The different effect of satisfied to settled

What difference would a account be marked as satisfied to settled would have on your credit file ?

Replies

  • QuietOneQuietOne Forumite
    129 Posts
    From what I remember.

    Settled - Is when the account is settled in full.
    Satisfied - Is when the account is settled on a agreed amount, lower than the full amount of the debt.

    Sorry I misread your question.

    I'm not sure what impact it has when the account is satisfied.
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  • dumpyboydumpyboy Forumite
    379 Posts
    The account was settled in full in September last year still being marked AR which I tried to get changed as other thread and lost, Saturday they phoned and said I broken the term as no payments have been made since September pointed out the balance is 0 , had a manger call back today who said as a gesture as good will will mark the account as satsfied, I said it should been marked as settled and closed , says it s inposiable as that do not represents breaking agreement
  • fermifermi Forumite
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    Satisfied = paid off and closed on a defaulted account

    Settled = settled where no defult was recorded
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  • dumpyboydumpyboy Forumite
    379 Posts
    fermi wrote: »
    Satisfied = paid off and closed on a defaulted account

    Settled = settled where no defult was recorded

    No default recorded but was suppose to be on a 12 year arrangement but paided of in full in 8 years loss case with ombudsman to get it changed to default said they could report for 12 plus 6 years in AR
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