Dealing with Apex credit management

ldn123

Hi all,

I had an old student overdraft with Natwest that has been passed to Apex, it was for c£2k and I've been paying £75 a month for the last year or so.

I've started a new job and am able to clear the balance, but was considering making them a settlement offer (I have £1500 on a cc that I'm also trying to clear and the extra would help).

My priority is getting my credit record as good as possible, as quickly as possible, does anyone know if it looks worse to have paid a settlement amount than the total borrowed?

Any advice appreciated!

happy_bunny_2

Presumably there is a default on your credit report? How long ago?

I read on here that 'settled' is better than 'partially settled' which is what you would get.

In the grand scheme, it's still a default and will make getting credit hard til it drops off 6 years after the default date

happy_bunny_2

I would write asking if they would accept a full and final single payment to settle the account in full and not pursue sell the balance etc.

Then offer less than they suggest unless you think it's a decent number

ldn123

Thanks! I'll let you know how it goes!

ldn123

I spoke to them earlier. So my balance is £1167.67, and I've been paying £75 a month for the last year or so. The full and final they offered me was £1000, which I thought for the sake of £167 I would prefer to show it as fully paid.

The guy on the phone said that because I'd been paying regularly and there was less than 2 years on the account they wouldn't go any lower.

I've upped my payments to £388.89 a month so I can at least enter 2013 debt free!