Partially Satisfied Accounts

wizzzbang

happyeverafter2011 wrote: »

Surely 'Partially settled' is better than Bankruptcy on your file??

It sure is! 6-7 months ago I was contemplating Bankruptcy and totally thought that was where we as a family was heading. Partially settled accounts to me are better than complete outright financial collapse where the file would look even worse.

I think it has to be remembered that while I'm not proud of the fact I got in to difficulties I do distinctively remember a number of banks absolutely bending over backwards to lend money about 5-6 yrs back, while the ability to borrow was much needed at the time it was these banks etc that agreed to such levels of borrowing.... further said they also AGREED to a Partially settled figure!.

This maybe something that sits on my file for 6 years which has to be accepted but I would that than Bankruptcy.

I still don't know the answer to my original post so hopefully some advice will be found here?

Either way I hope sharing my experience to date helps.

honey10

I would think that it would still be 6 years from the date of default