catalogue settlement

misshopson

hello guys me again

hope u guys are enjoying your weekend!

i was wondering like any finance comany if catalogues also offer settlement figures too. basically i have 2 catalogues in my name and have a balance on them. I have been paying minimum payments but wondered if there was a way where I could chat to them, ask them for a settlement figure and withdraw my account completely. is there such thing and how do i start? should i call or write? thanks guys in advance x;)

DVardysShadow

If you want to go down that road, I expect you will have to default first.

MrsTinks

As Dvardys says - yes... probably... but so long as you are not defaulting and making payments and they can add lots of lovely high APR interest to your account... they will have no inclanation to do any deals. Is it worth messing up your credit rating for 6 years over as a default will stay for that long...

misshopson

sorry you may think am abit stupid for asking this but what does default mean on credit rating terms and how bad would it look? would it be wiser to pay off the actual balance without asking for settlement i dont want to risk any major issues on my credit rating

carol01

misshopson wrote: »

sorry you may think am abit stupid for asking this but what does default mean on credit rating terms and how bad would it look? would it be wiser to pay off the actual balance without asking for settlement i dont want to risk any major issues on my credit rating

hiya
a default on your credit ratings is bad it saying basically you didn't keep to the payment terms and conditions it stays with you for 6 years and if you are looking for credit most places would decline your application as they will see you as a bad payer