Earlier on this week I received a letter from Mackenzie Hall about my Payday UK Account. As it stands today I currently owe them £548.83 from the original balance of £637.50.
The letter is from their Review Department and is asking me to contact them about my current repayment. From what I can gather, this is done on a quarterly basis. Most of my other creditors do this every six months.
A Request from Mackenzie Hall
Basically what they are asking for is an update on my financial status. In other words, they want to see if I can increase the payment I currently make to them in order to pay off the debt faster.
Mackenzie Hall also go on to explain that their client, in this case Payday UK, would be willing to accept a figure less than the current balance outstanding to settle the debt. This would be known as a partial settlement.
It then goes on to say that I must contact Mackenzie Hall in order to discuss the account and my financial status within 7 days from the date of the letter.
What have I done?
I have done the usual thing I would do in this situation. I have sent an e-mail to explain that my financial situation has not changed within the last three months.
I have also asked for the arrangement I have currently to be maintained. I also went on to explain that I am currently managing a large amount of debt, and that it is very unlikely that my financial situation will improve in the near future.
To me, it seems a waste of paper and postage requesting an update because in my current situation, it is very unlikely that anything has changed. They do have my e-mail address so they could have contacted me there.
No doubt that I shall be receiving a fair bit of fan mail over the next month or so. I imagine a number of my creditors will also be looking to increase their slice of the money I have available to settle my debts. I will just use my usual templates and the matter will be resolved, at least until the next time.