help with default / debt

onthefencepost

hello all,

I was hoping if you could help.
Basically I had 4 defaults of which 3 have come over earlier this year.
However I have one remaining which will stay on my file for another 3 years.

Now I want to know if there is a way to remove this default off or get it settled on my file? How should I approach them with this?

They have written to my recently saying that it will be discounted. Currently the debt is around £3500. I have savings but these are for a rainy day - however in the coming months I have some more funds coming in and want to clear these guys off.

What the best approach for a healthy discount? Also will they take off my default? or will it show up as settled. I'm really hoping to get closure on this as next year I'm looking to take over the mortgage in the current house which has 60% equality in but I don't have the cleanest credit file. I have no CCJ and currently have three credit cards which i use small amounts off and pay in full. Also have one loan which will be paid off next year.

Thank you

National_Debtline

Hi onthefencepost


You shouldn't hold out any realistic hope of the default being removed altogether unless it is not factually accurate. If a settlement is agreed, you should seek confirmation from the creditor prior to making the payment that the debt will be marked as settled on your credit file. This will show as a "partial" settlement assuming that you agree on a sum that is lower than the full balance outstanding.


You should start by reading our guide to negotiating lump sum settlements:


https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx


As this covers all the basic things to consider and includes links to useful letter templates.


Dennis
@natdebtline

onthefencepost

Thanks for the link