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Have I been monumentally naïve
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Ah. Well that makes me feel a bit better then!
Makes you think though - Next Directory came after me and hit me with a CCJ for £112 yet I never paid a penny off an £8000 Halifax loan and there's no mention of it on any of my credit reports...0 -
The other thing you can think of doing, and I know people have successfully done in the past is, say you owe £1000 on a certain account and you are going to pay it, when you ring them just ask/tell them nicely that you want to settle the debt on moral grounds and would there be any way they would consider removing the default, if they refuse just say you have changed your mind on repaying them and try again a few weeks later. A guy I work with split from his wife last year who left him in a lot of debt and he used this successfully with a few of the companies chasing him.0
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It's also worth asking if they'll accept a lower amount as full and final settlement (making sure you get this in writing of course). I did this with a few lenders and in a few cases paid them 60% of the outstanding debt. Ignoring morals for a moment here, one has to look after his or her's own interests, and lets not forget that certain lenders do prey on their debtors' vulnerabilities. That being said, they're fair game. :beer:The other thing you can think of doing, and I know people have successfully done in the past is, say you owe £1000 on a certain account and you are going to pay it, when you ring them just ask/tell them nicely that you want to settle the debt on moral grounds and would there be any way they would consider removing the default, if they refuse just say you have changed your mind on repaying them and try again a few weeks later. A guy I work with split from his wife last year who left him in a lot of debt and he used this successfully with a few of the companies chasing him.0 -
a partially settled account will stay visible to other lenders for years though.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
The ICO says the correct mark for a debt settled by 'full & final settlement' deal is partially settled.
Most creditors now follow the ICO guidance and the National Debtline sample letter no longer makes mention of asking for a settled mark.
https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx0 -
I grumbled at Lowell about taking their discounted offer and they told me it would show as 'Partially settled' as opposed to 'satisfied' on the credit report...0
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