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Lowells partially settled debt
vouch0r
Posts: 206 Forumite
Hi all,
Im just reading upon debt collectors as my gf has just accepted over the phone a partial settle for a 320 debt for 120 payment.
Im under the impression this debt can still be chased for the remainder of the debt unless they mark it as fully settled!
Im also worried any verbal discussion they have had over the phone in regards to this payment even being for a partial settle is worthless without it in writing.
Im not too sure what to do or if i should be worrying but she doesnt like me getting involved so any advice will be gratefully passed on if possible.
Im just reading upon debt collectors as my gf has just accepted over the phone a partial settle for a 320 debt for 120 payment.
Im under the impression this debt can still be chased for the remainder of the debt unless they mark it as fully settled!
Im also worried any verbal discussion they have had over the phone in regards to this payment even being for a partial settle is worthless without it in writing.
Im not too sure what to do or if i should be worrying but she doesnt like me getting involved so any advice will be gratefully passed on if possible.
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Comments
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Hi all,
Im just reading upon debt collectors as my gf has just accepted over the phone a partial settle for a 320 debt for 120 payment.
Im under the impression this debt can still be chased for the remainder of the debt unless they mark it as fully settled!
Im also worried any verbal discussion they have had over the phone in regards to this payment even being for a partial settle is worthless without it in writing.
Im not too sure what to do or if i should be worrying but she doesnt like me getting involved so any advice will be gratefully passed on if possible.
Hi,
Anything to do with partially settling debts should ALWAYS be done in writing only, using the National Debtline template letter below:
https://www.nationaldebtline.org/EW/sampleletters/Pages/Full-and-final-settlement-offers-%28sole-name%29.aspx
If you don't, then they can and do, chase you all over again for the remainder of the balance.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 -
What type of debt ?I do Contracts, all day every day.0
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relates to a littlewoods/very type account 3 years ago0
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Hi,
Just to add to sourcrates' post, use the sample letter on the factsheet he linked to but also make sure the creditor accepts the offer in writing before any lump sum payment is made.
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
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