Is this letter ok to pay against

debtfree1day

Hello, I have received this letter out of the blue today. I have a debt with lloyds credit card, and although I have been paying them on arrangement every month (and paid them via online banking this months on 10th August!) I received this from MHA who appear to now own the debt??

Your acc no xxxxx
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. 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 xxxx and we will not ask you for any more payments.

Once you have made your payment and the account is closed, your credit record will be updated to show the debt as partially settled for 6 years. It will take on average 28 days for the account to be closed, even if you make the payment before 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 avauilable again and payment will still be due to the account. If you are currently making a regular payment via SO/DD towards your account and wish to take up this settlement, we recommend that you cancel your payment with immediate effect. If you do make any additional payments before your settlement is due, then these will be used against your settlement figure.

We're happy to help you with any questions you may have. For you information we sometimes record calls to help blah blah blah

Yours sincerely,

xxxxx

elaine12022

One option would be to send them the 'prove it' letter, as you have no idea who MHA are, the template is in the 'stickies' section of the forum. They could be acting as 'agents' of a creditor or they could have bought the debt, either way they still have to provide evidence that you owe them anything.

General advice is not to contact them over the phone, keep everything in writing,and specify this when you write.

debtfree1day

Thanks very much but assuming they do own the debt, and this can be proven, is the wording in the letter suffieicnt for me to pay against

I am happy with credit file being marked as partial for 6 years, as long as the debt is satisifed - if that makes sense?

churchrat

I am no expert but I dont think that is a satisfactory letter. Nowhere in it does it say that they will not pass the remaining debt on to someone else, only that they will not pursue it. I think you need to ask them for confirmation that this is "full and final" settlement of the debt.

I think there is info on full and final on here somewhere. I am sure that someone else will know more than me, but please investigate some more before you pay this.

debtfree1day

Thanks church

I am not worried about it being full - only final. If anyone does have an appropriate response or words I can use it would be much appreciated

debtfree1day

polite bump