Partially or Fully Satisfied? Which is best?

I am in process of paying off one of my default debts. I have have owed the money for over a year, almost finished paying.

I was offered a discount from the debt collector- I have almost paid up to this amount & can complete today. Should I go for this today, or should I wait longer and pay the whole amount?

Will it look better if I finalise this now with a Partially Satisfied debt, or if I take longer and pay the whole amount for a Fully Satisfied debt?

Replies

  • zx81zx81 Forumite
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    Fully satisfied will look best, but once you've defaulted, settling it is the key thing.

    Take the discount.
  • zx81 wrote: »
    Fully satisfied will look best, but once you've defaulted, settling it is the key thing.

    Take the discount.

    Thank you - I'm desperate to get it out the way! So I think will phone now and make the final payment. It's been hanging over me a long time.
  • Willing2LearnWilling2Learn Forumite
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    It is nearing the end of the financial year and DCAs want to clear debts from their books. Now is a good time to make a counter-offer.

    It does not make much difference whether your account is marked as 'partially satisfied' or 'settled'. A defaulted account just looks bad on your file and nothing can be done about the toxic nature of it. :)
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • I've just phoned and paid it now. So it's done and out the way!

    The clarification on this has helped a lot so thanks to both of you. It's good to know I wasn't making a bad situation worse - it will just remain bad. Until the 6 year expiry of course.

    It is a big help that this is dealt with now, so I can focus my energies on other things.
  • Willing2LearnWilling2Learn Forumite
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    Well done on settling the account. It feels good when you can do that :)
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • Well done on settling the account. It feels good when you can do that :)

    Yes it does - plus, I can now filter the money I was spending on that one, onto the other default. Which speeds up paying that one off. The one I've just paid is the smaller one, so it will take more effort to clear the larger one. But now I can focus on it.

    So it's all steps in the right direction for sure!
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