Full and Final Settlement

This option is available if you have a lump sum available that is less than the total amount of debt you owe in your unsecured debts.

In these circumstances an offer can be made to your creditors to accept a percentage of the total debt as a one off payment, and in return they write off the remainder of your debt.

This is a process that MUST be done in writing and should not be entered into unless you have written confirmation from your creditors.

I would like to discuss this option with GEMAP