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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Partial Settlement V Final - Credit Report
stressedgirl_2
Posts: 75 Forumite
Hello all
I am in a position to offer make an offer to one of my creditors (prob about 70% as original creditor) so I plan to send off a National Debtline template letter outlining this. Obviously I will try for my credit report to be marked as satisfied, however I know from reading posts on here that some creditors refuse to do this and will only mark as partially satisfied.
I have been on an arrangement to pay now for 18 months and this shows on my credit reports. My question is: how much worse will my report look if I get a partially settled rather than settled. I won't need credit now as such but in three years I will need to re-mortgage - I know my credit rating is trashed now but would a fully satisfied debt make a lot of difference? I should clear it in a year if so but would it be better to get a partial now?????
Any advice really appreciated x
I am in a position to offer make an offer to one of my creditors (prob about 70% as original creditor) so I plan to send off a National Debtline template letter outlining this. Obviously I will try for my credit report to be marked as satisfied, however I know from reading posts on here that some creditors refuse to do this and will only mark as partially satisfied.
I have been on an arrangement to pay now for 18 months and this shows on my credit reports. My question is: how much worse will my report look if I get a partially settled rather than settled. I won't need credit now as such but in three years I will need to re-mortgage - I know my credit rating is trashed now but would a fully satisfied debt make a lot of difference? I should clear it in a year if so but would it be better to get a partial now?????
Any advice really appreciated x
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards