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  • FIRST POST
    • Greatgrace78
    • By Greatgrace78 4th Oct 17, 9:13 AM
    • 4Posts
    • 0Thanks
    Greatgrace78
    How to change partial settlement to fully swttled6
    • #1
    • 4th Oct 17, 9:13 AM
    How to change partial settlement to fully swttled6 4th Oct 17 at 9:13 AM
    I had a British default when I move houses in May 2012. They sent me a final bill which I did not receive.
    My details were passed to a debt collection agency (LCS). The amount was for £154.70.
    I was offered to pay £120 by the collection agency. My understanding was that the account would be closed and that it wouldn't affect my credit rating.
    I'm was naive as this was all a phone conversation and nothing in writing.
    I made the payment of £120 to the agency.
    Forward to 2017, my credit file has a partial settlement against the debt.

    How can I get this changed to fully settled?

    Can i offer the debt collectors agency (LCS) the remaining amount of £34.70 (which was the discount) so that my credit file can be updated accordingly. Is this even possible?

    Thanks for your helpful advice as always.
Page 1
    • zx81
    • By zx81 4th Oct 17, 9:22 AM
    • 13,643 Posts
    • 14,094 Thanks
    zx81
    • #2
    • 4th Oct 17, 9:22 AM
    • #2
    • 4th Oct 17, 9:22 AM
    I really wouldn't bother. The difference is negligible.
    • Greatgrace78
    • By Greatgrace78 4th Oct 17, 9:29 AM
    • 4 Posts
    • 0 Thanks
    Greatgrace78
    • #3
    • 4th Oct 17, 9:29 AM
    • #3
    • 4th Oct 17, 9:29 AM
    It appears to be affecting my credit rating and a chance to get a good rate on loans, etc
    I also get asked a lot of questions about why it is not fully settled.
    I'm willing to make the payment as it is a low amount.
    • zx81
    • By zx81 4th Oct 17, 9:31 AM
    • 13,643 Posts
    • 14,094 Thanks
    zx81
    • #4
    • 4th Oct 17, 9:31 AM
    • #4
    • 4th Oct 17, 9:31 AM
    Contact them and ask. However, it is the initial default that is causing you problems.
    • binaryuniverse
    • By binaryuniverse 4th Oct 17, 10:17 AM
    • 411 Posts
    • 206 Thanks
    binaryuniverse
    • #5
    • 4th Oct 17, 10:17 AM
    • #5
    • 4th Oct 17, 10:17 AM
    A default is a default. No matter whether it has been paid in full, or not, it will have a detrimental effect on your ability to get credit until it disappears from your file. So, as said by zx81, it is not worth your time chasing it trying to get it changed.

    When was the default registered? It will disappear 6 years from this date.
    • Greatgrace78
    • By Greatgrace78 4th Oct 17, 12:12 PM
    • 4 Posts
    • 0 Thanks
    Greatgrace78
    • #6
    • 4th Oct 17, 12:12 PM
    • #6
    • 4th Oct 17, 12:12 PM
    The default was registered in Dec 2012. Who should I contact, British Gas or the debt collection agency.

    I have been told it's better to show settled than partial settlement.

    Can the partial settlement be changed to full settlement
    • cjmillsnun
    • By cjmillsnun 4th Oct 17, 12:50 PM
    • 206 Posts
    • 125 Thanks
    cjmillsnun
    • #7
    • 4th Oct 17, 12:50 PM
    • #7
    • 4th Oct 17, 12:50 PM
    The difference is so marginal it’s not worth the hassle. You have 14 months to go. Your file will have been closed With both the DCA and British Gas so there is little you can do. Just answer the question as that they made you an offer of a lower amount to settle and you took it. It’s not a lie.

    Your ability to get a decent rate is from the default in the first place and from any credit you may have now. If you don’t have any credit cards it may be worth getting a credit builder card, using no more than half the credit limit and paying it off in FULL every month. You then show responsible use of credit on your report and this is likely to get you better rates on things after 6 months or so.
    • Greatgrace78
    • By Greatgrace78 4th Oct 17, 12:51 PM
    • 4 Posts
    • 0 Thanks
    Greatgrace78
    • #8
    • 4th Oct 17, 12:51 PM
    • #8
    • 4th Oct 17, 12:51 PM
    Thanks for all the responses.
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