Full and Final Offer

Sou18558

Hi everyone,

Just looking for some advise please. I am in the process of looking at setting up a Full & Final offer.

My Debt Management Company have advised that they can arrange this with my creditors by phone, they say that they call and make the offer, record the call and take the name of the person. Likewise once paid they do the same.

They advise that recording the call is sufficient, does anybody have any views on this?

Many thanks in advance..

VitaK

It is important that the creditor accpets the full and finale settlement offer in writting. This is important in case there is a dispute.

Make sure the offer is made on the understanding that, if accepted, neither them or any associate company will take any action to enforce or persure the debt in any way whatsoever and that you are released from any liability.

Also request that your credit file is updated to reflect the account have been settled and is closed.

Moneyproblems111

Have to agree with the above, make sure its done in writing and update your credit file

fatbelly

Sou18558 wrote: »

Hi everyone,

Just looking for some advise please. I am in the process of looking at setting up a Full & Final offer.

My Debt Management Company have advised that they can arrange this with my creditors by phone, they say that they call and make the offer, record the call and take the name of the person. Likewise once paid they do the same.

They advise that recording the call is sufficient, does anybody have any views on this?

It's nonsense. Who are they?

Depth_Charge

Hi

I agree with the above posters

Decent National Debtline fact sheet on Full & Final Settlements below that might help -

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

Sou18558

Thanks for the replies everyone, the company is a major Uk debt management company, won't name them but they are highly reputable. They seemed very clear that this is a normal way they approach a Full and Final offer and that the recorded calls are enough to back up in the case of a later dispute, but it just didn't match up with advise online, as you guys have backed up..I have this information in an email from them, but would you still advise to tread carefully? thanks again

Heffi1

Does this debt management company charge you a fee to manage your account?

dfw1980

Ive settled a few of my DCA accounts with a F&F after arrangements made over the phone.
After reading posts on this forum i got back in touch with them and asked they write to cconfirm the account has been paid and confirmation of no further contact.
To be fair all the recent contact ive had with them have been fair.. Pushy yea.. But fair. Im sure i wont get any hassel in the future from them claiming that there is still a balance outstanding but it doesnt hurt to get it in writing... Just in case :-)

Sou18558

Thanks again for the replies, the company doesn't charge a fee to manage the account..thanks dfw, but does seem to go against the flow to offer by phone, have you checked your credit file to see if they have been maked as zero owing? thanks again