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Partial Settlement
tallyhoh
Posts: 2,307 Forumite
Hi, Hope some can help.
A friend made a settlement offer of £400 for an outstanding debt of £500 off a Barclaycard that had been passes on to Allied International Credit December 2023
They sent a letter stating they would accept the offer & mark the credit file would be marked as a partial settlement.
.
This is not showing on her credit file Experian, it just shows defaulted?
Should this be changed?
Thank you
A friend made a settlement offer of £400 for an outstanding debt of £500 off a Barclaycard that had been passes on to Allied International Credit December 2023
They sent a letter stating they would accept the offer & mark the credit file would be marked as a partial settlement.
.
This is not showing on her credit file Experian, it just shows defaulted?
Should this be changed?
Thank you
Tallyhoh! Stopped Smoking October 2000. Saved £29382.50 so far!
0
Comments
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It should continue to show defaulted but should also show partially settled and zero balance1
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The default marker takes precedence, but the balance should be altered to reflect the partial settlement.
Keep in mind updates don`t always happen quickly.
The default will still show until it is removed after 6 years, so no real benefit to a settled defaulted debt, partially or otherwise.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
Thank you for the advice.Tallyhoh! Stopped Smoking October 2000. Saved £29382.50 so far!0
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