Full and Final Settlement Offer advice please

[Crystal_M]

I am currently paying off 3 credit card debts to creditors via small monthly payments. They are all debt collection agencies.

I received a 50% discount on one of them a month ago, and tried to counter offer which was declined. Now the other creditor has offered me a 60% discount to settle my account and allow me to pay via 3 instalments. I would like to take up this offer as I can start making a dent in my debts, but have never dealt with debts before so am unsure what I should state when replying to ensure the debt is really settled (e.g., “full and final settlement”) They also said in the offer letter "…. by providing this discount we're letting you pay less than is due under your original agreement. Your payment plan is a non-contractual waiver of our rights and doesn't change the terms of your original agreement" Does this mean the debt is not really cleared and they could ask for the discount amount at some point?

I have also read on another forum, that I should ask for a copy of the CCA before agreeing, however I am unsure how to ask for this. The original credit card company did inform me that they sold the debt to the debt company offering the discount.

Can someone advise me what steps I should take to protect myself please?

[echat11]

Hi Crystal_M

Welcome to LB

To request your agreement send the following, make sure you get Proof of Postage.
But remember, just because they've something, doesn't mean it's compliant.

https://legalbeagles.info/library/gu...etter-example/

Send the following after you've received the CCA and your satisfied it's compliant.

If it's not compliant, you can make a counter offer to settle the account, but make sure you
write 'Without Prejudice' on the offer letter. Remember they bought the debt for 'pennies'.

Remove the first line in the letter below. Make sure you get Proof of Postage.

https://nationaldebtline.org/get-inf...tlement-offer/

No it doesn't mean that.

'Does this mean the debt is not really cleared and they could ask for the discount amount at some point?'