Catalogue terminating agreement letter

d974

Hi all I received a letter today from my creditor../ catalogue... I have been paying each month on a reduced payment plan today I got a letter saying that they are terminating the agreement and that my balance will be cleared and will show as partially settled on my credit file and I've not to make any more payments..has anyone else experienced this outcome..

Kakiste

Yes I have. I complained to Very a while back (about a year after I started my DMP) about irresponsible lending (I applied for a limit of £300 which I got whilst working full time and had almost paid off, then when I was really struggling for money and on SMP whilst in maternity leave increased my account to a £2200 limit without checking if I could afford it- which I couldn't.)
My complaint was upheld and they cleared all the arrears I owed them and also sent me a refund of all the interest and late payment fees I had paid (£1500!) 
It totally surprised me. Hope it gives you a positive feeling and a little more breathing room in your budget as it did me. 

sourcrates

Well done, sometimes creditors take commercial decisions on bad debt, they most likely didn’t observe due diligence and have written off your debt on that basis.