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Settle debt in full or Partial?
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Posts: 763 Forumite
Hi all
I'm on a DMP with stepchange and not paying interest on my debts.
I have the option to settle a £4K debt partially with £2k and wondering if it would be better for my credit record in the long run to settle fully over time to avoid the P flag or accept the partial P on my record with the lesser repayment.
I have already defaulted so damage has been done but wondering what the best course of action is?
I'm on a DMP with stepchange and not paying interest on my debts.
I have the option to settle a £4K debt partially with £2k and wondering if it would be better for my credit record in the long run to settle fully over time to avoid the P flag or accept the partial P on my record with the lesser repayment.
I have already defaulted so damage has been done but wondering what the best course of action is?
0
Comments
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I have already defaulted so damage has been done but wondering what the best course of action is?
Hi,
You have answered your own question.
quote : "damage has been done"
So why waste 2k more than you have to ?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it 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.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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