full and final on credit report if already dropped off after 6 years-confused

floozy44

If a debt drops of your credit report after 6 years, but you still owe and are paying it. If you then offer a full and final settlement for a reduced amount-and they say they will mark partially settled (or however they word it) on your credit report-does this make it reappear-as surely thats worse??:think::undecided

I might have got completely the wrong end of the stick but just trying to understand more. I wish they taught more about the school of life in maths when we were at school:embarasse

Also if you have to send a revised offer for full and final-if the refuse the first one-did you use exactly the same template??

weebit

I asked this exact same thing a few months ago, and the answer given was no, it doesn't reappear, so how it's marked isn't important.

In the end, i didn't accept the offer and am continuing my monthly payments so i can't tell you if it's true from experience though.

just noticed your second question too... personally i wouldn't bother with the templates and i'd write my own, but i suppose using the same template would probably work... just make reference to the previous offer before making an alternative offer.

sussexchick

floozy44 wrote: »

If a debt drops of your credit report after 6 years, but you still owe and are paying it. If you then offer a full and final settlement for a reduced amount-and they say they will mark partially settled (or however they word it) on your credit report-does this make it reappear-as surely thats worse??:think::undecided

I might have got completely the wrong end of the stick but just trying to understand more. I wish they taught more about the school of life in maths when we were at school:embarasse

Also if you have to send a revised offer for full and final-if the refuse the first one-did you use exactly the same template??

Oddly enough I asked the same question this week as I was advised by the MBNA rep that even though my default was registered in May 2008, she advised that if I had a partial settlement registered against the debt, they would remark it and the default would register from the day of settlement ! :eek:

I was advised by the trusted team of people that know what they are talking about on here, :T, that the rep needed more training as she was talking through her proverbial backside

Hope this is of help to you :cool:

floozy44

Thank you both so much.:beer:

Yes sussexchick I agree-I like to ask any important questions on here-you get the honest factual answers. You cant ask anyone in a bank anything-I'm sure they just pluck answers out of the sky:):silenced:

:T