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What would a Full and Final settlement do to a clean credit file
animox
Posts: 47 Forumite
Hi I was hoping someone has done this or can clarify the situation.
I have been on a DMP for over 6 years now, slow reducing my old debts.
My credit file is now clear, but I still owe.
If i was to accept a full and final settlement offer from one of the companies would this show on my new clear credit file?
any help appreciated, thanks
I have been on a DMP for over 6 years now, slow reducing my old debts.
My credit file is now clear, but I still owe.
If i was to accept a full and final settlement offer from one of the companies would this show on my new clear credit file?
any help appreciated, thanks
0
Comments
-
Hi,
Short answer is No.
Defaulted debts only show on your file for 6 years.
If the accounts have fallen off your file it does not matter how they are settled, no further information will be recorded.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 -
Many thanks for your response.
My wife has a similar dmp with 1 default left on her file which will clear in 1 year.
If I again accept a full and final settlement offer on this debt will it still clear in a year or reset to 6 years?
thanks again0
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