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Settlement figures!!

2

Comments

  • bigt777 wrote: »
    Settled on 20%!! on monday (£2000), really pleased!! Just waiting on written confirmation now. Parents willing to give me an iterest free loan so hoping to settle with all my creditors then will just have one monthly payment.


    Thanks great news well done.
    cross stitch cafe #90 UFO's 6 to finish in 2013, and loads of new kits to boot
    Refunded bank overdraft charges £915 :j
    SPC 2007-2008 #078 aim £500-£341.67
    SPC 2011-2012 #078 aim £500-£426.42
    SPC 2012-2013 #078aim £500 - TBC
  • DarkConvict
    DarkConvict Posts: 6,347 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Great news indeed.
    Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.

    There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies
  • xgingerx
    xgingerx Posts: 591 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Wow, whata result, hope one day i can get myself in that position !!!! Well done
    Dmp Mutual Support thread member No 82
  • Rainy_2
    Rainy_2 Posts: 432 Forumite
    Fantastic news! Well done on the negotiating. I have one F&F under my belt (a LTSB Loan - 25%) and am about to embark on a couple more.

    Good luck!
    Pround to be dealing with my debts! DFW Nerd # 1201
    Coloured Squares 506/900 :eek:

    The early bird catches the worm, but the second mouse gets the cheese ;)
  • mummum2
    mummum2 Posts: 617 Forumite
    Part of the Furniture Combo Breaker
    Great news....well done you! :beer::T
    Long Hauler No: 51
    DMP Mutal Support Thread No: 207
    Proud to be dealing with my debts
    DFD - June '13, aiming for December '12
  • LexieLou
    LexieLou Posts: 715 Forumite
    Part of the Furniture 500 Posts Debt-free and Proud! Name Dropper
    Well done. Hope things get better for you from here on.
    £38,000 and change to £0
  • bigt777
    bigt777 Posts: 33 Forumite
    edited 1 March 2010 at 4:13PM
    Have recieved settlement letter "at last"!! Says account will be registered as "Partial Settlement" with the credit reference agencies for 6yrs! Was hoping this would be a full and final settlement and marked "Satisfied in Full", is this normal? How wil it affect swapping my mortgage in next couple of yrs??
    ;)Short pockets long arms!!!;)
  • bigt777
    bigt777 Posts: 33 Forumite
    Have just spoken to them and they said they would require 95% to mark file as "Satisfied in full" is this the norm? Has anyone else been through this process?
    ;)Short pockets long arms!!!;)
  • DarkConvict
    DarkConvict Posts: 6,347 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Partial is not as good as satisfied, however so long as they won't chase for the remainder it is still good. See what other people say.
    Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.

    There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies
  • fatbelly
    fatbelly Posts: 23,309 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    bigt777 wrote: »
    Have recieved settlement letter "at last"!! Says account will be registered as "Partial Settlement" with the credit reference agencies for 6yrs! Was hoping this would be a full and final settlement and marked "Satisfied in Full", is this normal? How wil it affect swapping my mortgage in next couple of yrs??
    bigt777 wrote: »
    Have just spoken to them and they said they would require 95% to mark file as "Satisfied in full" is this the norm? Has anyone else been through this process?

    Information Commissioners Office says it is OK for them to mark your file in this way.

    As long as their letter uses the phrase 'full and final settlement', you have your deal (at 20%?)
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