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Partial settlement
MCS01
Posts: 5 Forumite
Hi everyone
I'm looking for a bit of advice. I have offered to settle one of my loans that's £6338 for £2600 as I have come into a bit of money. The loan company has said they will accept this but will mark it on my credit file as nil owing but partial settlement. I did as them to mark it as settled in full but they won't do this. How will this affect my credit file and is it best to get it paid off now rather than wait and pay the monthly payments which are currently £100 and my credit file is being marked as default as its below the min payments.
Thanks
I'm looking for a bit of advice. I have offered to settle one of my loans that's £6338 for £2600 as I have come into a bit of money. The loan company has said they will accept this but will mark it on my credit file as nil owing but partial settlement. I did as them to mark it as settled in full but they won't do this. How will this affect my credit file and is it best to get it paid off now rather than wait and pay the monthly payments which are currently £100 and my credit file is being marked as default as its below the min payments.
Thanks
0
Comments
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default is worse than any partial settlement. You may as well take the deal if you canStill rolling rolling rolling......
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SIGNATURE - Not part of post0 -
According to Experian if there is a default, anyway.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Check how old the default is and weigh up the odds and yes; it will have some effect as it will no longer show that you have £6338 as outstanding bad debt.0
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I have just checked my credit report and the loans are no longer on there as they are over 6 years old.0
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Excellent news!0
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