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Full and final settlement?
clean_sweep
Posts: 1 Newbie
in Credit cards
I recently sent a full and final settlement offer to Opus offering a payment of £1100.00 on a £3100.00 balance.
This is the wording from their response.
Having carefully considered the information you have provided we are prepared to accept your offer of a partial settlement of £1100.00 as long as the payment has been received and cleared into your account by 30th August 2013.
This agreement will result in the remainder of your balance being registered with the credit reference agencies as a default; we are agreeing not to collect on the remaining amount. This may affect your ability to gain credit in the future.
Your credit agreement with Opus will be terminated.
Can somebody please tell me if they are accepting my offer in full and final settlement or not? Whilst Opus say they will not collect on the remaining amount could another third party collection agency make a future claim?
Many thanks
This is the wording from their response.
Having carefully considered the information you have provided we are prepared to accept your offer of a partial settlement of £1100.00 as long as the payment has been received and cleared into your account by 30th August 2013.
This agreement will result in the remainder of your balance being registered with the credit reference agencies as a default; we are agreeing not to collect on the remaining amount. This may affect your ability to gain credit in the future.
Your credit agreement with Opus will be terminated.
Can somebody please tell me if they are accepting my offer in full and final settlement or not? Whilst Opus say they will not collect on the remaining amount could another third party collection agency make a future claim?
Many thanks
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Comments
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They are accepting the offer, but you will have the associated impact on your credit file.0
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Make sure you keep that document in a very safe place.0
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It indeed does sound like an acceptance although I'd be a little skeptical given the lack of confirmation that they'd either a) write off the remaining or b) mark the default as "Partially Satisfied".
They simply said they wouldn't pursue you for the rest, not that they'd write it off.Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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How did this come about?
Were you behind and struggling and in long contact - or did you just write with the offer to see what they had to say?0 -
clean_sweep wrote: »Can somebody please tell me if they are accepting my offer in full and final settlement or not?
They are not accepting it as a full and final offer. They are accepting it as a partial and final offer which is almost the same other than your credit record will show the debt was only ever partially satisfied but that it is final.
The term full and final is thrown around too much on this site0 -
II, this is from 3 months ago, given that the OP has never posted again I suspect it's either resolved or abandoned. Not sure why Midlander dragged it up again.0
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