Debt lingo and comprehension

JONNYT

I sent this email to a company who had acquired my debt from MBNA:
"I write with reference to your communication dated 28 Oct 2016, regarding an outstanding balance on the above mentioned account and wish to respond with an offer to resolve that will suitably please both parties.
In short, before your deadline of this coming Friday 25 Nov, 2016, I should like to accept your offer. But only on the condition that my ‘Single Payment Settlement Option' of £1631.48 is accepted truly as ‘Full and final settlement’ by all parties involved, from MBNA Europe Bank Ltd. forwards, and that the following actions will be carried out on receipt of payment;
The Default Notice will be removed
The Status of the account will change from “Defaulted” to “Settled”
The Current Balance will appear as £0.00
The Default / Delinquent Balance will be set to £0.00
There will be no date in the “Defaulted Date” field (as it will be removed)
There will be no date in the “Date Last Delinquent” field on the report
This will apply to all 3 Credit Reference Agencies, namely Experian, Equifax & Call Credit
If you're happy with my proposal, please respond confirming each of the above points by return email, followed by a 'hard copy' version on official letterheaded paper, confirming acceptance, and I will settle the agreed amount by BACS immediately.
I look forward to your response.
Yours faithfully"....following advice from...this site...I think!
And got this reply:
"Thank you for your recent response regarding the above account.

Unfortunately we are unable to remove the default from your credit file as we have a duty to ensure all financial information reported on your credit file is correct.

Where applicable, your credit file would be updated accordingly to reflect that a Settlement in Full was paid ,and this will show on your Credit File within 12 weeks.

If you have any further questions please do not hesitate to respond by email. Alternatively please telephone "
Is this correct? Should I just accept and pay? (It does seem a pretty good offer......doesn't it?).
Many thanks for any help
JONNYT

sourcrates

They are correct on all points yes !!

You are confusing default notice, with default on your credit file, two seperate things, both irreversible once served.

Get any settlement in writing before parting with any money.

JONNYT

Thanks and yes; the offer came FROM THEM (PRA) originally, in writing. Will accept and pay. BACS is ok, isn't it? Or over the phone? :beer: