The best way to settle debt in full

Hi,

My partner has an outstanding debt with a debt collection agency being enforced by a CCJ.

We now have the money to pay this off. What's the best way to engage them?

I suspect its not going to be ring them up and pay over the phone with my card.

Do people advise doing a Full & Final Settlement letter for the full amount? I want to make sure they are gone for good!

Thanks

Craig

Replies

  • sourcratessourcrates Forumite
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    If the debt is subject to a CCJ i`m unsure of the legal position regarding full and final offers.
    However, you could write and make them an offer to settle, template letters are widely available.

    I would start at say 60% and see what they come back to you with.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay a fee for a Debt Management Plan.
    For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
  • Sorry i think you may of misunderstood my question probably because i have incorrectly referred to Full and Final settlement.

    I don't wish to try and reduce the debt, just pay it off in the best way to protect my partner.

    I was thinking of asking them for a statement of account in the first instance as my partner has not had one of these in over 5 years of making instalments. Then writing to them to settle the amount in full.

    Is this the best way to do it? Presumably paying by cheque is the best way

    Craig
  • sourcratessourcrates Forumite
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    Ok, well yes, in that case, do everything in writing, good luck with it.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay a fee for a Debt Management Plan.
    For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
  • Sazzie23Sazzie23 Forumite
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    Kind of you to help out, I'd defo want to see a statement before I offered them anything. I know you're not looking to cut the debt but don't let them rip you off either.

    I find banks transfer the most convenient method of payment but I can see the benefits of cheque payments.
    Debt -it's a fight that I'm winning, dealing with debt one day at a time.
    Estimated DFD August 2018 - 2031 - now 2027 :T
    Guide dog Tess, missing Scotland 2 years
    DMP support no438.
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