Partial Settlement on Student Loan

Forever

Not applicable.

logie48

I have a student loan, albeit in Scotland and not yet settled. But this does not show up on my credit file.

Forever

logie48 wrote: »

I have a student loan, albeit in Scotland and not yet settled. But this does not show up on my credit file.

Thanks logie48.

I actually have a 1996 contract (in England), and there is a clause that states that they can report my student loan to CRAs. The private debt company that I am now with have threatened to do this, but they haven't done so yet. I have been with them for over 2 years now. So fingers crossed, if I don't go through with the partial settlement, they won't do this.

This reporting of student loans to CRAs is all such a pain. I never dreamed that I would be considering this stuff twenty years after I took the student loan out.

logie48

So whats the story?

You pay £1k now and recieve a partial settled account on your file, or pay the full £3.5k in total over 5 years?

If you receive partial settled account on your file, then yes it will last for 6 years from that date. As to how much this will affect your ability to get credit during this time, have a read here.

http://www.experian.co.uk/consumer/questions/askjames261.html

Forever

logie48 wrote: »

So whats the story?

You pay £1k now and recieve a partial settled account on your file, or pay the full £3.5k in total over 5 years?

If you receive partial settled account on your file, then yes it will last for 6 years from that date. As to how much this will affect your ability to get credit during this time, have a read here.

http://www.experian.co.uk/consumer/questions/askjames261.html

Not applicable.

logie48

Good luck