We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Loan account closure - query
MWAUGH1983
Posts: 203 Forumite
in Loans
Hi,
When you pay off an account like say a loan what benefit - if any; does it give your credit file as I would assume it does something favourable.
Also when the loan has been paid off by way of a settlement; what does it mean when the company says that the credit file will be updated with a flag as partial settlement - what effect does this 'flag' have on your credit file.
Any advice would be appreciated!!
Cheers
Martin
When you pay off an account like say a loan what benefit - if any; does it give your credit file as I would assume it does something favourable.
Also when the loan has been paid off by way of a settlement; what does it mean when the company says that the credit file will be updated with a flag as partial settlement - what effect does this 'flag' have on your credit file.
Any advice would be appreciated!!
Cheers
Martin
0
Comments
-
a partial settlement says that you didn't pay your debt in full
potential lenders will respond accordingly0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards