Quick question !

fedupwithbanks_2

Hi

Have now sorted out the full and final offer we had from AMEX (they have said they will now put it all in writing and send it out etc) My question is as we are only paying 50% and they are going to mark it as satisfied on the file and it is a full and final, will that be an end to it, or will they mark it as defaulted as I am a bit worried that this may still happen even though it was them that made the offer,we didn't ask. Can they still give us a default as even though we are on DMP with them as one of the creditors they have not defaulted it. The last thing I want to do is accept their offer if it means an automatic default as that will mess up the credit file even more for longer.

Thanks

Ellie xx

pania

probably best to ask them what their intention is. usually if they have offered a settlement and you have paid that is the end of it. Bit unfair to default you on it! best to check just to make sure. Best wishes

fatbelly

You want it in writing that they will mark it as settled. Don't pay until you get that.

Later you need to check that it has been done. I'm surprised they are accepting a 50% offer if it has not already been defaulted. You want the status changed.

fedupwithbanks_2

Hi

Thanks for the replies.

FB Later you need to check that it has been done. I'm surprised they are accepting a 50% offer if it has not already been defaulted. You want the status changed.

What do you mean about wanting the status changed?

If they agree to mark it as settled does this then mean there will be no default on the amount they have agreed to wipe off, is this what you mean?

Thanks again

lonely_2

If you do a full and final settlement, they will probably mark it as a default and then put a satisfied notice beside it. That's what usually happens unless they agree otherwise. But like others have said get them to confirm what they will do in writing.

Conor_3

Hell, if I got away with not paying 50% of a debt, the last thing I'd be worried about would be a default mark in my credit file. Surely it's a no brainer?

Are some people honestly so bloody daft that they'd rather owe thousands more than have a black mark on their credit file.

Your credit is stuffed anyway. I'd be more interested in getting to a point where I can afford to live without being hand to mouth than how many black marks I had on a credit file.

wherediditallgo

Conor wrote: »

Hell, if I got away with not paying 50% of a debt, the last thing I'd be worried about would be a default mark in my credit file. Surely it's a no brainer?

Are some people honestly so bloody daft that they'd rather owe thousands more than have a black mark on their credit file.

There's no need to be rude.

It's an important point to query. If something is marked as defaulted, then it's on their file for up to 6 years. fedupwithbanks is perfectly right to query what will happen in their case, & the advice to get what Amex are planning to do in writing is correct too. Once they've paid the money, it's too late to do anything about it.

Conor wrote: »

Your credit is stuffed anyway. I'd be more interested in getting to a point where I can afford to live without being hand to mouth than how many black marks I had on a credit file.

That may well be you, in your situation. However, not everyone is in your position, & for them how many 'black marks' are on their credit file & for how long may be just as important a consideration.

Conor_3

wherediditallgo wrote: »

However, not everyone is in your position, & for them how many 'black marks' are on their credit file & for how long may be just as important a consideration.

Sorry. I forgot that some people are so daft that even though they're up to their eyeballs in debt, they want to preserve the ability to be able to get back in that position again at all costs, including losing the ability to dig themselves out of the hole they're currently in.

wherediditallgo

Conor wrote: »

Sorry. I forgot that some people are so daft that even though they're up to their eyeballs in debt, they want to preserve the ability to be able to get back in that position again at all costs, including losing the ability to dig themselves out of the hole they're currently in.

It's not that they're daft. What you seem to have failed to take into account is one of the reasons why people will enter into DMPs etc rather than go BR - they don't want defaults on their record, & don't want to put their homes at risk. People get their debts resolved in the best way suitable for them, & as long as they acknowledge them & are doing something about them then they are getting things sorted out. You're entitled to disagree with the way they go about it, but you don't have to be quite so rude about it. This forum is about support & help, not judgement.

fatbelly

Conor wrote: »

Hell, if I got away with not paying 50% of a debt, the last thing I'd be worried about would be a default mark in my credit file. Surely it's a no brainer?

Yes, but if you can get away with not paying 50% of a debt, and remove a default mark in your credit file, surely that's worth trying.

fedupwithbanks_2

Hi

Thank you to nearly all of you for the help, support and advice you have given me, after all this is what this board is here for isn't it ???

Connor
Sorry. I forgot that some people are so daft that even though they're up to their eyeballs in debt, they want to preserve the ability to be able to get back in that position again at all costs, including losing the ability to dig themselves out of the hole they're currently in.


It was so good of you to offer your comments based on knowing absolutely nothing about me or my situation !!

I may be daft but I did manage to read the announcement at the beginning of the board about it being for support, if you need help finding it please let me know and I will be more than happy to post it to you (after all it is in the same place every day) It was also good to see that you managed to keep your house by having a partner buy the OR out for you (yes I bother to take the time to read peoples other posts before making assumptions - wow that is a long word for someone so daft !!!) I was also pleased to see the help and support you have received when you posted for help with your dads house - maybe you could do the same or not bother.

Sorry to take the board over for this, I wasn't going to say anything but if this was someones first post they would probably not come back and would miss out on really helpful and valuable advice, alot of people who find this forum do so at one of the worst times and when they are really quite desperate for advice and support so please think about this before being so rude in the future.