Full and Final - fully satisfied?

Fridge03

Hi everyone,

So in my quest to be debt free I have sent out F&F letters to my creditors.
In the letter I stated that the debt must be marked as satisfied in full with zero balance remaining rather than partially satisfied.

I received the first letter back today and just wanted to check with those in the know. I need it marked as satisfied to start fixing my credit file! The original debt was for £497 to Safe Loans.

Dear XXXX

Thank you for your letter dated 25.7.14

We will agree to accept in good faith and as a concessional offer a one off payment of £190.00 in full and final settlement of your account. Your liability within the terms and conditions of the loan agreement will cease.

Upon receiving cleared funds and within 14 days we will update your credit reference file to reflect the account paid in full and marked satisfied with a zero balance.

Payment can be made by xxxxxxxxx

Upon receipt of cleared funds we will post you a settled receipt.

Yours faithfully.
Safeloans Limited.

Another question I have is, they issued a CCJ for this amount but have not mentioned this in the letter. Will paying this mean the CCJ will be satisfied as well?

Thanks all

double_mummy

not good enough if it is a CCJ you need specific mention of that in there

Thrugelmir

The CCJ will remain visible on your file. So pretty damaging until such time as it disappears.

Fridge03

Thrugelmir wrote: »

The CCJ will remain visible on your file. So pretty damaging until such time as it disappears.

Oh I know that. It'll remain on for 6 years but I want that marked at satisfied as well.

On my credit file is the debt to Safeloans for £479 under credit agreements, which the letter states they will mark as satisfied.

However, they haven't mentioned the CCJ which obviously I want marked as satisfied also.

going_nowhere_fast

If you are not paying the full sum outstanding then the company will mark your credit file as partially satisfied. They are not going to lie for you and say it is satisfied in full when it is not.

Your credit file should be factually correct.

Fridge03

going_nowhere_fast wrote: »

If you are not paying the full sum outstanding then the company will mark your credit file as partially satisfied. They are not going to lie for you and say it is satisfied in full when it is not.

Your credit file should be factually correct.

See the letter. They have said account will be marked as paid in full and satisfied.

Thrugelmir

Fridge03 wrote: »

See the letter. They have said account will be marked as paid in full and satisfied.

And if they don't?

Fridge03

Thrugelmir wrote: »

And if they don't?

Then surely I can complain as I have in if writing from them.....?

going_nowhere_fast

Their letter means nothing. They are not going to lie for you.

going_nowhere_fast

Besides their letter is written in a way that could be interpreted in more than one way. There is no sentence saying we will mark on your credit file as the account was satisfied in full, its written in a differeng way on purpose.

Fridge03

going_nowhere_fast wrote: »

Besides their letter is written in a way that could be interpreted in more than one way. There is no sentence saying we will mark on your credit file as the account was satisfied in full, its written in a differeng way on purpose.

"Upon receiving cleared funds and within 14 days we will update your credit reference file to reflect the account paid in full and marked satisfied"