Can someone look over my F&F settlement offer

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bradqwer
bradqwer Posts: 125 Forumite
edited 21 February 2019 at 11:51AM in Debt-free wannabe
Alright guys you might remember I got my £2,149 debt down to a F&F settlement offer of £450 with a debt collection agency I was advised to get the offers in writing before agreeing anything so I am attaching a copy of one of the email PDF here is this enough to proceed? It does state F£F on the bottom
'Save £1,100 in 2019' #81

£50/£1100
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  • sourcrates
    sourcrates Posts: 28,974 Ambassador
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    Unfortunatly its impossible to read, as its far too small.


    As long as it states the amount you pay will partially settle the debt, and nether the creditor, nor there agents, will chase you for the remainder, then your good to go.
    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-letter
  • MovingForwards
    MovingForwards Posts: 16,975 Forumite
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    Your letter confirms the amount you are paying by instalments an offer and interest, doesn't say the debt won't be passed on.
    Mortgage started 2020, aiming to clear it in 2026.
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
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    I can read it after enlarging the page. From what I can see, the amounts are wrong. The letter says:
    Agreed settlement amount £45.43
    Instalment amount £15.14

    Shouldn't that be £454.30 owed and instalments of £151.40?

    I'm just going by your post when you said the amount offered was £450 …

    (or am I reading this incorrectly?)
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • MovingForwards
    MovingForwards Posts: 16,975 Forumite
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    Balance is listed top right.

    So they are accepting £45.43 as final amount?

    (My other post should read instalments not interest)
    Mortgage started 2020, aiming to clear it in 2026.
  • sourcrates
    sourcrates Posts: 28,974 Ambassador
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    After discovering my PC can zoom in certain programs......clears throat......it apprears to be a standard response letter from Lowell.


    If you email them back and get them to confirm the remaining (small) balance, will not be chased, they will do so.
    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-letter
  • System
    System Posts: 178,102 Community Admin
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    I strongly suggest emailing them asap. Make sure they reply with confirmation that you shall not be chased for the debt by orange(ee) or any other third party after paying the agreed settlement amount. Without that there is a good chance lowell will sell the remaining debt to someone else. There emails usually end up in spam folder.
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
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    edited 3 February 2019 at 3:37PM
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    MovingForwards wrote: »
    Balance is listed top right.

    So they are accepting £45.43 as final amount?
    I'm just going from this post below:
    bradqwer wrote: »
    I had £1,846 worth of unsecured debts with Lowell I wrote my first SOA and F& F letter to them last week offering to pay around 30% of this debt and got the email today agreeing to settle for £450 just be frank in your letters I simply couldn't find any funds to pay of these amounts and they had been chasing me 2 years for them I informed them I would make 3 x £150 payments and clear it or they could chase me without much luck and they agreed
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • bradqwer
    bradqwer Posts: 125 Forumite
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    Cheers guys yea I will get on to them now asking them to confirm that all the accounts will be settled fully as agreed be the 3 payments of £450 and that there will be no passing on of the debts to orginal creditors or other agnecies
    'Save £1,100 in 2019' #81

    £50/£1100
  • bradqwer
    bradqwer Posts: 125 Forumite
    edited 3 February 2019 at 7:41PM
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    Here is my email sent to them this afternoon I think this is fine??

    Without Predudice

    Good evening,

    So I am prepared to accept this payment arrangement however after seeking advice from money saving expert and my own family I am asking that I have written email in relation to the individual debts owed that 1) you agree this is a full and final settlement offer ( I think this was kind of provided in the last breakdowns but if you could provide this on a separate letter for each individual account you hold for me that would be great) and 2) That as its full and final I will not be held liable for the remaining balance be it to the original creditor or should you decide to sell these to another debt collection agency.

    Once I have this in writing or vial a downloadable PDF I will be happy to commence payments.
    'Save £1,100 in 2019' #81

    £50/£1100
  • System
    System Posts: 178,102 Community Admin
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    That should do it. Just dont make payment without it. I dealt with lowel via orange account. Majority of there emails ended up in my spam folder. My argument was with orange as they promised the best coverage but for 8 hours a day i had no signal. That was at work 5 minutes away from there shop. Long story cut short, lowel had no proof i had a contract with orange, so they closed the account.
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