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full and final payment
bob_wilts
Posts: 5 Forumite
Hi.
I'm about to pay full and final amounts :jfor loans I defaulted on about two years ago.
Both companies have said that it will be a 'full and final' payment. apart from getting that in writing is there any thing I should look out for. Can they claim the rest of the money some years from now?
Will this now improve my credit score?
Also my wife was named on one of the loans is there any way I can now get her credit rating back up again.
thanks
I'm about to pay full and final amounts :jfor loans I defaulted on about two years ago.
Both companies have said that it will be a 'full and final' payment. apart from getting that in writing is there any thing I should look out for. Can they claim the rest of the money some years from now?
Will this now improve my credit score?
Also my wife was named on one of the loans is there any way I can now get her credit rating back up again.
thanks
0
Comments
-
Hi.
I'm about to pay full and final amounts :jfor loans I defaulted on about two years ago.
Both companies have said that it will be a 'full and final' payment. apart from getting that in writing is there any thing I should look out for. Can they claim the rest of the money some years from now?
Will this now improve my credit score?
Also my wife was named on one of the loans is there any way I can now get her credit rating back up again.
thanks
Just make sure that you get the words 'Full and Final Settlement' on the offer BEFORE you pay, then NO-ONE (Not even Mackenzie HALL :mad: ) can ever ask you for another penny against that debt.
The 'default will remain on your credit file, although it should be marked as 'satisfied'.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0
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