Final Settlements

tickledpink1984

Hi more advice needed. I have an outstanding debt with Blair Oliver Scott which shows on my credit report as 3 late payments. I am keen to clear my report as looking to apply for a mortgage.
I am on a DMP with CCCS and just wanted to check what the correct process would be to settling this debt.
This is the one I wish to have satisfied as the other couple of debts I have do not appear on my credit report.
When I call tomorrow would I then get this agreement in writing before paying the money?
also should I make the payment through them or direct with Blair Oliver Scott?
Thanks

Pott5y

Look here for advice on full and finals. Template letters in section 5.

http://www.nationaldebtline.co.uk/england_wales/debt_advice.php

Put all offers in writing and and say that an money is coming from family and can only be used for full and final settlements.

Do not pay anything until all points are confirmed in writing. If you are unsure of any creditors wording in their replys post on here or call NDL for advice. They are very good.

I would deal with Blair Oliver Scott directly and just let CCCS know when it is settled.

Good luck

tickledpink1984

Thanks I have spoken with BOS and they have advised I can make full or partial payment both which would close the account. If I make partial payment this is what will show on my credit report, would this be instead of showing as satisfied? Would I b best getting a bit of extra cash and paying in full?
Thank u for the letter template guides I will get this sent off when I have decided what amount would be best.

namethattune

I to am interested in making an offer on some outstanding debts with BOS, what percentage of the debt are they likely to accept?

climbgirl

tickledpink1984 wrote: »

Thanks I have spoken with BOS and they have advised I can make full or partial payment both which would close the account. If I make partial payment this is what will show on my credit report, would this be instead of showing as satisfied? Would I b best getting a bit of extra cash and paying in full?
Thank u for the letter template guides I will get this sent off when I have decided what amount would be best.

If you don't pay it in full, it will definitely show on your credit rating, which will in turn impact on the mortgage application.

Even once the account has been paid, I believe the late payments will still show for a period of time (not 100% sure how long that is).