F&F and partial settlement effect on credit file

suewiththeblues

just an observation:

i done a full and final settlement with barclays which was accepted. i insisted they mark my file as full and final, with a balance of zero and that they would not pursue me for the remainder,

having read my credit file (equifax) it has been updated to reflect a balance of 0, and an S for settled/satisfied, albeit with a D for default but i am trying to challenge that.

other accounts that i have settled properly also say S for settled and 0 for balance, which is obviously correct.

originally i thought that barclays would actually write on my credit file full and final settlement or something but they dont.... so

have a similar situation with Egg who i have been insisting they accept the offer in full and final settlement,with a balance of 0 and i wont be pursued for the remainder. their most recent letter to me states they will accept my offer of partial/short settlemnt, my credit file will be updated to show the account has been partially settled, the balance brought to nil and i wont be pursued for further monies.

i interpret this as my credit file will actually show S for settled?, 0 for balance. or will it show PS or something meaning partially settled? meaning it could be sold on in future? but am assuming it couldnt as the balance would be zero?

in that case is it ok to go ahead with the Egg offer?

Tixy

Hi

Wasn't sure of the answer to this but from reading the below

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/156069-partial-settlement-instead-final.html

it appears a footnote will be added to show partially settled.

As long as you have a letter from them to say they won't chase you for any further monies then keep that safe and you should be okay in that respect.

LeeSouthEast

They should technically update your file as 'partial settlement', not 'settled' if you haven't paid the full balance. They may do otherwise in agreement with you as a gesture of goodwill.

I'm not sure how far you will get challenging the default status (but don't let me put you off trying!). If you've failed to keep to the terms of the agreement, you technically are in default.