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Full and final settlement
guptam
Posts: 5 Forumite
Hi,
I had a debt of 14000 with hsbc managed loan.
An amount of 10500 was accepted as full and final settlement which i paid and accepted . My account with hsbc was closed for both managed and current account.
But i was checking my credit rating it still shows a defualt against my name for the managed loan with outstanding as 3500.
is it correct? I feel this should mention as 'settled'
Can anyone adivce and also if this is wrong what should i do t get it changed to the correct working..
Rgds
gupta
I had a debt of 14000 with hsbc managed loan.
An amount of 10500 was accepted as full and final settlement which i paid and accepted . My account with hsbc was closed for both managed and current account.
But i was checking my credit rating it still shows a defualt against my name for the managed loan with outstanding as 3500.
is it correct? I feel this should mention as 'settled'
Can anyone adivce and also if this is wrong what should i do t get it changed to the correct working..
Rgds
gupta
0
Comments
-
When did you clear this debt?
Did you agree everything in writing with HSBC?
Did they agree that they would mark your file as "settled" in full or just partial settlement?
Can you let us have some more info so that peeps can advise accordingly?Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free
Mortgage free since 20140 -
Aye, it all depends on the terms of your full and final settlement. You'll need to dig out the paperwork and see what the agreed terms were of you making that payment.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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