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"Pay for delete" possible / legal in UK?
My partner has two defaults in his credit report.
Would it make sense to contact the lenders and offer to settle these accounts in full on the condition that they agree to remove the default from his records?
Are there legal issues with this in the UK? Has anyone done this successfully?
Would it make sense to contact the lenders and offer to settle these accounts in full on the condition that they agree to remove the default from his records?
Are there legal issues with this in the UK? Has anyone done this successfully?
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Comments
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Thats not the way it worksHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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While you're at it, why not offer to pay extra and ask them to add loads of positive markers to his file?
Lenders record your factual credit history. If you default, they record it simple. You can't bribe them to remove it.0 -
Where is the incentive for the lender?Thinking critically since 1996....0
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You already had a conditional offer, repay your debt and they will improve your file.
You have turned them over once and are now trying to bribe them.0 -
While your at it Silene why dont you offer to pay to have other peoples defaults removed from they're credit files. The 2 defaults are proof of your partners history of his finances so 1 question Silene why should the defaults be removed ?
It might depend how old the defaults are.0 -
Would it make sense to contact the lenders and offer to settle these accounts in full on the condition that they agree to remove the default from his records?
can be done.ask this person for the letter they used https://forums.moneysavingexpert.com/discussion/3994955
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If this started to happen, it would make lenders even more strict, resulting in more people being pushed towards payday loans etc
And it would also ruin the credibility of credit reports in the process.0 -
O my what a pickle"We want the finest wines available to humanity, we want them here, and we want them now!"0
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