Going round in circles

mariep_3

Hi,

I have recently paid a debt off through Blair oliver and Scott but now im confused as I think I might not of done the right thing. I took there settlement of £510 instead of £750, now I have looked on this site it seems that i should of waited and paid the debt off in full as it is going to show on my credit rating as settled and this is just as bad as having the debt outstanding. Is this right? If so should I speak to them and see if I can settle the debt in full?

I have two other debts with the halifax one of which is a loan, i have paid off a substantial amount over the past few years and it now stands at £5000 the company that is collecting this debt on behalf of the Halifax sent me a letter yesterday offering a settlement but now im not sure what is the best way to go. They said I shouldnt try to settle it at an offer but increase my monthly payment.
I dont have enough to pay this in full or at settlement at the moment but I dont know if I should continue paying it off every month untill it is paid in full, this will take about 4yrs or pay it off every month and put some away so that when it gets to a settlement amount I can afford I can just pay it off then.

My other debt is a halifax student overdraft, I have tried to put in a claim to reclaim bank charges for this account but they have told me they only hold records so far back and whilst the account still has an outstanding balance they wont release my statements.

I feel like im going round in circles at the moment and I really want to know what is the best way to pay the debt and improve my credit rating score.

My partner has never had any issues with debt and would like to buy a house in the future, at the moment I cant see my credit rating being suitable for the next 5 yrs!!

Everyone seems really friendly and helpfull on here so im hoping for some honest and straight forward advice on what to do.

Tixy

Hi marie

Have they marked your on your credit file that the debt is partially settled?
This is not as bad as having the debt showing as outstanding.
Ideally its best to try to get them to agree to mark your file as settled not partially settled but many won't agree to that on a F&F settlement.

To put in your bank charges reclaim you don't need statements just a list of all charges on your account. You can apply for this as part of a subject access request (SAR) (cost £10) and they have to provide you with the last 6years information. You should find more info on this on the bank charges reclaim board.