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Full and Final Settlement Offer

Professional and confidential help from our friendly advisors.

Full and Final Settlement Offer

Are you struggling to make payments on your debts? If you are then a full and final settlement option might the best choice for you.

A full and final settlement offer is...

... a sum of money that you offer your creditors  to pay back part of the amount you owe, in one payment, on the condition that any outstanding amount will be written off.

Is a full and final settlement offer an option for you?

If you have a lump sum of money – from selling assets, a lottery win, inheritance etc – then you are in a position to make a full and final settlement offer.

How will a full and final settlement offer help me?

It will benefit you if your creditors accept your offer. Your debts will then be cleared much quicker leaving you with far more disposable income each month, as well as the possibility of a debt-free future.

Most creditors accept full and final settlement offers on debts as they prefer receiving one lump sum, rather than smaller, monthly payments over a longer time frame. If your financial circumstances become even more stretched, then your creditors know they will be unlikely to receive the full amount – accepting a smaller portion of the overall debt, than no money at all is preferable!

Are there disadvantages with a full and final settlement offer?

The only downside is that your creditors may not accept your offer. If they do accept your full and final settlement offer, then this will show on your credit file for 6 years.

Can Debt Advice Scotland help me?

Yes, we can! We have helped and advised hundreds of customers thinking of offering full and final settlements to their creditors. Having your offer accepted leaves you free from the worry of being chased by creditors. Get expert advice, contact Debt Advice Scotland NOW!