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• 1. S

     What does this statement mean in a debt settlement letter?

     It does state under A. ii the following: " in full satisfaction of the amounts outstanding" And above that under the Whereas statements it states: "the current outstanding balance owed to Xxxx(company name) under the terms of the Contract is $10,000; "

     • stjones2023
     • Post #10
     • Oct 25, 2023
     • Forum: Debt Collections
  2. S

     What does this statement mean in a debt settlement letter?

     We voluntarily turned over the vehicle and it has been sold. There was still a substantial amount owing even after the sale. The company has stated that the settlement will fully satisfy what is owed. I just want to clarify the other part that appears contradictory. I'm fine if they retain their...

     • stjones2023
     • Post #8
     • Oct 25, 2023
     • Forum: Debt Collections
  3. S

     What does this statement mean in a debt settlement letter?

     Thank you all for your responses. I guess ultimately what my question is will the settlement amount fully satisfy the debt? Or will the company still be able to attempt to collect on the debt that they are supposed to be forgiving? The settlement letter specifically states the following...

     • stjones2023
     • Post #6
     • Oct 24, 2023
     • Forum: Debt Collections
  4. S

     What does this statement mean in a debt settlement letter?

     What is the name of your state? Arizona. We have a debt settlement offer from the company. The letter does outline the amount we are to pay "in full satisfaction of the amounts outstanding under the contract". However it also includes this statement below (what does this statement mean?)...

     • stjones2023
     • Thread
     • Oct 24, 2023
     • Replies: 13
     • Forum: Debt Collections