Settled account on credit file

Beags20

hi all
long story short- I made a large purchase last year which I used credit for. The supplier did not deliver the services which resulted in finally (after help from citizens advice) getting a refund and thus my finance being refunded & cancelled.

ive now noticed on my credit report I have a ‘settled’ account, which from chatting to others isn’t a positive?I want to buy a home in the next two years so I’m a bit frustrated that I’ve left this situation with a negative addition to my credit support especially with me not being the direct cause of it (despite the dispute I was still making my finance payments to avoid any affect on my rating)

Is this something that would be reasonable to dispute? And if so to who? I’m only wary of it due the home purchase in a couple of years so I’d hate for anything to hinder that process. Especially when it was another parties fault.

Thanks  All, I’ve never been in this scenario before so a bit unsure. I may be over worrying about it

[Deleted User]

Beags20 said:

ive now noticed on my credit report I have a ‘settled’ account, which from chatting to others isn’t a positive?

Not sure who you're chatting to, but settled accounts are a positive thing. 

Unsettled ones and defaults are the bad guys.

finalfantasist

Perhaps they confusing it with an account showing as "satisfied."

An account would only show as satisfied if it had previously defaulted (and CCJs will show as satisfied once paid.)  Although, of course, it's not the "satisfied" that's the problem, it's the default.

Settled accounts, as zx81 says are a good thing.

maxximus75

When a credit account that is fully paid and in good standing, it willl show as settled on a credit report.

Jamesyb123

The only recently opened and closed credit accounts that would effect a mortgage application within a recent period would be payday loans a closed finance from a couple of years wouldn’t effect it

moneyworrier2021

Is Satisfied as damaging as Defaulted, as the debt isn't paid off in its entirety?

[Deleted User]

No.  The default is the problem.

Jamesyb123

Satisfying a default gives you more of a chance of obtaining credit than a default with a balance especially when it hits 3/4 years and the effect of the default significantly reduces