Is this settlement letter ok?

ricky_balboa

Hi all,

I would appreciate some advice/opinions on the following reduced settlement letter.

http://i740.photobucket.com/albums/xx49/slightly78/IMG-1.jpg

This debt is from a hire car purchase taken out a few years ago with Black Horse.The car was returned and left an outstanding debt of just over £3100.This was then chased by a couple of different DCA's before ending up with mackenzie hall.I offered them £800 as a reduced full and final settlement on the understanding that they sent an acceptable letter.

Is there anything you feel is a grey area in the letter should i settle.I intend to make the payment with a cheque from a family member accompanied with a letter stating that the cheque should only be cashed if this closes the account and my credit file is updated as settled.I will also state that no neither black horse, mackenzie hall or any third party will not pursue this debt any further.I will also put that if they dont agree to this, they should return the cheque uncashed.

I have already gone down the route of checking the liabilty of the cca for this debt, and believe this is ok, i just wish to settle at this greatly reduced rate if this is the last of it i hear.

I have one curious point about this debt, i checked my credit file and found that black horse who still own the debt have defaulted the account yet.Also the amount owed is posted as around £2700.
Even with this information i believed that settling at only £800 would still be a good offer.

thanks in advance for any opinions and help

ricky

Culex

How many years ago was the alleged debt incurred?

MucKenzie Hall has some notoriety for buying stature barred debts (or soon to be statute barred debts) and making its money from the considerable margin between what they paid and what they'd accept in settlement.

Also, do you reside in England, Wales or Scotland? Scots Law is a little different...

fatbelly

The letter itself looks OK but, being Mackenzie Hall, there's a suspicion that something is not quite right here.

ricky_balboa

The debt is from 08/07 and the car was returned in 07/09, which was the last payment.

I live in England, so Scots law dosent apply.

I have noticed an error on my original post.

"I have one curious point about this debt, i checked my credit file and found that black horse who still own the debt have defaulted the account yet.Also the amount owed is posted as around £2700"

This should read that Black Horse who are still named as the owners of the debt on my credit file havent defaulted the account yetand the amount of credit posted on the file is about £400 less than the amount mentioned in correspondance.But i do believe that the higher amount is the amount owed.

I would like to settle at the reduced amount, but find the credit file information rather odd, and i dont trust mackenzie hall.
Should i contact Black Horse about settlement?

thanks again

Culex

ricky_balboa wrote: »

I would like to settle at the reduced amount, but find the credit file information rather odd, and i dont trust mackenzie hall.

You are not alone in having such feelings. Many other people feel the same way and it has nothing at all to do with vanting to kill your father und sleep mit your mother.

Should i contact Black Horse about settlement?

Yes - anything that denies MuckHall a few shillings must be worthwhile.

bottleofred

Hi Ricky,

The settlement letter actually looks ok and I'm surprised the Muck Hall have sent it. However, I wouldn't trust the barstewards as far as I could spit, so be 100% sure this will be the end of it before paying.

crazyguy

You should never pay anything unless you have a confirmation letter stating the terms of a reduced payment offer, ie no mark as unsatisfied on credit file and no other collector to be involved at any stage, only when you have this do you send a payment in !

ricky_balboa

thanks for the replies,

my letter (see link in 1st post) from "muck hall" does state that my credit file will be updated as "settled" and that "no third parties will contact me in future with regards this account" so isnt that good enough?

what other ways could i make sure that this is the end of the account if i settle?

As i said in the 1st post i intend to send a cheque from a relative (ie third party) and accompany it with a letter saying the cheque should only be cashed under certain circumstances, if these circumstances cant be met the cheque should be returned.

if i phone black horse, what else can i ask but is mackenzie hall working on behalf of them?

fatbelly

ricky_balboa wrote: »

thanks for the replies,

my letter (see link in 1st post) from "muck hall" does state that my credit file will be updated as "settled" and that "no third parties will contact me in future with regards this account" so isnt that good enough?

what other ways could i make sure that this is the end of the account if i settle?

As i said in the 1st post i intend to send a cheque from a relative (ie third party) and accompany it with a letter saying the cheque should only be cashed under certain circumstances, if these circumstances cant be met the cheque should be returned.

if i phone black horse, what else can i ask but is mackenzie hall working on behalf of them?

Yep, I think that's all about right.

I don't understand why Black Horse are choosing to use MH but that's how it seems.

chanz4

It looks fine, a lot on here dont even trust themselvs. Just make sure you save the letter.