Full and final offer opinion?

Willing2Learn

Your relative should pay it regardless, as that will ensure the debt collection agency will have no need to take any enforcement measures.

[Deleted User]

Great, thanks for the help, she's just paid and apparently it will be updated straight away, so I'll get her checking her credit file in a week or two.

fatbelly

[Deleted User] wrote:

Hey guys, this is purely educational purpose for my self and partner to pass on to our relative.

As title says, opinions on full and final offers?

She's had a full and final offer which is over half off the full amount, it's a defaulted pay day loan.

Is it a good idea for her to take up this offer?

Thanks

Your later posts say that the date of default was 07/01/2013.

That infers the last payment was somewhere between 7/7/12 and 7/10/12.

Probably the reason why they are offering a settlement is that it is (or is about to become) statute barred.

I realise this is academic now because your later post says she has already paid it.

Someone who has a payday loan often has multiple non-priority debts and if that is the case she should take advice on the situation as a whole and not make random payments to individual creditors.

[Deleted User]

It's actually her only debt, and is now repaid, showing satisfied, thank the stars