Step 3 Choose your debt solution – Debt solutions at a glance 3 3. Using assets Full and final settlement offers If you have a lump sum of money available, you can ask your creditors to accept a Using assets part-payment towards the debt and have the balance written off. Sometimes, creditors will accept payments over several months instead. What debts are Non-priority debts usually. included? Is there a minimum or No. maximum debt amount? How long will it last? As long as it takes to make the agreed payment. Is there a fee? No. Some things to consider You will need funds available to make the offer. It aims to pay back less than you owe. It offers a fresh start. If creditors do agree, always get it in writing before you make the payment. Your creditors do not have to agree to this. See our Full and final Some creditors may decide to take court action to recover settlement offers fact the whole debt, if they think you have a lump sum of sheet. money available. Page 79