A full and final settlement is an offer to partially repay your outstanding debts on the condition that your creditors agree to write off the remainder of the debt. It is a suitable solution to your debt problems if you have access to a lump sum of money such as from sale of property, savings, remortgaging or inheritance. Offers are usually based on a fair proportional basis which reflects the amount owed to each creditor.
The advantages of making a full and final settlement offer include –
The drawbacks of making a full and final offer include –
Whether or not creditors accept the full and final settlement offer will depend on a wide range of circumstances. Our advisors will discuss these in detail with you to ensure that we present your case in the best possible way. We will work with you to determine how much you can offer to each creditor with the finances you have available.
For more information on full and final settlements and on all other debt solutions call us today on 0800 043 50 43 or complete our enquiry form.
Please be advised that all of our initial advice and information is completely free and without obligation. However charges may apply if you decide to take advantage of one of our services.
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Total unsecured debt : £4000