Full and Final Settlements
Wipe out debt with
a full and final settlement
A full and final settlement is where a borrower makes an offer of a one-off partial payment to a creditor in exchange for the full settlement of a debt. Offers can be either an informal or formal proposal to bring an IVA to an early conclusion.
Full and final offers are suitable when you are able to make a lump sum payment, but have not got the means to make continuous contractual payments.
Benefits of a Full and Final Settlement:
- Part of your is debt written off. On some occasions we have saved clients up to 50% of their total debt.
- It offers you an immediate chance of a fresh start.
- Creditors should inform credit reference agencies that the debt is settled in full.
- Allows you to remortgage where there isn't enough equity available to clear your debts in full.
How Harrington Brooks Can Help
In most cases, settlements are offered to creditors for our existing debt management or IVA clients to bring those arrangements to an early conclusion. However, we also arrange settlement offers from new enquires, whether the client is on a debt management plan elsewhere or not.
We arrange full and final settlements every day and have a dedicated team who are experts at negotiating with creditors in such matters.
We work out your total debt and make a pro-rata offer to each creditor depending of the percentage of the total debt owed to them. It has to be this way as we would need to explain to each creditor about all your debts, so that all creditors are treated equally. We would also request that defaults are not recorded against you.
Considering a Full and Final Offer?
Call Now on 0844 871 2595 or use the form below to get started.
Note: This service is open to everyone, not just Harrington Brooks clients.
Protecting Your Privacy