Settlement discount offer

Spring2727

I need to clear up my credit report to be able to remove my x-partner off the mortgage. 4yrs ago I negotiated a monthly pay back with outstanding creditors. I cannot afford to pay the full amount off and wondered if I took up their offers of reduced settlement..(which I could stretch too) would that help or is it better to just pay one off in full?
Either way will this help my credit file short term?

happy_bunny_2

First things first. What's on your credit report? Defaults, arrangements, CCJs, late payments.

Spring2727

Defaults only ..

happy_bunny_2

When are the defaults dated? Are they fairly accurate?

They drop off 6 years from the default date.

Spring2727

They are accurate and will drop off in approx two years. Does settling in full or part settling make any difference to the drop off date?

happy_bunny_2

None whatsoever. 6 years it is.

Fully settled is supposed to be marginally better, but not convinced myself. Partially settled gives you more money for other things. You must get these offers in writing though.

If you need a mortgage, you could maybe get with settled defaults 4 years old. Would depend on the number and amount. Would be a broker job. Best ask on the mortgage board.

Spring2727

Just checked 3 of them are November- 2009 and one is jan 2010. By the mortgage site, do you mean on one of the forums?

happy_bunny_2

On here:
http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=15

Spring2727

Thank you for your help... Much appreciated.. I suppose the other option is to wait until they drop off the report.
Once again .. Thank you ��