Full and Final Offer- Cap Quest

TJ_Hooker

Hello,

I made a partial offer for settlement that was accepted by Cap Quest. They sent me an email with the following paragraph:

The outstanding balance will show as zero on your credit file and you will not be pursued for any remainder of the balance by Capquest or any other third party. 

Can I be confident in making this payment without being chased again for the remainder? 

Will this partial settlement fall off at the same time as my default (Feb 2027)?

For info- the settlement amount was 35% of the amount still owed. 

Thanks,

TJ

DE_612183

Well thats what they are saying - what more can they do than give you a guarantee in writing?

fatbelly

It seems ok to me.

The whole entry drops off 6 years after the default, regardless of what it says

RAS

Just make sure you print and file a copy, scan and save in several places etc. 

Creditors don't always mean to renege but sometimes they screw up an old debt gets batched up with other stuff and it rears it ugly head. OK it may be statute barred, but rather than stressing, being able to send a copy of the settlement agreement makes life easier for you.