full and final settlement offer

tigzem

Hi fellow DFW's...

I want to send a letter to the DCA dealing with my HSBC cc and offer them a sum as a full and final settlement.... I'm sure there is a template letter around here somewhere but I can't find it!

Anyone know where I should be looking??

stapeley

hi , If you are in a position to make a lump sum payment ,theres another thing I advise first . Lots of people are finding that the DCA can not provide a notice of Assignment or a true sign copy of an AGREEMENT . In these cases a debt is unenforceable . There are POSTS covering this subject. You have to make sure you are paying the owner of the debt . There are cases where people have paid settlements only for the debt to resurface later . GOOD LUCK

deary65

Name of Creditor
Address of Creditor

WITHOUT PREJUDICE

Dear Sir/Madam
Re: Account No/Reference No:
I write with reference to the money which you are claiming on the above account.
I can confirm that I am unable to offer to pay the money which I owe in full (Add details of your circumstances and financial situation). However, I can raise £ (put the amount which you can afford to pay) and I want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you or any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.
I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied" in full.
Payment can be made within (put the number of days or weeks within which you will pay) of receiving your written agreement of this offer and method of payment.
I look forward to receiving your reply.
Yours faithfully
(Your signature)

REMEMBER
KEEP A COPY OF ALL LETTERS YOU SEND TO YOUR CREDITORS

tigzem

stapeley wrote: »

hi , If you are in a position to make a lump sum payment ,theres another thing I advise first . Lots of people are finding that the DCA can not provide a notice of Assignment or a true sign copy of an AGREEMENT . In these cases a debt is unenforceable . There are POSTS covering this subject. You have to make sure you are paying the owner of the debt . There are cases where people have paid settlements only for the debt to resurface later . GOOD LUCK

Sadly I know the debt is mine as I have a CCJ against me for it :rolleyes:

THE_LONE_RANGER_4

when i did this i ensured the debt was being paid to the owner i got the full and final settlement figure in writing , i then got a friend to write a cheque for me to pay it i recieved a reciept in prepaid envelpoe , i remember a solictor telling me to get a third party to pay the debt for you i cant remember why but i did it any way .

Broken_hearted

I alter the letter to be a third party offer.

Voyager2002

When I did this (eight years ago) I did all the negotiation by telephone. However, I ensured that I had a letter from the DCA, who by then owned the debt, agreeing that the figure would be accepted in full and final settlement.