F&F Settlement offer

[Daddy Gremlin]

HI,


I have used the excellent templates on the website to seek F&F settlement offers from my creditors, I offered approx. 30% to all creditors.


I have received letters from a few of the creditors stating they are willing to settle on these terms.


I am a little worried about the letters from the creditors, I was hoping someone could offer me a little advice on whether the wording in the letters is enough to protect me if, further down the line, the creditor tries to chase me for the other 70% of the debt.


I have attached a photo of the wording from Apex credit management and below is an extract from the Barclaycard letters:


"We are prepared, without prejudice, to accept £988.00 in full and final settlement of the debt, provided that the payment is made by the 12 September 2014"


Any help would be greatly appreciated

[oscar]

Re: F&F Settlement offer

That looks good to me.

However there are others more knowledgable in F&F settlements so wait confirmation from one of those.

[Daddy Gremlin]

Re: F&F Settlement offer

Many thanks for the reply Oscar.

[MrsD]

Re: F&F Settlement offer

did you register for our templates and use our carefully worded template letter to make the offer in the first place?

you don't want them coming back or selling the balance on to some lowlife who will then need to be dealt with.

[IF]

Re: F&F Settlement offer

Hi DG, do have a look here and register -- > Accessing Our New Templates

[IF]

Re: F&F Settlement offer

.........also do read Niddy's sticky too -- > UPDATED - Full & Final Settlements Explained

[Daddy Gremlin]

Re: F&F Settlement offer

Thank you all for your replies.

Below is a copy of the letter we sent out. We have been trying to negotiate F&F settlements for approx. one year now and this is the template we have used.

All of the creditors have replied to our letters with a letter asking us to discuss the offer over the phone, as such all the offers we have received have been off the back of telephone conversations, only then do we receive the letters (see extracts in original post) offering F&F settlement.

Our concern is that we are having great difficulty in getting some of the creditors to change the wording of their 'standard' F&F letters i.e many of the letters do not state anything about the account showing nil balance.

Hope my waffling makes sense!!!

[Frosty873]

Re: F&F Settlement offer

Hello - just browsing through the forum and wondered how you got on with these F&F offers (as I see this was posted a little while ago)? We are saving up each month and hoping to make offers in a few months time, but by that time its likely we will only have about 30% (ish) to offer. Just wondering how long it took you to get to this point etc.