AIC Accept Full and Final Settlement
This is the letter that was received from Allied International Credit (AIC), accepting a full and final settlement on behalf of Capital One. The original debt to Capital One was for £3,750 and was settled for £1,128 with the debt collection agency (DCA).
“Further to recent communication we can confirm that subject to your full remittance of £1128 on or before 18 Jan neither we nor Capital One will pursue you further with regards to the remainder of the balance. Please not that this account will show as partially settled on your credit file and will only show as fully satisfied if you pay the full balance.”
This is an excellent result and the crucial thing now is to ensure that payment is made to them before the allocated date!
How Much to Pay Creditors in a Full and Final Settlement
Determining the appropriate payments to creditors in a comprehensive settlement involves a careful analysis of financial factors. To aid in this process, a specially designed spreadsheet, referred to as the “Full and Final Settlement Spreadsheet,” is available to download from the Johnny Debt Download tab. This spreadsheet employs a pro-rata split methodology to ensure a fair distribution of funds among creditors. For a detailed understanding of how these calculations are carried out, I invite you to refer to the aforementioned spreadsheet. It serves as a practical tool, utilising data and calculations to offer transparency and insight into the allocation process.
The Importance of Funds Being Held by a Third Party or Family Friend
Placing funds under the care of a neutral third party or a trusted family friend holds real importance. It’s not just about keeping the money safe. It’s a smart move that brings a bunch of benefits. Firstly, it’s like having additional proof of the settlement agreement everyone agreed upon. This extra evidence makes the deal clearer and even stronger legally. Plus, having someone else involved stops a creditor from dragging things to court and trying to force a third-party debt order. This way, your settlement stays solid and secure, and all parties can feel more at ease about the whole situation.
Many Full and Final Success Stories
There are loads of success stories on the Johnny Debt website about people who’ve managed to sort out their money stuff with full and final settlements. If you’re curious and want some great ideas, you should totally check out this site’s section on full and final settlements. These stories give you a bunch of tips and clever tricks that helped these people score awesome settlement deals. Whether it’s how they talked things out, smart moves they made, or just understanding the process better, these stories are like a treasure chest of useful info. Reading through them is like getting advice from people who’ve been there, done that, and it could really help you get a good deal on your full and final settlement too! A good place to start would be Full and Final Success Stories, where you will find an index of full and final settlement achievements.
Owning a Property and Full and Final Settlement
Owning a property while dealing with full and final settlements can be tricky waters to navigate. Having equity in your property might actually work against you, as creditors could opt to turn down your settlement offer. They might prefer going through the courts and obtaining a charging order, which could potentially lead to eviction and the sale of your property. It’s crucial to understand these implications and explore all your options carefully to ensure a secure financial outcome.