Partially Satisfied offer over 6 Years After Default

Ethereal_Gaz

I defaulted on a credit card in 2010. This was subsequently passed on to Lowell and I made a payment agreement which I have stuck with since then.

There is still approximately £4k balance and I have been sent an offer to pay approximately 50% of the balance which will then leave the account partially satisfied.

When it comes to my credit history would a partially satisfied account be any different to if I paid the full amount off?

I understand this would be different within the 6 years but this is no longer on my credit report.

Thanks in advance.

[Deleted User]

No. Nothing further will show if it is now off your files.

Willing2Learn

Ethereal_Gaz wrote: »

I defaulted on a credit card in 2010. This was subsequently passed on to Lowell and I made a payment agreement which I have stuck with since then.

There is still approximately £4k balance and I have been sent an offer to pay approximately 50% of the balance which will then leave the account partially satisfied.

When it comes to my credit history would a partially satisfied account be any different to if I paid the full amount off?

Two things:

1. If Lowell are writing to you with an attractive offer it may be that something could be wrong with their paperwork. To check that, I would submit a written CCA request to Lowell as this will confirm whether or not the paperwork is compliant. If they cannot provide you with compliant paperwork, then you would have a choice. Either don't pay anything, or offer them a lower settlement figure (using the non-compliant paperwork as a bargaining tool)
2. There is neither an advantage or a disadvantage between partially satisfied or fully settled.

Halfie

Could they still pursue a CCJ even if it's fallen off credit report?

[Deleted User]

Yes. .