Welcome and full and final settlement

Nick2009

Hi I'm new here I'm trying to increase my credit so I can get a mortgage, like endless amounts of people in my situation. When I was younger I took out a loan with welcome finance and have defaulted I took out a 2000 loan which has now increased to the sum of £4855. I offered them a full and final settlement of £2000 which they have accepted on the terms that I do not try and claim ppi which I would be entitled to as It was mis sold, I remember the bloke saying I couldn't have loan unless I took ppi. They have basically sent me a contract to sign saying if I accept I can't reclaim ppi, do you guys think I would be able to send another letter saying I will not claim ppi if they remove my default from my credit file and pay £2000? Or do you think I should cut my losses and just pay £2000 and not try and barter default removal?:money:

DevCoder

Your credit file should represent what happened financially in the past 6 years, very very few lenders will remove a default and only then in certain circumstances.

You will (or should) get a "partially satisfied" marker rather than a "Satisfied" marker.

Thrugelmir

On a full and final settlement on file will not aid your cause in attempting to obtain a mortgage. You need to weigh up the best way forward with a longer term view in mind. As a mortgage will be some years away.