HELP :-) with Partial Settlements....

mikeblk001

Hi all thank you for looking and can I ask you all for your help/advice??

I have been a little silly in years gone by and fell into a little bit of old debt! I took this on the chin and faced the "dreaded" creditors which I have to say was not as bad as I anticipated.

So the advice I am looking for is...My creditors have offered and I have accepted Full & Final settlements on some of my aged debt, these are now showing as "settled" on my equifax report as per below:-

"Payment received as a full and final settlement although the payment would not fully clear the balance"

The others are shown as settled, my question is does this improve your credit rating noticeably? the only other thing on my account is a "default" on my file from an old current account, does anyone know that if I clear this debt will it improve my rating hugely? reason I ask is that it was defaulted in 2008and literally is due to be removed soon..should I leave that and focus on a more current debt?

Lastly should I be getting a credit report from all of the providers, so that I can make sure I do not have debt that I may have forgotten about? (TERRIBLE I KNOW!)

Thank you all for looking and I appreciate your advice

happy_bunny_2

Yes, get one from all 3 CRAs.

Defaults fall off 6 years from default date, paid or not. Unless they get. CCJ.

Settled is better to partially settled, but the default screws you more than it matters.

Make sure the wording on their letters is watertight as they have been known to chase for the remaining balance.