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full and final settlement wording
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dobbollah
Posts: 230 Forumite
I am about to pen an offer to Halifax to make an offer to settle using the national debtline template and was wondering if the following text is ok.....or whether to just make my offer without offering the rest (ive highlighted the in bold the bit I'm not sure is necessary)
"However, my father has offered me £1100 in order to settle this debt and 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 nor 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.
Unfortunately he will only offer the money if the offer is accepted, and if it is the case where you do not find this acceptable I can only continue to pay £40.47 until the balance is paid off in full in 2023.
"However, my father has offered me £1100 in order to settle this debt and 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 nor 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.
Unfortunately he will only offer the money if the offer is accepted, and if it is the case where you do not find this acceptable I can only continue to pay £40.47 until the balance is paid off in full in 2023.
Debt free since Jan 2016
:beer:
:beer:
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Comments
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I am about to pen an offer to Halifax to make an offer to settle using the national debtline template and was wondering if the following text is ok.....or whether to just make my offer without offering the rest (ive highlighted the in bold the bit I'm not sure is necessary)
"However, my father has offered me £1100 in order to settle this debt and 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 nor 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.
Unfortunately he will only offer the money if the offer is accepted, and if it is the case where you do not find this acceptable I can only continue to pay £40.47 until the balance is paid off in full in 2023.
Looks good to me, makes it clear and concise !!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
I agree that it looks good. The bit you’ve added in bold may make your full and final offer look more tempting for the creditor compared to a drawn out instalment plan.
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
thanks for the feedback, its in the post sdo heres hoping its about a 25% offer so we will see !Debt free since Jan 2016
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