Do creditors always have to give a paid in full letter after settlement?

Hi Curtis,

First, make sure all your settlement payments are cleared. Second, most creditors won’t send you the “paid in full letter” for at least 30 days after the last payment is cleared. So, it’s advised that you should call your creditor after 30 days of your last payment. You can call your creditor and request for a Settled in Full (SIF) Letter. But, don’t forget to keep a copy of your money order or cashier’s check.

Generally, creditors won’t give you a SIF, but most them provide due to courtesy. If your creditor don’t send you a SIF letter, don’t panic. As long as you have your original settlement letter and cashed checks you’re safe. The SIF letter is just an extra protection.

Best solution....get a settlement offer in writing prior to making any payment. They can fax it you. Then make your payments. If paying by check, print off a cashed copy of your check from your banks website. . Clip them together once the debt is settled or paid in full. No need to get a paid in full letter, which they probably wont do