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MBNA full and final offered

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cut a long story short after 3 months of non-payment on a 2000 balance MBNA have offered in writing a settlement on our credit card. to be honest they seem to have acted fairly and professionally and i dont have any complaints with them in this regard (other than the fact the card has ppi which has been paid for over 5 years which has never been mentioned by them)


my query is that they have said they will register a "partial default" with the CRA - how can it be a partial default?? here's the letter;


Following your conversation with us on xxxxxxx, I am writing to confirm we are able to accept a payment of £xxx to partially settle your account. As discussed this will be a final payment in order to close your account and will report on your credit file as a partial default for six years. I can confirm that MBNA or any other company will make no further effort to collect the remaining balance.

if they are going to register a default then why should i pay anything cos i am not actually defaulting, rather reaching an agreed settlement.

has anyone experienced this or able to offer any advice?

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i take it you offered the full and fianl over the phone.


edit this to suit and send recorded,


Account Number:

Dear Eejits

Thank you for your letter dated xx/xx/xx.

I am willing to offer the sum of £xx as an ex-gratia payment in full and final settlement of the account.

This offer is made on the clear understanding that neither you nor any associate company will take any further action to attempt to enforce or pursue this debt in any way whatsoever and that any and all liability on our behalf will be fully discharged on receipt of the above stated monies.

This offer is made on the condition that of all adverse entries or defaults regarding this account are removed from our credit files with the credit reference agencies and marked as settled in full.

Payment can be made within 2 weeks of receiving your written confirmation of your agreement of this offer and the subsequent terms of the offer. Please also identify your prefered method of payment and the details of making said payment.

Please note this offer will expire on (date - give them a couple of weeks) if no letter of unconditional acceptance is forthcoming and may not be repeated. This offer is not open to negotiation.

We look forward to receiving your reply.



ida x

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I was also in the same situation with MBNA. I got so fed up and wanted rid of all the hassle that I accepted their terms. Not too bothered about the partial default as my credit rating is ruined anyway. So far they have stuck to their word and not chased the remaining balance.

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