I could do with some advice on something hopefully straightforward..

fermi

Yes, you can try to negotiate the complete removal of the default. Occasionally, and especially if there is a dispute, that can be achieved.

Also if the correct default date should have been more than 6 years ago, then getting that corrected would have the same effect as removal because the CRAs would no longer show the default and account on your file in that case.

hanb

Hi all,

I have a bit of an update I'm hoping you can advise on...

I received a letter from Cabot yesterday to say that if I pay of £639 (60%) off the debt it would be settled and marked as satisfied.

As I've said previously, I don't really understand credit ratings too much other than I want mine to be better than it is

My question is - am i better off paying the sum they've suggested to settle the account in full or carry on with my payment plan until I get the money I'm expecting to receive and pay off the full amount then - I should say, I'm not 100% certain that the money I'm expecting will cover the full amount yet and it could take a long time to receive. Obviously, on the face value paying off the lower amount looks like a great option but will this harm my credit rating for longer than it's already going to be? I can borrow money from my mum (until I receive the expected money) to pay the £639 so could effectively be debt free the end of this week! OR do I wait it out and pay off the full amount but not be debt free until next year?

I'm not sure my post makes any sense at all but I'm hoping someone will understand what I'm trying to say

Oh, I've received my credit card but haven't activated it yet! I will be sensible with it though. I just want to move on from this whole situation!