I don't doubt where my money is going as the statements reflect my payments 100% and Payplan only make their profits from IVA arrangement introductory fees.

My question really should read...

Partial or Full settlement - Before or after 6 years? Which will cause the least long term damage to my file.

No I suspect the discount letters are because there's PPI and penalty charges to reclaim?

 

And you've blindly been paying your debts to various DCA's and never once questioned the legality of the debts?

 

A dca is not a bailiff and has no legal powers whatsoever

 

Ever asked yourself why the original creditor sold a debt on and not crushed you in court???

 

I smell a few cash cow accounts here?

Ever sent any CCA requests before you blindly let payplan 'help' you??

Nope all the debts are mine and I had no PPI.

Paying does not remove the default neither will paying improve your score

 

All defaulted debts vanish from your file on the defaults 6th birthday

Thanks for your reply!

So would you say I'm best to wait until 6 years and then see what happens?

Is this why now I'm being contacted to make early settlements?

Hi guys, would appreciate your help on this.

I currently have 25K of debt which is being administered with Payplan.

I defaulted on all accounts in 2012 during a separation.

Next year I should be receiving early inheritance to the value of 25/30K So I would love to clear all outstanding debts and be debt free. However I would like to apply for a mortgage with my new partner in a couple of years and understand that companies like Halifax look at your credit file in fine detail.

A - Should I clear all debts at 100% of value before the 6 year default period ends (a couple are offering settlement options now)

B - Wait until the 6 years are up? Then ask for settlement figures Full/Partial

I don't want to partially settle if it reflects badly with high street lenders in the future..

I really appreciate your help!

Thanks Roj.