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Settlement figures affecting credit ratings
Just been told by Beneficial Finance that if I pay back my Personal Loan Plus using a settlement figure that they give me, which is lower than my curent balance, it could effect my credit rating.
Is this right? - surely it can't go against me if I am settling a loan using a figure that they are giving me and agreeing to?
Is this right? - surely it can't go against me if I am settling a loan using a figure that they are giving me and agreeing to?
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Just been told by Beneficial Finance that if I pay back my Personal Loan Plus using a settlement figure that they give me, which is lower than my curent balance, it could effect my credit rating.
Is this right? - surely it can't go against me if I am settling a loan using a figure that they are giving me and agreeing to?
It depends if your agreeing to a full settlement or if you have asked them to reduce the amount in response to an immediate final payment
If its the latter then yes they can if its the former theres no reason it would and their probably trying to con you into paying the loan off as normal and getting more interest0
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