Help with letter recieved

gems3286

Hi All,

Needing a letter help in understanding a letter a have recieved today from one of my debt companys that i took out a loan with the letter states.


Dear Miss xxxx

our clintes name: xxxx
account number: xxxx
balance outstanding: £0.00

Thank you for your payment

Your debt is now considered to be satisfied and we can confirm that no further action will be taken against you.

Any standing orders or direct debits you have set up in favour of this account should now be cancelled with you bankers.


Thing is this account is set up on my dmp and i have only been making payments through my plan so don't understand what this letter means.

Any help would be great.

lozzam

It sounds to me as though the loan as been fully paid, or the company has decided that it is cheaper for them to write off any remaining balance. :beer:

So that means that whatever you were paying to that company can be split between remaining creditors and you can be debt free that little bit quicker. :j

RAS

Send a copy to your DMP provider and make sure they stop paying them.

happyhaddock_2

Well done for clearing it :T