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can I pay on this letter please
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debtfree1day
Posts: 382 Forumite
In late July, I wrote to lots of creditors offering f&f. I received a response from MHA collections - quoting Lloygs ac no , although previously I had only heard from Lloyd and then SCM solicitors
Dear xxxx
We would like to offer you the chance to clear the balance on your account by reducing the amount you owe us. Your total balance is £xxxx.xx. We are willing to accept xxxx as a partial settlement figure to us, if you can pay this within 28 days from the date of this letter. This would mean you could save £xxxxx and we will not ask you for any more payments.
Once you have made the payment and your account is closed your credit record will be updated to how the debt as partially settled for 6 yrs. It will take an ave of 28 days for the account to be closed, even if you make the payment befopre the agreed payment date. Once the payment is made any remaining balance will be written off and not pursued. If for any reason the payment date is missed, this offer may not be avaliable again and payment will still be due to the account. If you are currently making a redular payment via SO/DD towards your account and wish to take up this with the settlement, we recommend that you cancel this payment with immediate effect. If you do make any additional payment before your settlement is due, then these will be used against your settlement figure. We are happy to help you with any questions you may have, for your info; we sometimes record calls to help us protect your security and improve our service.
I am happy that my credit file shows partial as I never ever ever want credit again, and I have numeorus deafults and partially settleds on there....
please advise
Thank you!
Dear xxxx
We would like to offer you the chance to clear the balance on your account by reducing the amount you owe us. Your total balance is £xxxx.xx. We are willing to accept xxxx as a partial settlement figure to us, if you can pay this within 28 days from the date of this letter. This would mean you could save £xxxxx and we will not ask you for any more payments.
Once you have made the payment and your account is closed your credit record will be updated to how the debt as partially settled for 6 yrs. It will take an ave of 28 days for the account to be closed, even if you make the payment befopre the agreed payment date. Once the payment is made any remaining balance will be written off and not pursued. If for any reason the payment date is missed, this offer may not be avaliable again and payment will still be due to the account. If you are currently making a redular payment via SO/DD towards your account and wish to take up this with the settlement, we recommend that you cancel this payment with immediate effect. If you do make any additional payment before your settlement is due, then these will be used against your settlement figure. We are happy to help you with any questions you may have, for your info; we sometimes record calls to help us protect your security and improve our service.
I am happy that my credit file shows partial as I never ever ever want credit again, and I have numeorus deafults and partially settleds on there....
please advise
Thank you!
0
Comments
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cheeky bump0
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Seems pretty much OK.
As you say, a partial settlement marker on your credit reference files is to be expected. I would have preferred to see them say that the outstanding balance on those would be reduced to zero, but it's sort of implied in making a settlement anyway so not a big deal.
I would have also preferred an explicit statement saying that they will not sell on any outstanding balance to a 3rd party. Debt collector/buyer etc.
It's usually a good idea to run the terms of these offers past somewhere like National Debtline. Their advisors are normally pretty clued up on what to watch out for. Phone free on 0808 808 4000.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
THANKS fermi
I spoke to the national debtline, they were as always very polite and helpful,
With the usual caveat they are not solicitors they are quite comfortable with the letter
I am going to pay tomorrow0
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