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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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I am trying to educate myself regarding making Full and

Customer Question

I am trying to educate myself regarding making Full and Final Settlements to
Creditors watertight.
One Creditor has accepted 40% Payment in full and final settlement of the debt.
However, the terms in the letter appear a little wooly and contradictory.
I want to send the Payment but also ensure I am covered and properly treated regarding
Credit File updates and that I will not be pursued for the outstanding balance.
They say that the outstanding balance after the 40% full and final payment will remain
on my credit files. Won't this leave me wide open to a debt collector?
I have seen on CAB site that a deed may be required to get things legally watertight.
I have a number of creditors and this is the first one to accept my full and final offer.
Help! Thank you
Submitted: 1 year ago.
Category: Law
Expert:  Jamie-Law replied 1 year ago.

Hello my name is ***** ***** I will help you with this.

Have they accepted the offer in full and final settlement?