Just wondering if final settlement is a good option to take.My partner is through churchwood but it is going to take a long long tie to clear it due to the low payments they are giving the creditors.Recently a number of creditors ie wescothave offered to scrap half thats owed if he pays half of the debt but we dont know what to do as we are scared if we pay it that they'll come back months later to get the rest or if it is a scam . Please can any1 give us some advise. Thanks Donna
Final settlements are only one option that will be available to you. Others may include bankruptcy or IVA I would suggest you try giving an expert a call or e-mail they will be able to give you good advice
Full and final settlements are not a scam and a number of creditors are using this to at least re-coup something from a debtor. If you do go down this route, you must ensure that you get confirmation in writing informing the fll and final agreement.
If you do not own any assets or have disposable income, bankruptcy may be an option that you should seriously consider. You will then not have to pay your creditors anything.
John Blackadder ***Company name removed as advertising not allowed***
***John, please can you not put your company name in your signature. Only experts are allowed to advertise their companies in this way. Thanks***
Just wondering if final settlement is good option
Posted - 01 April 2009 : 22:45:45
