MKDP I&E Letter £10 credit

abby1234519

Usually I ignore letters wanting i&e.

I have one today from MKDP saying if I send it back they will credit my account with £10 (ie credit the debt)

Should I do it.

They've also mentioned settling the debt but I don't want to do this as I want all my debts paid off (however this does drop off in 3 years and I am only paying £1 a month)

Tixy

Interesting tactic from them not one I've read about before.

£10 isn't a lot but I guess it all helps.

Is there anything on your I&E that you wouldn't want them to know?

They are presumably fishing to see if you own a property/have assets or to see if a judge would be likely to order a monthly payment of more than £1 if they took you to court.

abby1234519

Honestly....yes.

When I defaulted I was in dire straits, when I committed myself to paying off debts I was a new mum (single parent and also at university) so £1 was all I could afford, child was a priority etc.

Since then I now have a full time job on 19k (recently) and live with my partner who is on 15k. Between us we have 19k debt.

So I have been snowballing, paying off debts with high interest ie Evanquis. At the moment I am paying £600 a month towards our debts, that is literally all we have left over after bills and food, we put money aside to pay for yearly phone line rental saver, car maintenance and tax, car insurance and emergencies (but not a large amount, bare min)

So on paper I will look like I am reasonably solvent however as this is a defaulted debt I want to make sure I can clear everything we haven't defaulted on before then moving onto the defaulted debts. I know you are meant to treat creditors fairly but I have 3 years till my defaults drop off so do not want to add any more defaults!

Tixy

That may be why they are pushing for an I&E. They can perhaps tell from your credit file that you are paying more to other creditors, keeping on top of other accounts etc.

Probably not worth the £10 reduction to your debt then.

wegle

Definitely not worth it. No debt company is going to give away £10 without factoring in how much they will get in return. If you do want to reply just send a letter saying your situation is still the same and you will continue with your £1 payments until you are able to pay more, but I wouldn't even bother doing that.