Debt Collection Agencies

David-T-Rex

Hi,
Couple of quick questions
1. If I am with some debt collection agencies and I get a bit of extra money would it be worth making a offer for say 40% of the amount to close it all down? I have just sent a letter to each of them to increase my payments.
2. Will this have an impact on my credit file?
There is a closed account on my credit file shown as satisfied but with default until Dec 2015
There is also a Debt Assigned in Nov 2013 (also shown as settled)

Everything else on my file is showing as up to date and no problems.
I am thinking about getting a shared ownership mortgage and don't want anything to impact the chances of anything negative being added to my file by making a reduced offer.

sourcrates

Hi,

Defaults are what causes damage to your credit file.

So the damage has been done already, settling in full or partial, won't make much difference to be honest.

Once the defaults are gone, your chances should Improve.

David-T-Rex

Thanks for that.
Thats what I thought so I am thinking its better to pay off whatever they will accept and put the saved money towards a deposit in a few years time.

sourcrates

David-T-Rex wrote: »

Thanks for that.
Thats what I thought so I am thinking its better to pay off whatever they will accept and put the saved money towards a deposit in a few years time.

Yes, that would be my choice.