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I just pay DCA the last payment for a loan I had with Money Mart. They are a collection agency and surprisingly enough have been very accomodating to deal with. I did confirm that the money I was sending them was being sent to Money Mart as I touched base with Money Mart to find out about my account balances after each payment. My contact said she will be sending me a full and final tomorrow. Could someone please advise what a full and final should look like and what information it should have in it. Thanks.

One Down

Congratulations! A full and final can look almost any which way according to the company. Basically the key words that need to be in it are paid with zero balance, and perhaps the account # and company name.


Sub: #1 posted on Thu, 03/23/2006 - 00:52

Teleport Teleport

(Posts: 1388 | Credits: 401.89)

YAY! Congrats! Lets get some cake! :)

Yes, make sure to get the "paid in full" in writing so they can't bite you in the butt later on. That's the biggest problem with any collector..They all of a sudden forget you paid...

Now to get everything else paid off! YAY!

Sub: #2 posted on Thu, 03/23/2006 - 00:58

Jessi Jessi

(Posts: 3361 | Credits: 269.59)

make sure to that it reflects the date of the payment

Sub: #3 posted on Thu, 03/23/2006 - 01:35

jj jj
(Posts: 1057 | Credits: 107.78)

I just received the full and final release from DCA. It looks like a letter and reads as follows:

In the matter of Money Mart vs. ______ Money Mart Account ______ Known all men by these presents that Money Mart in consideration of the full payment of _____ in Canadian currency, hereby releases _________ respective heirs and assigns of all actions, claims and demands which Money Mart and its respective administrators, successors or assigns here after can, shall or may have reason of relating to or assignnig out of Money Mart File No. ______.

It has DCA's address on the top left hand corner with all their particulars and is dated with today's date and signed and witnessed.

Would you happen to know if everything need for it to state is in it?

I am so excited - one down!

Sub: #4 posted on Fri, 03/24/2006 - 03:17


That looks good. It is probably the most complete one I have ever seen. congratulations

Sub: #5 posted on Fri, 03/24/2006 - 04:07

jj jj
(Posts: 1057 | Credits: 107.78)

Thanks JJ!

Sub: #6 posted on Fri, 03/24/2006 - 19:37


That is a Release of Claim, It is a document that releases you from the debt. Note that you should keep that ROC as well as the settlement letter that they orginally sent you and a copy of the reciepts or your bank statments showing when it was withdrawn. Keep these records as you would the title of your car. The credit reporting agencies can and have in the past

Sub: #7 posted on Fri, 03/31/2006 - 10:45


---- sorry hit enter on accident ...

.. as I was saying credit reporting agencies can re post the debt... Transunion seems to be the worst about updating those are the tools you will need to slay the dragon.

Also know that if it does creep back up that you can file a CDV (consumer Dispute Verification form) with the credit bureaus and) according to the the FCRA (Fair Credit Reporting Act) they must respond with in 30 days or it will be deleted.

Sub: #8 posted on Fri, 03/31/2006 - 10:49


Thanks Boyd. I have all the carbon copies of the money orders I sent to them - that is the way I choose to pay them. Believe me, I have kept everything just in case . . . . you never know.

Sub: #9 posted on Fri, 03/31/2006 - 20:10


np ONE, one thing you need to do and as a Dispute Fraud Coordinator I see this a lot. Keep your Settlement Letter (if you did a settlment) I can not tell you how many incidents that come accross my desk where. Someone had $7000 account and they settled the account out for $4000 at one point in time. But, their due date was say the 31st of the month and it was received to at the other agency on the 6 of the next month. Most have a leeway time period usually 3 days. I always recommend that people either do WUQC or that they send in a money order certified mail. (I have had a case where someone had to pay off a debt in order to refinance a house and they sent a large sum via Money order that never arrived and it took 4+ months for the USPS to refund the money on the lost MO. Needless to say they did not get their refinance.) This way you have the proof you paid it off (receipts) the settlement letter saying they will settle for x amount, the proof you paid it on time (receipts) and then the ROC. The ROC is the most important part it releases you from the debt.

if you got any questions and I can help let me know. (I do apologize for the hasty response though) and keep going it does get better.


Sub: #10 posted on Fri, 03/31/2006 - 23:17


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