Part Settlement

[Worried2014]

Hi,

I've been paying off debts for a few years and have reached the light at the end of the tunnel where my credit record is now looking good. However, there are still one or two old debts I'm still clearing....these have dropped off my file now, which is why it looks OK.

I have now been offered the chance to part settle the accounts but obviously the letters say this will mark your file for 6yrs. Is this standard as they assume it is still showing on your file OR can they put a mark on my file now, which would then affect it for 6 more yrs

Thanks

Worried2014

[Amethyst]

Re: Part Settlement

If the debts have been defaulted for over 6 years then they can't add them back on, once they're gone they're gone. If any do still show on the file and you paid them off they'd be marked as Partially Settled, but still fall off at the 6years from default point. So long as they definately defaulted and you didn't avoid them defaulting by entering any payment arrangements ?

Presumably from what you've said you have been making odd payments etc on these debts over the last six years so no chance of them being time barred by Limitations Act ?

[Worried2014]

Re: Part Settlement

Hi sorry I wasn't clear. I have been paying small amounts on these accounts and have managed to settle other bigger debts. Now I would like to pay these off and would be happy to pay half, but not if it will go back on my file. So should I settle in full to avoid issues or am I safe to accept the part settlement offer.

- - - Updated - - -

You've already answered my question...they can't put them back on. Thanks, that's great news I can look at getting them settled

[MIKE770]

Re: Part Settlement

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[Worried2014]

Re: Part Settlement

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Thanks, I have been paying them off for a while I just wanted to speed up the settlement as they have offered the chance, but as they no longer show on my file I was worried it would have a negative effect.