Part Settled

Simon1878

Hi,

Just spoke to one of my debtors Robinson Way on behalf of Santander chasing a £976 overdraft.

They have offered me a discount over 4 months meaning I'll only pay £745, it's not ideal but I'd rather struggle now and pay £186 a month and save £200 in the long run etc.

However, something the fella said on the phone was something about it showing as a part settle and will appear on my credit file that way for the next 6 years, will that still be a bad blip on my credit file?

Would it be better for me to pay it in full on my terms to avoid a part settle?

Thank you.

fermi

I presume this already has a default? If so, how long ago is the date?

Do you have any other defaults?

If defaulted it will stay on your file for 6 years from the default date, not when it was settled.

If it's defaulted or you have other defaults on file around the same time, then the partial marker would apparently have very very little or no impact and you may as well take the discount.

Simon1878

Yeah it's defaulted since December. I just don't want a part settled on the file if it's detrimental.

Thank you.

glentoran99

The default has already don't the damage, the part settlement wont make it any worse,

fermi

glentoran99 wrote: »

The default has already don't the damage, the part settlement wont make it any worse,

Basically, yes.

http://i.imgur.com/AZ49LH0.png