Been offered a moorcroft partial settlement

glenandemm

As above been offered a deal to pay my credit card early and save £3-400 I owed and it will show as partially settled on my credit file, I believe this stays on for 6 years but as I’ve just recieved a ccj recently for another card I buried my head in the sand on, am I better to take the offer to its done and settled and I can use the money to pay off other debts?

[Deleted User]

Depends on your “other debts”.

Post a SOA on the Debt-Free Wannabe board

Willing2Learn

glenandemm wrote: »

As above been offered a deal to pay my credit card early and save £3-400 I owed and it will show as partially settled on my credit file, I believe this stays on for 6 years...

If the account has been defaulted, then it will be automatically removed from your credit file, six years from the date of default. However, if the account has been marked on your credit file with 'AP' or 'AR' marker, then it will be removed from your file six years from the date the account was settled or satisfied.

You could make this debt repayment, the first step in your 'debt snowball' journey.

glenandemm

Hi thanks for replying, your correct I was checking my credit file and noticed they had moved to closed accounts showing the outstanding debt as it was 2013 since I last made a payment shamefully, how long will they stay on my closed account status for before they’re removed off there?
I’m wondering if I pay the partial settlement figure would they go off my closed accounts list sooner?

Willing2Learn

glenandemm wrote: »

Hi thanks for replying, your correct I was checking my credit file and noticed they had moved to closed accounts showing the outstanding debt as it was 2013 since I last made a payment shamefully, how long will they stay on my closed account status for before they’re removed off there?
I’m wondering if I pay the partial settlement figure would they go off my closed accounts list sooner?

No. The accounts will be removed from your credit files six years from their respective dates of default.

[Deleted User]

Morally you should pay it.

If you don’t they could still for for a CCJ.