Partial Settlement Wording

ollie2008uk

Hi,

Can someone please have a look over the letter in this post? I received it in respect of one of my debts. I was just a bit confused by the 3rd paragraph.

If someone could help me I'd be very grateful.

Thanks

nottoolate

if you pay less than you owe then they are allowed to default you. and they are allowed to mark it as partially settled

se section 51 http://www.ico.gov.uk/~/media/documents/library/data_protection/detailed_specialist_guides/default_tgn_version_v3%20%20doc.ashx

so letter seems ok

awayinchina

you might want to check to see firstly if there is already a default on this account. if there is they cannot issue a new default.
I would write back asking for conformation in regards the original default and also that they re-word and add into the document the following:
oustanding balance will read zero and you will not be persued by any third party as this payment will be for full & final settlement and they mark your account as partially setlled.
Some financial institutions have been know to sell on the remaining balance to dca's.

this letter only says they will not persue you and no mention of another party.