Full and Final offer letter received

fedupwithbanks_2

Following on from a previous thread I have now received the letter from RMA resolve for the Amex account.

RE: xxxxxxxxx

In reference to our recent conversation, we can advise you that American Express have agreed to accept the sum of £xxxx as settlement of your current outstanding debt of £xxxx.

This means that £xxx must be received in this office as agreed on the following dates:

£xxx on 31st May 2007
£xxx on 29th June 2007

Failure to pay the agreed amount within the agreed time frame will render this agreement null and void and the outstanding balance stated above will be due again.

please contact this office upon receipt of this letter to arrange payment of your account.

Should it not state somewhere that it is a full and final settlement and they will mark the files as satisfied, on the phone they did say yes to all this and that the letter would state all of this, is this correct or should I call them and ask them to put it all in again?

Any help would be great

Thank you

immoral_angeluk

call them again and ask them to write to you confirming it's full and final settlement.

Penny-Pincher!!

I would call to ask them to put it clearly in the letter that all remaining balances will be written off.

PP
xx

Crown

Hi FUWB,

Yes you are correct that it should state Full and Final Settlement. Otherwise you could be still held accountable. Make sure you do not pay anything until you have it in writing.

Someone else was having this very discussion, I posted a copy of a ltter to send to them with regards to The !!!!!! part of the payment. I will do a seach and see if I can find it.

Crown

Hi again, this is the letter I posted up the other day. Obviously you need to edit it for your own use if you feel it is correct for your circumstances.

Dear Sir/Madam

Re: Account No/Reference No:

I write with reference to a our recent correspondence regarding Full and Final Settlement of my account. Your previous letter has still not clarified that you accept this as Full and Final Settlement on this account so please can you sign and send a copy of to this letter to confirm.

I confirm that I am/that I will be willing to accept your offer to pay £142.50. I want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you or any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.

I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied" in full.

Payment can be made within (put the number of days or weeks within which you will pay) of receiving your written agreement of this offer and method of payment.

I look forward to receiving your reply.

Yours faithfully

(Your signature)

---

We Agree the above Terms and Conditions and confirm that no further action will be taken on receipt of payment of £142.50.

Signed:
Print Name:
Position:

Wescot Credit Services LTD

fedupwithbanks_2

wow they were very quick replies.

Thank you everyone, I wasn't sure how far I could push them but I will now go back to them to make sure it is all written down. Thank you to Crown as well for the letter template I will use this if you don't mind xxx :beer:

Crown

No problem, let us know how you get on with it!