Full & Final Settlement Accepted??

wideboy144

Hi I am a long time reader first time poster here and I was wondering if you could help me with a full and final acceptance letter I have received and if this is truly full and final.

The contents of the letter is as below:

In reference to your letter received in regards to settlement on the account, I can confirm that American Express have accepted your offer of settlement of xxx on your current outstanding debt of yyyy, this works out to be xx% off the balance and yy% of the value of the balance as per offered from yourself as a full and final settlement. This means once the above settlement figure has been paid, no further money will be owed on the account.
The account will be closed off as settled on your credit file 6-8 weeks later.

Any advice would be welcome.

cottage_retreatist

Hi wideboy144!

that sounds good to me but I'm sure someone more qualified will be responding shortly. They confirm it will be settled and there will be no money outstanding on the account so sounds ok. And you get settled rather than partially settled on the credit file . . . .

hopefully someone else can confirm for sure!

happy_bunny_2

Sounds ok to me. Settled and nothing owing on the account.

wideboy144

Thanks for the responses - it sounds like the advice I read on the site before negotiating the F&F has paid off and I have the right response!