Satisfied and Settled

purplestripe

Hi All

I am trying to clear my debts off month by month. I was advised today by mackenzie hall that if I chose to take their settlement figure then it will only appear as 'satisfied' on my credit file. If I pay the full amount it will be 'settled'. I would like some advice on this please as not sure if they are trying to get me to pay the full amount?

Thanks

Buzby

It doesn't matter - both will show up as a default and work against you. They are attempting to mislead you into paying up - they'd like that, but it won't benefit you.

Tixy

Satisfied is the term used on credit files for an account that has been defaulted and is then paid in full. I.e. the default has been satisfied.

Settled is the term used on credit files for an account that did not default and has been fully paid/ended.

ybbon66

McKenzie Hall are people who certainly used to pursue old, unenforceable debt. Look on here, there are plenty of stories about what they try. I had a run in years ago with them which is why I say "used to", they may have cleaned up their act. Are you sure the deby that they are after is actually enforceable? There are form letters on here you can copy and send to them to get full details of what they are pursuing.

fermi

ybbon66 wrote: »

McKenzie Hall are people who certainly used to pursue old, unenforceable debt. Look on here, there are plenty of stories about what they try. I had a run in years ago with them which is why I say "used to", they may have cleaned up their act.

They haven't.