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Sample Full and Final Settlement Letter 


The following text could be used in a letter to send to creditors if you wish to work out an offer of payment in full and final settlement.


Creditor name
Address & postcode

Dear Sir or Madam:

RE: Account No __________

I am currently unable to pay the money which I owe in full because __________. However, I have been able to raise some short-term funds and would like to offer you £_____ as an ex-gratia payment in full and final settlement of the account. This offer is made to you on the clear understanding that, if accepted, neither you nor any associate company will then take any action to enforce or pursue this debt any further and I will be released from any liability.

I also request that, if accepted, you will mark any entry on a credit reference agency file relating to this account as being “satisfied” in full.

Payment can be made within _____ of receiving your written agreement of this offer.

I thank you for you cooperation at this time and look forward to your response.

Yours truly,