Full and Final or Short Settlement offers may be accepted by creditors when debts are considered as non-collectable. A full & Final Settlement/Short settlement offer is an figure less than the total owed to the creditor, offered to be paid in a lump sum payment to clear the debt, if the creditor accepts, it is deemed as settled or satisfied and no further collection action will be taken by the creditor or another collection agency.

If you work hard at it you can get a real significant percentage of the debt written off!

How to Achieve a Full and Final Settlement

I have written a number of posts about achieving a full and final settlement, and there are many examples of short settlements that have been achieved with creditors. Search this site for Full & Final Settlement, you will see more results of settlements and also information on how to achieve a full and final settlement or short settlement.