Tussling with DCA's

Tr1pp

Hi all,

I have a few debts which have been passed onto DCA's to chase up, I have been paying these debts for several years now at a reduced rate organised by myself.

I will be getting a bit of extra money soon and wish to use some of it to pay off a few of the smaller debts I owe.

AIC (overdraft with RBS) - 903.8 outstanding - 587.01 to settle
Capquest (overdraft with HSBC) - 584.53 outstanding - 467.62 to settle

I was going to get them both down to about 300-400 each HOWEVER they both said that unless I pay the full amount outstanding then It will be marked as partial settlement on my credit files and that they could not do anything about that as it was thir clients (the banks) who would alter the record and not them.

I have seen template letters in the past demanding a FULL settlement notice to be issued (even if settling at a lower price)

Can anyone give me some advice on this as having a partial settlement on my file doesnt seem all that great to me.

Also I have seen templates floating around on MSE but cant seem to find them, can anyone give me a link.

Thanks all

Gordon_Hose

You can write and ask, but they don't have to mark it fully settled.

Tr1pp

As the DMA claim not to have bought the debt but acting on behalf of the banks would it be better to write direct to the bank instead of the DCA?

Also what are the problems of having a debt marked as partially settled (I have been paying this for years and my credit is now looking reasonable according to equifax and the rest) would partial settlement be better than having the outstanding debt? would partially settled make a big enough difference to my credit level for me to worry as apposed to fully settled?

Gordon_Hose

If the default is in the name of the bank then they are only the ones who can change the status. Speak to them.

Obviously settled is better than partially settled, but a default is a default and will still have quite a big effect.

Tr1pp

hard part will be finding the appropriate address to mail a settlement letter to.

Anyone know of a good template letter to use?

thanks