Where does the setlement fit?

Righttrack

Hi,

I wonder if you could answer a question.
We had a default from 2006 so no longer shows on our credit reports. The debt is still being paid off and there is a charging order on our property.
My question is, if we pay, but not the full amount, as they have offered us a settlement figure, where does the partially setled record go? Does the debt go back on our credit reports?

Thanks

fermi

The whole account record is removed by the CRAs when the default drops off. It cannot be reinstated, so any partial settlement would simply not show.

Righttrack

Thanks for the reply fermi.

Our records are now squeeky clean, so that has eased my mind

Many thanks

Ben8282

Make sure the charging order is properly marked as settled and removed from your property as part of any settlement

Righttrack

Yes, I will do Ben.

I have found, on here, a very good template to use that states a condition of the settlement is the charging order and the land registry files being cleared

Many Thanks