Will accepting reduction offer change this debt on my credit file

booksandbacon

I have received a 9k reduction settlement offer on my largest debt, taking it from 12k to 3k. They’ve also said my credit file will be marked as partially satisfied. This debt defaulted in 2018, so would be moving off my credit file this year anyway. My question is, if I accept this offer will it change the date on my credit file and leave it on there for another 6 years from date paid? 

stu12345_2

if you fully settle or partially settle that isn't what does the most damage, it's the default, and once the 6 years are up then it's a clean slate,  like I wrote, whether fully settled or partially settled within  the 6 years of date of default 

Rob5342

It will drop off your credit report 6 years after the default date whatever you do in terms of payments.

I'd be wondering why they are giving such a big discount. Have you done a CCA request? If they can't produce the CCA then you can simply stop paying it. When did you last make a payment? Only do a CCA request if you have made a recent payment as that will reset the statute barred clock. 

booksandbacon

Rob5342 said:

It will drop off your credit report 6 years after the default date whatever you do in terms of payments.

I'd be wondering why they are giving such a big discount. Have you done a CCA request? If they can't produce the CCA then you can simply stop paying it. When did you last make a payment? Only do a CCA request if you have made a recent payment as that will reset the statute barred clock. 

So a bit of history - this was a NatWest loan and has been sold on twice, now with Intrum for the last few years and I’ve been making token payments. They’ve made this offer a few times before but I haven’t been in a position accept. Do you think it’s worth doing a CCA request, even though I’ve been making token payments? 

sourcrates

If you have been paying the debt then you can`t rely on the limitation act.

No matter what you do the whole entry will drop off your file on the 6th anniversary of the default date.

Do a CCA request, you have nothing to lose by doing so.