Full and Final ACCEPTED

Fabulouso

I had a full and final accepted by MDB, I offered 18%- they offered 25 so I amgoing to accept.

My terms were...

This offer
is made on the clear understanding that, if accepted, neither you nor any associate company will take any
other action to enforce or pursue this debt in any way whatsoever and that we will be released from any
liability.
We also request that, if accepted, you will make an entry on a credit reference agency file relating to the above

account as having been paid and the account closed.

Thier reply was, Upon reciept of the settlement figure your account will be closed, all collections activity ceased and your credit file updated accordingly...

Just checking, all seems ok to me- am I missing anything - I just know how dodgey these people can be and I dont want to sell myself down the river?

Thank you :A

Angyles

Well Done :j

My advice is to make sure you keep a copy of the letter you sent them and their reply just in case!

Fabulouso

Thank you, where it says updated according, this does mean they'll mark it as settled doesnt it? I just dont want to get caught out on technicality? lol

Tixy

Might mean they'll mark it as partially satisfied.

Fabulouso

What does partially satisfied mean? Is it rubbish on my credit report or??? I know what the actual words mean lol, I just am not sure what it means in terms of- trying to get my finances sorted you know?

Ps, thank you

nottoolate

accoringly doesnt sound clear enough

also doesnt say that they wont sell the debt on

Tixy

It means other creditors/ potential lenders will see you didn't pay the full amount but came to an arrangement. But assuming this debt has a default marker then the partially satisfied marker will only remain on your file for the remainder of the 6years that the account will appear (6years from the original default). Its probably not likely to make your file look any worse than the default marker is currently doing (if that makes sense).