partially settled debt=Problems getting crdit with the creditors???

[elvis77]

Hi

 

I was wondering if anyone could advise me.

 

 

Back in 2010 I had around £32k of debt (mostly credit cards and and a loan/overdraft).

 

 

I lost my job so I stopped paying my debts, as I was no longer in a position to pay them.

 

Over time I got back into work,

however I was now being offered partial settlements on some of my debts

and because of the massive hole I was in at the time I decieded the best way to clear the debts would be to take up this option and pay a reduced rate.

I typically paid around 33 per cent.

 

Using this method I cleared all but 1 of my debts by January 2015.

 

Since the start of the year things have been going well for me in work and I along with my wife have been able to save a deposit for a mortgage.

 

I then recieved a letter from the last remaing credit card offering a partial settlement on the account of 33 percent.

I decided to take it as I believed it would help me get a mortgage as my credit file would show 0 debt.

However I was aware that the likelyhood was the default and debt would be written off regardless in the next year.

 

I have now found the company I am applying for the mortgage with belongs to the same organisation I have recently partially settled an account with.

 

Can anybody advise if I am likely to get a mortgage because of this or should I try an alternative mortgage provider?

Thank you in advance for any advice.

elvis77

[dx100uk]

so what 'does' you credit file say regarding this debt?

 

 

dx

[elvis77]

My credit score on experian is excellent 999! However the recent partial settlement shows partially settled.

[dx100uk]

I said the debt not your 'score'

 

 

so there is no default in the debt summary etc etc so it wasn't harming you anyway?

[elvis77]

It show default date 8/4/10 and partial settlement 1/6/15

[dx100uk]

then sadly you might have wasted your money

the default is there for 6yrs regardless

on that date the whole account vanishes

doesn't mean its not owed mind....

 

 

but might well kill a mortgage wherever you go...

 

 

though it might go to your favour that you've paid it

as its still listed under the original creditors name on the credit file?

 

 

dx