Full and Final

farmer76

Hi

I have two debts to clear (both with PRA Group). I have been negotiating full and final settlements with them.
I asked them (by email) to confirm they would not sell/ pass on the remainder of the balance to another company, and that my accounts would be closed. They have replied with the following -

"I can confirm once the settlements have been paid your accounts will be closed, meaning no further monies will be due. We will not pass your accounts onto any other companies"

My questions are -
a) Is this wording ok for me to safely proceed?
b) Do I need to get them to send me a letter, or is the email from them sufficient?

Thank you for all your help!

TripleH

I would always get in writing (by letter) that the accounts have been settled and deemed closed once you have made the payment.

If the above e-mail came from the company, it appears to indicate that they will accept lump sum payments to settle the accounts. Who did the e-mail come from though?

If it was Timmy the Phone Operator then it might not hold weight. If it was Susan, Head of Client Management, then it would probably be sufficient.

I am not an expert though and am sure others will be along shortly to advise better.

sourcrates

I would be happy with that, keep the email safe, just in case.

Willing2Learn

If it were me, I would also want it in writing that "your credit files will be updated to show the account settlement".