Credit report query....

bluesy2shoes_2

Hi All,

I'm not sure if this is the correct place to post my question, but I'll give it a try....

I recently obtained a copy of my free credit report with Equifax and on it it shows that there is a settled credit agreement with Welcome Finance, whereby I had agreed with them that I would pay an amount for full and final settlement and this would show on my credit file.
But - it shows 'Partial settlement - Payment recieved as full and final settlement althought payment would not clear the balance.

Is that fair that they can state this seeing as I was in dispute with them ovet the amount in the first place and they made me an offer to settle the account?

Another question I have is that it also shows on my report, that there is a default placed on there from a company called 'Arrow Global Ltd' - now I have no idea who they are and it shows that I have never paid them - which is of course correct as I have no idea who and why they are there. Now if I contact the company to find this information out, do they have to prove that I did indeed take out an agreement with them? Such as provide me with proof of a signed contract of some sort that you take out whenever you take on a credit agreement?

Any help would be greatly appreciated!!
Thanks all

Hommedesbois

FWIW When I negotiated a !!!!!! with MBNA they told me that if it was less than 95% of o/s balance it would show as 'partial settlement' on my credit report. I don't know if this is a general rule or specific to credit reporting.

nomoneytoday

IMHO there has to be a difference on a credit history chart between a full settled payment, and a partial offer, otherwise it defeats the point of having it