A bit of good news......

woppo26

Hi money savers.....

I would like to share some good(ish) news.

A couple of years ago i took out a payday loan, only a small one for £200. I made a couple of payments then stopped paying. Anyway, id forgotten all about this loan till one day 4 weeks ago i got a letter through the mail from a debt collections agency. The letter stated that i owed £689.89p BUT they gave me a settlement figure of £254.00p AND they said i can pay in instalments. So i got on the phone and accepted there offer. so for 5 weeks i chose to pay £50.80p
this i dont mind paying as im in a better financial position now than i was when i took out the loan.

So iv just saved myself a MASSIVE £435.89p How happy am I.. AND my debt will be taken off my credit file so double happy.....

BILLIE

Well done Woppo

[Deleted User]

Have they stated, in writing, that the debt will not be sold on to a DCA?

McKneff

Don't hold your breath about the default coming off your credit file. Its very unlikely if you haven't disputed the debt and its not the company's faut.


Do you have that in writing too. If not, do so as soon as possible.

asparagus1968

less interest so that's good.

I thought the default would still stay on your file, but marked that it's now settled.

and, as above, get it in writing it is fully settled etc.

woppo26

Thanks for the info guys....
Next week is my last payment, for the past 4 weeks iv just paid over the phone to an automated payment service, so i will phone them Monday morning and get it in writing. Thanks for reminding me about this guys.....