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default or partial default????
Elsie2_2
Posts: 209 Forumite
Anyone have any idea whether credittors look more favourably upon partial default than a "proper" default? I have the choice to make a reduced paymnt to clear one of my credit cards, but don't know whether its worth spending what i still think is a large amount of money.
Long story short - i have a cred card on which i have a bal of £2000 give or take a few pounds. As my account is now in arrears due to the fact that i haven't been paying enough to get me onto a formal atp, however i have been paying a nominal amount each mth. At this stage, they have offered me a 35% short sett (about £600), but obviously, it would still show as a partial default on my cred file. Is it worth spending this money or just allow it to default?
Let me know what you think, all thoughts welcome.
Long story short - i have a cred card on which i have a bal of £2000 give or take a few pounds. As my account is now in arrears due to the fact that i haven't been paying enough to get me onto a formal atp, however i have been paying a nominal amount each mth. At this stage, they have offered me a 35% short sett (about £600), but obviously, it would still show as a partial default on my cred file. Is it worth spending this money or just allow it to default?
Let me know what you think, all thoughts welcome.
Bank charge Victories 07:MBNA:£205.77.Natwest Credit Card:£250.A&L Bank:£549.68.First Direct:£1183.50.Natwest:£112.33+£200 compo.Marbles CC:£298.Providian CC:£181.Capitol One CC:£388.46.PPI requests:A&L credit card/First Direct loan: At Court stage.Marbles CC:£213.02 refunded.GE Money:£562.34 refunded.First Direct credit card:£747.83 refunded.
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Anyone???? My credittor is pushing me to make a payment with them asap stating that it will be more beneficial showing as a partial default, but i just don't know if thats true.
Any suggestions pleeeeeeeease.Bank charge Victories 07:MBNA:£205.77.Natwest Credit Card:£250.A&L Bank:£549.68.First Direct:£1183.50.Natwest:£112.33+£200 compo.Marbles CC:£298.Providian CC:£181.Capitol One CC:£388.46.PPI requests:A&L credit card/First Direct loan: At Court stage.Marbles CC:£213.02 refunded.GE Money:£562.34 refunded.First Direct credit card:£747.83 refunded.0 -
Sorry, I've no idea what you're talking about but I'm sure the good folk on DFW will be able to help you so I'll shift your thread across there.0
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personally, id pay the short settlement to stop the letters, phone calls and debt collectors. Your credit record is already screwed, but at least then its done and eventually your credit history will return to normal0
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it would still show as a partial default on my cred file
No such thing I'm afraid. A default is a default. If you pay a Full and Final sttlement which is less than tha actual balance, even if the creditor agrees, you will still receive a Default.0 -
sgx.saint wrote:No such thing I'm afraid. A default is a default. If you pay a Full and Final sttlement which is less than tha actual balance, even if the creditor agrees, you will still receive a Default.
Really?? Well, !!!!!! them then.
Thanks for the advice. I thought i would be doing the right thing for my cred file if i only got a partial def, ah well. Oo the liers!!! :mad:
Thanks everyone.Bank charge Victories 07:MBNA:£205.77.Natwest Credit Card:£250.A&L Bank:£549.68.First Direct:£1183.50.Natwest:£112.33+£200 compo.Marbles CC:£298.Providian CC:£181.Capitol One CC:£388.46.PPI requests:A&L credit card/First Direct loan: At Court stage.Marbles CC:£213.02 refunded.GE Money:£562.34 refunded.First Direct credit card:£747.83 refunded.0
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