MBNA Partial/short settlement offer - Pls advise

clowders

Hi all,

Its been a while since I have posted on here, but am wondering whether anyone can offer me some advice on MBNA's Partial/short settlements.
I have been given the 'opportunity' to pay £4,300 to clear a £10,500 debt. I think my mum will help with this.

Brief history; ill health during pregnancy, premanture child, made redundant, resulted in lots of debt.

My problem; I am very concerned that after I make this payment, MBNA will simply sell this debt on and someone else will chase the debt. Do you think the letter below will cover this; would a court for instance find favour with me if someone did pursue this debt a later stage or am I simply wasting my time.

My credit file is shot to pieces and am fed up of having this debt hanging over me so I am not too concerned about having a partial settlement showing on my credit file. I really would like to move on with my life, (copy of letter below) please advise.

Allied International Credit (UK) Limited
Anderston House
389 Argyle Street
Glasgow
G2 8LR

22 March 2010

WITHOUT PREDJUDICE

Dear Sir/Madam

Reference Number: 99999999 MBNA
I am writing with reference to the money which you are claiming on the above MBNA account.

Regarding our discussions regarding the options of settling this account over the telephone. I confirm I may be able to raise £4,300 to offer an ex-gratia payment in return for a partial and final settlement of the account. This payment would be made by internet banking via a 3rd party.

This offer is made on the clear understanding that, if accepted, neither you, any associate company, any debt collector or other third party will take any other action to enforce or pursue this debt in any way whatsoever, that no other payments will be demanded and that I will be released from any liability.

I also request that, if accepted, you will make an entry on a credit reference agency file relating to the above account as "satisfued" or "partially satisfied" and the balance set to £0.00/nil.

This offer is available until April 15th 2010. Payment can be made before 31st April 2010, if I receive your written agreement to this offer on or before 15th April 2010.

I apologise for any inconvenience to you but to ensure that there is no future confusion or misrepresentation written confirmation on the above is required.

I look forward to receiving your reply in writing.

Yours faithfully

Clowders
CC. MBNA

fatbelly

Looks good to me. Hope you get the confirmation from them. I have known MBNA give these deals to a few people and have always found them to deal honestly.

clowders

Thanks for the support and advice, i'm a bit apprehensive as they only state they will not refer the debt on to related companies and not 3rd party companies.

Hopefully if they are serious they will include this anedote, else I'm not sure I would feel comfortable making a payment to them.

WRINKLES

get them to state full and final