What are full and final settlement offers?
Many of our clients that use Debt Management go on to settle their debts early by using our Full and Final Settlement service. If you find yourself in the position of being able to release some equity from your property or come into some money from some other source, you may like to settle some or all of your debts. There are two ways of dealing with this. If you are looking to settle just one account, we can approach that creditor to find out the discount that they would be willing to offer using their current policy. Creditors vary in their approach to this and will offer different discounts. The second way of using the Full and Final Settlement service would be to have a lump sum available to settle all of your accounts. We can approach the creditors and make offers to all of them on a pro rata basis. This means that each of the creditors get a fair share of the money so the largest debt will get a larger amount and the smallest debt will get a smaller amount. If the creditors think
Related Questions
- My current laboratory offers me their final column discount most of the time without going through a purchasing group. Why should I change my lab and/or my billing to Red Tray Optical?
- What if the workers’ compensation company offers a final settlement that I’m not sure is enough for my injury; do I have to accept the settlement?
- What is Final Billing Offer (FBO)?
