SafetyNet

happy2017

Hi, I received the below email in relation to my account which I have a balance of £31. 

Should i just pay the £31 off fully before the 9th April so its fully settled rather than Partially settled, what's peoples thoughts please?

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Important Information from Tappily/SafetyNet Credit

Dear Customer

As you may be aware, on 9th January 2023 Joe O’Connor, Clare Kennedy and Simon Appell of AlixPartners were appointed Joint Administrators of the Company.

The affairs, business and property of the Company are being managed by the Joint Administrators who act as agents of the Company and without personal liability.

The Joint Administrators are authorised to act as insolvency practitioners by the Insolvency Practitioners Association.

We are writing to let you know that collections for outstanding SafetyNet and Tappily loans will cease after 9th April 2024. No scheduled payments will be attempted and any Standing Orders will bounce and should be cancelled. If you still have an outstanding balance at this point, this will be marked as partially settled on your credit file to reflect that you did not fully repay your loan..

ayupmeduck

I got that email and I'll have £1200 wiped. Can you pay the £31? when will it drop off your credit file?

sourcrates

It will depend on whether it makes a whole lot of difference to you either way.

I assume the account did not default, so pay the money if its what you want to do.

Administrators don`t always update credit files like they promise, for example Bright house just abruptly stopped reporting in December 2019, they may or may not keep their word.

fatbelly

Unless you're going to be looking for the ultimate mortgage deal over the next six years, it won-t make much difference.

If you are, or could be, then caution suggests you pay it, but logic asks why you were involved with them at all?

happy2017

ayupmeduck said:

I got that email and I'll have £1200 wiped. Can you pay the £31? when will it drop off your credit file?

That’s good news on the £1,200.
its not defaulted so 6 years

ayupmeduck

happy2017 said:

ayupmeduck said:

I got that email and I'll have £1200 wiped. Can you pay the £31? when will it drop off your credit file?

That’s good news on the £1,200.
its not defaulted so 6 years

Ah mines defaulted but it took them 2.5 years to do so lol So it will show as a partially settled default for longer. 

CharlieB0538

So, just so I can get this right in my head. The money I have left outstanding with Tappily/Safetynet is going to be wiped out and I will just have a partially settled debt on my file? Sorry if it seems easy to answer

happy2017

CharlieB0538 said:

So, just so I can get this right in my head. The money I have left outstanding with Tappily/Safetynet is going to be wiped out and I will just have a partially settled debt on my file? Sorry if it seems easy to answer

Yes.  I only had about £40 left so just paid it today