I have a debt of approx £50k jointly with my ex husband, I have made an offer to the bank of £2,500 and write off the remaining debt for myself only. Please can anyone tell me if the below is ok and that after I have paid the bank that will be the end of it... is there anything else I need to ask the bank before writing out the cheque.

This is what was included in the letter to my solicitor:

The RBS wrote: As a special matter in acknowledgement of your Clients circumstances, the Bank will accept the offered £2,500 in full and final settlement of her residual liabilities.

The above is agreed on the basis that it is in full settlement of all related matters currently outstanding between us and that the funds can be made availble within the next 28 days.

The bank does however reserve the right to continue to seek full repayment of the residual joint debt from Mr XXXX.

My assistant, XXX, XXX, will now wait receipt of your cheque in settlement, following which the relevant Register of Defaults will be marked as satisfied in accordance with our normal practice. ------------------------------------------------------------ Finally got there in the end after fighting for 2.5 years. Thank you everyone for your advice

-- B Gill (baljinder_gill0@hotmail.com), November 24, 2002

Answers

Well done! Enjoy the rest of your life. :-)

I would be grateful if you would post in the Q&A the full name of the assistant you XXX'd out. Not your ex-husband's name, just the RBS assistant.

Excellent news!

Lee

-- Lee (repossession@home-repo.org), November 24, 2002.

Don't forget to include any MIG payment (and therefore the insurers) in your "full and final" settlement. The insurance co might still chase you for that part outside of the agreement with the bank.

-- Too scared to say (iwasduped@yahoo.com), November 24, 2002.