F&f settlement offer, please help

[Deleted User]

Hi everyone, i just received a full and final settlement offer for a payday loan i took out last July . it was Lending stream but they sold the debt to CRS.

I owe £502.17 and the offer they made is £351.52.
I think what they wrote in the email is sufficient in that any debt recovery will stop and it will be marked on my credit file that a settlement has been made. I know it is very important for creditors to mention this before accepting an offer so could anyone kindly advise if the below email is ok and if anything else needs to be included before i pay this settlement.

Sorry to be a pain and many thanks for anyone who replies



DISCOUNT OFFER CONFIRMATION

WITHOUT PREJUDICE

We recently wrote to you to confirm that Lending Stream have authorised us to offer you a substantial reduction in your balance which currently stands at £502.17.

Visit our website today by clicking the link mycrs.co.uk to make the payment or view the discount if your letter has not yet arrived.

Once the payment has been made your credit file will be updated to reflect the fact that a full and final settlement has been paid against the balance due. You will not be approached for any further payment and all debt recovery action will cease.

Please note that this offer is only available for a limited period so immediate action is required.

Willing2Learn

That letter looks to have everything covered. Have you made a counter-offer to check if they will accept less?

[Deleted User]

Willing2Learn wrote: »

That letter looks to have everything covered. Have you made a counter-offer to check if they will accept less?

Hi thanks for responding. No i haven't. i was just thinking of that actually. As they offered 70% settlement, i am thinking of a counter offer of 50%. If they happen to reject my offer, would their original offer would still be valid ?

Willing2Learn

50% is a very sensible counter-offer. If it were rejected, then I believe the original offer should still be valid. If it were me, I would contact them on the phone with your counter-offer. If they accept your offer, ask them to send you a new confirmation letter, before you make the payment.

[Deleted User]

Willing2Learn wrote: »

50% is a very sensible counter-offer. If it were rejected, then I believe the original offer should still be valid. If it were me, I would contact them on the phone with your counter-offer. If they accept your offer, ask them to send you a new confirmation letter, before you make the payment.

will do ,thanks very much for your help