Bit advice needed please.
I got into a bit financial mess last year, mainly due to losing my job. Anyway no need to go into all that.
To the point, I still owe an amount to a company, and have negotiated a settlement figure with them (which would be around 60% of what is owed). However my problem is with how the settlement document is worded.
Further to our recent telephone conversation we can confirm that subject to your full remittance of £ ____ on or before __________ , this will be accepted as a partial settlement. Please note this will show as a partial settlement on your credit file, however, neither we nor our client will pursue you any further in regards to the above account.
See my problem is, can they still chase me for the remainder, or even sell this debt on?
Or is the way it is worded fine, and would have no more bother once the amount has been paid?