GeorgeJungle
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partial settlement instead of full and final settlement
GeorgeJungle replied to BARFLY's topic in Debt Collection Agencies
I will apply for a mortage next july joint with my partner. her file also has a number of partial settlements. Obviously the effect will be negative, however it was previously spotless for 5 years. my point was that it is senseless trying to get them to mark the file as fully settled, because they wont do that. The only leverage they have over you , is to mark your file. -
partial settlement instead of full and final settlement
GeorgeJungle replied to BARFLY's topic in Debt Collection Agencies
I just did a partial settlement with MBNA for 60% and in their template letter they say 1) the account will be closed 2) they will not persue me for the debt 3) my credit file will be marked as "satisfied" (which means partially settled). The remaining balance of £7000 will be shown. This marks the end of a long road for me. Having been through the process to the end, I can assure you that trying to "negotiate" for "full and final" on your credit file is a complete waste of time and whilst there are many on these forums egging you on to "hold on" and "negotiate" I am not aware of a single person who has part settled and got anything other than that recorded on their credit history. I have a clean file now apart from a single "short settlement" with MBNA. Nothing else.
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