Capital One acceptance letter ?

mom23

Hi after sending numerous settlment offers to cap one they have now sent a letter accepting !

On reading it it sounds ok but they do not use the words "full and final"
If anyone could read through the letter for me and give me their opinions as i really don't trust carp one as they have been a pain all the way!!

Dear xxxxx

thank you for contacting us about outstanding debt on your capital one credit card account.
We are writing to confirm the settlement arrangement that has been agreed.

To settle your account,a payment of £xxxx will need to be received by 3rd August 2012.We have listed all payment information on the leaflet enclosed with this letter. Your account will be settled if the payment is received and cleared by this date.

We have provided details below on how this settlement figure will appear at the credit reference agencies once the account has been settled.

If you have paid your full outstanding balance this will
show as satisfied.
If you have paid less than your full outstanding balance
this will show as satisfied with an additional flag "partial
settlement".

This settlement offer is available until 3rd August 2012. if the settlement payment is not received by this date your account will return to it's previous status, however any option to regain use of the card in the future will be removed. Payments should coninue to be made in accordance with any agreed plan.

Then the usual blah blah.

TIA

TakingControl

Personally I would insist on the wording Full & Final and that they won't pursue the debt or sell any outstanding balances to a third party

bargainbetty

mom23 wrote: »

We have provided details below on how this settlement figure will appear at the credit reference agencies once the account has been settled.

If you have paid your full outstanding balance this will show as satisfied.
If you have paid less than your full outstanding balance this will show as satisfied with an additional flag "partial settlement".

TIA

If you are paying less than the full amount, then it will be marked Partial. This means it can be restarted, despite the waffle, and it will show that way for six years or until you pay it off in full.

This is not a full and final.

mom23

Many thanks for your replies.
Have composed a letter in reply do you think it sounds ok ? do i need to add anything I am useless at this english was not my best subject at school

Dear sir/Madam
Account No xxxxxxxxxxxx
I write with reference to your letter dated 4/7/2012 confirming your acceptance of a settlement figure of £xxxx.

Can you please confirm that this is a full and final settlement figure and that it 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 now or in the future and that I will be released from any liability.
Payment can be made within 7 days of receiving your satisfactory reply.

Yours faithfully

TIA