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Amazing Debt Offer

S_Joynson
S_Joynson Posts: 13 Forumite
I graduated as a mature student last summer with my degree.

As one would expect, I had run up some debts including a reasonably sized credit card bill.

The debt had been passed to a collection agency who wrote me an amazing letter the other day.

Pay one quarter of the bill in one hit, and we'll forget the rest! The letter claimed there would be no catch at all and they would send me a notice of settlement as well as informing all the others.

Well, I kept a copy of the letter and paid the amount suggested. They have informed me that is the end of the matter and I will be recieving a notice of settlement in the post soon.

Like anyone else, I am usually deeply suspicious of offers that seem too good to be true, but in this case, I might have struck lucky and saved meself over 800 quid!
A shadowy flight into the dangerous world of a man who does not exist.

A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.

Comments

  • I am amazed too.
    ...............................I have put my clock back....... Kcolc ym
  • chowster
    chowster Posts: 86 Forumite
    Sorry for my sceptisism but as the saying goes...

    "if it sounds too good to be true...............it usually is"

    Hope for you its all good though ;D
  • Rafter
    Rafter Posts: 3,850 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Sounds like your credit card company have 'sold' your debt to a third party.

    They may have paid something like 10p for every pound of your debt, so can make a quick buck by getting you to settle for 25% (25p for every £)

    despite them saying 'no catch' your credit rating will be shot to pieces and you may have trouble getting a loan or mortgage for a number of years.
    Smile :), it makes people wonder what you have been up to.
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