Default notice

dmanathome

I have just signed up to Experian so that I can check my own credit reports and on there I have a default notice from the Abbey National, now I know this is there and that it stays there for 6 years but it still says that I owe £855 when I settled this bill 4 months ago. I have digged out the letter from the debt collection agency and it says "partial settlement" I know I payed a reduced rate which they had offered me but I was under the understanding this would clear the debt. How can I now get rid of this from my credit report? Do I need to pay more money? or is this something I am now stuck with for the next 6 years?
Plus I am hoping to move flat in a few months for something cheaper, is this going to stop me from getting anywhere else when they do a credit check or should I just stay put and try to get this place cheaper when the lease is up for renewal?

sieve

You can write to the creditor to ask them to mark the default as settled - but even then it may well say partial settlement. Either way, settled or not, the default is still going to show on your credit file for six years from the date you defaulted.

GeorgeUK

Does the letter from the DCA say that they are accepting the money as a partial settlement or that the credit file will be marked as a partial settlement.

When writing to a DCA, it is advised to request a full and final settlement as a partial settlement would mean you are still liable for part of the debt. Even with a F&F, the credit file will be parked as partially satisfied but you may need to recheck the wording to see what was agreed.

I know a satisfied default, even partially, is better for your credit score, but i've no idea what impact it will have on getting another flat - sorry.