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DMP Settlement offer help please.
Comments
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One thing that did concern me with EGG was they stated ,if they accepted the offer, they would mark the account as 'partially satisfied' but close the account and no one further would come after me for the remaining debt.
I am not happy with this, but they refuse to budge!!£11K in 2011 :j cold hard cash !!!
[STRIKE]£324[/STRIKE] / £826 with more to come £11000 7.5%
"Sealed Pot challenge" member No. 1263 ( it's a surprise)
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One thing that did concern me with EGG was they stated ,if they accepted the offer, they would mark the account as 'partially satisfied' but close the account and no one further would come after me for the remaining debt.
I am not happy with this, but they refuse to budge!!
Why are you not happy with this?
According to the ICO, 'partially satisfied' is the correct mark on your credit file if you have made a settlement agreement at below the balance figure.0 -
I thought the 'partially' bit of the statement left the door open for them to come for the rest in the future??£11K in 2011 :j cold hard cash !!!
[STRIKE]£324[/STRIKE] / £826 with more to come £11000 7.5%
"Sealed Pot challenge" member No. 1263 ( it's a surprise)0 -
There are two separate issues: what is in their letter to you (which you must keep for six years) and what mark is made on your credit file.
On their letter, ideally you want the phrase 'full and final settlement' but 'close the account and no one further would come after me for the remaining debt' pretty much amounts to the same thing if you ever needed to show it to a judge.
On the credit file some creditors will mark it 'balance satisfied' but the Information Commisioners Office has said that 'partially satisfied' is the correct mark.
Some creditors will offer one deal for 'balance satisfied' and a better one for 'partially satisfied' !0
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