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"Full" or Short" settlement of Debt via Payplan
Comments
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In reply to your questions above :
I would advise you to stop paying the creditors,
(they tend not to respond to quickly, if they are still been paid)
send the CCA requests,
see what they send back to you, your response will be dependent on the age of the debt, and what they send back to you.
Some may not have paperwork at all, in which case you could decide not to pay, or, to offer a small F & F to them.
Some may have paperwork, but it could have issues,
(in which case you would need to re-post for further advice).
Others may have correct paperwork.
In all cases its worth making offers, they can only say no.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Hello,
Thanks again for all your helpful replies
Last question, from the research I have conducted is that, if I settle a debt "partially", and if the creditor accepts this as "full and final" settlement, with no further liability attaching to me for the debt, the debt will show as settled albeit for a lower amount.
So....whilst the settlement is "full and final", it will still show that it was settled for a lower figure. Therefore, how long does the partial settlement "flag" stay on your credit file.
Sorry lovely people, I'm nearly there!
Many thanks,
AB
xDebt £22k (ish):eek::eek:LBM April 2010DFD - work in progress
Paddle no. 26"whether you think you can or you can't, your probably right"
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It should show as partially settled with zero balance. Entries stay on file for six years from defaulted or settled, whichever is sooner.0
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