Partially satisfied

geordiejc

Hi,

One of my creditors who bought a debt which hasn't defaulted has accepted my full & final offer, but they said because it hasn't defaulted the loan will show on my credit file as closed but 'partially satisfied'

What is the impact of having 'partially satisfied' vs 'fully satisfied' ?

Thanks.

sourcrates

Hi,


If you pay a debt off in full, it will show as settled/satisfied.


If you make an offer of less than the outstanding balance to pay off a debt, it will show as partially settled/satisfied.


Its actually in your favour the account was never defaulted, unless you have AP (arrangement to pay) markers ?


Defaults are worse for your credit file than a partially settled debt, cant say what the impact would be as it would only matter if you applied for credit again, and all creditors have differing acceptance criteria.

geordiejc

I have a DMP for all 4 creditors. 2 defaulted when i went into financially difficulty, the other 2 have just had 'dmp' or 'reduced payment received' markers applied to the reduced payments.

So a partially settled account is not a bad thing?

sourcrates

geordiejc wrote: »

So a partially settled account is not a bad thing?

Its the best you could hope for in the circumstances, I wouldn't waste sleep over it personally.