Response to Full and Final Settlement

Put simply this means that you must pay the settlement by the date specified and that long winded bit in the middle means that they also intend to use any additional security such as an endowment or other linked product towards the shortfall. If there was no endowment or other linked product that they can cash in then it is straight forward. I dont know the collector or agent who is sending you this but it sounds very similar to what Eversheds put in their settlement agreement letters. You would be perfectly within your rights to ask for a full explanation from the writer of that letter as to what is actually meant by it. Do not sign anything or finalise anything until you are 100% sure of what it means. Hope this helps. L

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