F & F settlements acceptance letter help please

scout13

I made an offer to all the companies that bought my debts, Capquest being the biggest debt by far. Today I've had an email from them to say they will accept my offer for a Full & Final settlement of £1250, which I didn't expect as all the other companies have rejected my offers and stuck by the offers they have previously made to me. 

I am also going to pay the other companies at the percentages they have offered.

Before I arrange for any payments to be made, I wanted to check what I need their letters to say. I know they need to include that they will not pass the percentage that I am not paying onto another company. Capquest have said that I will receive a letter to say my account will be closed once they receive the payment (a friend is paying these debts off for me as they are causing me massive anxiety and I have numerous health issues).

I'd really like to get these paid and out of my life once and for all so any advice would be appreciated.

- DFW 

sourcrates

Advise them that you require written conformation confirming that -

"I am making this offer on the clear understanding that, if you accept it, neither you nor any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.

If you accept this offer, please confirm that you will mark my credit reference agency file to show that the above account has been paid and closed".

I cannot stress how important this is, some, not all, but some companies will sell on the remaining debt balance if you do not get this confirmed in writing, so its for your own protection.

scout13

Thank you this is exactly what I was looking for and incredibly helpful.

My online Capquest account now shows the settlement offer and says I have one payment left (the offer amount), the email says my "credit file will show the balance as satisfied with a special flag of partial settlement" and once the payment is paid they will send a letter to say my account has been closed. 

I did say in my letter "as a full and final settlement to clear my outstanding debt with you", which they've accepted. But I gather I need to now get them to confirm they wont sell it on to a third party?

Intrum's letter says "you will not be pursued for any remainder of the balance by Intrum or any other third party" so I'll get this paid off straight away.