Debt randomly written off?

WhoIsJusticeBeaver

Hi all, last week I received this letter from Very catalogue. My account defaulted in December I believe and sold on. I have not paid anything to DC as no CCA provided. They have written to say they have written off the debt and marked my credit file partially settled. 

This seems strange as to why they would do and I'm wondering if there is some underlying motive? 

The actual credit that was spent was £1200 after purchasing two household appliances after unexpected breakdown with 12 month BNPL. They then added 50% compound interest and then interest every month. It's shocking it's allowed really 

I started a self managed DMP last year and this is included. 

Copy of letter attached. 

Any ideas as to why they may have done this would be appreciated.  

TIA

Brie

Possibly they have decided that the interest they had charged was extortionate and that there was no way they could get the money if challenged?  Do you think you had paid them at least the purchase price?  That might explain why they consider it partially settled. 

ManyWays

I take a practical view that things dont always go well with some accounts in a DMP so when you get a surprisingly good result, I would not waste any time wondering why it happened but be happy with that win. 

WhoIsJusticeBeaver

No, I had not @brie. I decided that when I was going to start the DMP to stop paying everything apart from my bank overdraft and the 12 months BNPL was only just up on them.  I had held the account for 15 years and never missed any payments or accumulated a high balance until these purchases. I just think it's odd that in the letter they say we have decided to terminate the account due to activity on it, I'm not sure what they mean by that. I wonder if they think I would go down the route of FOS with them, however as I always paid on time before I don't think I ever paid much interest. I am very happy with the outcome, just puzzled. 

sourcrates

Its what they term a "commercial decision" an approach they deem to be in everyone's best interests.

It could be for any number of reasons you will never be privy too, I`d go with Manyways view, don`t ponder on the why, just accept the win.