What is the difference between settled and satisfied on my credit report?

discojam

I have three creditors listed on my credit report as "satisfied"
They are dated
06/02/2005
16/03/2008
15/02/2009

They are still listed in red as defaulted and there is a default balance and the current balance says satisfied.

I have three others that are listed as "settled" and these are listed in green as satisfactory.

What is the difference between them? Could it be because the first ones were partial settlements? I think they may have been but will need to go through my paperwork to know for sure as can't remember off the top of my head!
Is there anything I can do to get the changed from defaulted or is this the way it has to be?

I also have some other questions but need to write them out first so thought I would start with this question, thank you for any help!

DarkConvict

I do not believe there is a difference between settled and satisfactory.

I do believe in general, settled means the balance has been paid and the account closed.

Satisfactory is when the creditor is happy with the current level of payment.

discojam

Hi DarkConvict thanks for your reply!

I'm still a bit confused because the 3 that say default in red are ones that say the current balance is "satisfied" but the 3 that say satisfactory in green are ones that say the current balance is "settled"

So the three that are still showing as defaults in red have been paid and I dont owe them any money but are still showing as defaults is there a way that I can get them changed to green so that they all say satisfactory?

debtstressed

discojam wrote: »

So the three that are still showing as defaults in red have been paid and I dont owe them any money but are still showing as defaults is there a way that I can get them changed to green so that they all say satisfactory?

Hi

Unless I am mistaken, defaults stay on your file for 6 years from the date you default unless you manage to legally challenge them in which case they are removed. Legally challenging them is usually only possible if there was an error or failure to follow procedure by the creditor.

discojam

debtstressed wrote: »

Hi

Unless I am mistaken, defaults stay on your file for 6 years from the date you default unless you manage to legally challenge them in which case they are removed. Legally challenging them is usually only possible if there was an error or failure to follow procedure by the creditor.

Okay so even though I paid them off in full/partial settlements agreed as full and finals (not sure which yet!) and dont owe anymore money because they defaulted in the first place they still have to stay as defaults?

discojam

Ps thanks for your reply!