you what you need to see them agree to.

Also, when I got two F&Fs accepted I actually rang the National Debtline and read the letters out to them to ok before going ahead.

He does need to be really careful as if it's not stitched up and watertight, they will return for the rest of the money. Don't let him be hurried into it.

best of luck

SAAC