When you make the final payment under an agreed arrangement and it clears, the account is settled. The balance reaches zero, recovery activity ends, and the matter is closed.
We update the original creditor so their records reflect that the account has been paid in full. If you would like written confirmation that the account is settled, ask us — a closure confirmation is something many people like to keep for their records.
Completing an arrangement is the outcome we are working toward with you. If your circumstances change before the final payment and you think you may struggle to finish the plan, contact us early — it is far easier to adjust an arrangement than to recover a missed one.
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