Quick settlement Question

reidy100_2

Hi I am in a position to pay a debt off in full but have a part settlement figure available too. Am I right in thinking that part settlement gets my credit rating marked as part satisfied and if I pay in full as satisfied?? What I am getting at is will it make any difference if searchers of my credit file see satisfied or part satisfied. Also does the 6 year thing start from now??

Quick answers much appreciated as have to decide today before end of play.

Much appreciated

reidy

sheilathecat

My conscious would want me to settle in full as the debt is owed

reidy100_2

Thanks but your post has not answered any of my questions, why did you bother ??

happy_bunny_2

You are correct. Marked as partially satisfied.

From what I read on here, slightly better to have satisfied but ultimately the default will be an issue until it drops off no matter.

Make sure you get it in writing they won't chase or sell the remainder. Before you partially settle.

reidy100_2

Thanks happy_bunny

katy_ann

reidy100 wrote: »

Thanks but your post has not answered any of my questions, why did you bother ??

Maybe no need to be quite so rude?

Bettingmad

katy_ann wrote: »

Maybe no need to be quite so rude?

TBH I would have replied in exactly the same way. The OP wasn't asking for a moral judgement, they were asking a question which the subsequent poster did not attempt to answer.

Bettingmad

reidy100 wrote: »

Hi I am in a position to pay a debt off in full but have a part settlement figure available too. Am I right in thinking that part settlement gets my credit rating marked as part satisfied and if I pay in full as satisfied?? What I am getting at is will it make any difference if searchers of my credit file see satisfied or part satisfied. Also does the 6 year thing start from now??

Quick answers much appreciated as have to decide today before end of play.

Much appreciated

reidy

What is the status of the debt, has the debt been defaulted?

reidy100_2

Bettingmad wrote: »

TBH I would have replied in exactly the same way. The OP wasn't asking for a moral judgement, they were asking a question which the subsequent poster did not attempt to answer.

Indeed Bettingmad Thanks for that.

reidy100_2

Bettingmad wrote: »

What is the status of the debt, has the debt been defaulted?

Yes BM it has

Bettingmad

TBH it won't make any difference if it is a partial payment or full. Default will stay on for 6yrs from date of issue. The fact it will be partially paid will not alter the status of the default.
Make sure the terms and wording of the settlement are watertight though, as it won't be worth the paper it is written on otherwise.