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  • #1

    Defaults a few questions

    Hi I have a few quetions about defaults and settlement.

    If an account is defaulted will it help my creit rating to pay them off.
    If I pay them off will it be market settled or satisfied or are they the same.

    If I makeca low full and final does it show as partially settled or can I insist it shows fully settled
    Regardless of what it says is it wort the effort if the arent chasing me.

    I have heard that when a banknsells your debt you can send a section 10 notice to get the default removed. How do you do that and can it work?
    Tags: account, bank, ccj, chasing, conduct, credit, debt, defaulted, defaults, full and final, guidelines, help, ico, information, low, mat, money, offers, pay, questions, rating, ratings, thank you, withdraw, work
  • #2
    Re: Defaults a few questions

    Originally posted by jj19 View Post
    If an account is defaulted will it help my creit rating to pay them off.
    Debatable. Perhaps in the short term where a satisfied default may be marginally better. In the long terms more recent conduct will be more imprtant.

    Originally posted by jj19 View Post
    If I pay them off will it be market settled or satisfied or are they the same.
    Should in theory be satisfied.

    Originally posted by jj19 View Post
    If I makeca low full and final does it show as partially settled or can I insist it shows fully settled
    It's acceptable under ICO guidelines for them to use a partial settlement flag. So if they insist on that then not a lot you can do.

    Originally posted by jj19 View Post
    Regardless of what it says is it wort the effort if the arent chasing me.
    Again debatable. Look to your own circumstances.

    Originally posted by jj19 View Post
    I have heard that when a banknsells your debt you can send a section 10 notice to get the default removed. How do you do that and can it work?
    No. If they had consent or the right to place the default in the first place, then no. If the default is valid, then you can't just withdraw consent.
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: Defaults a few questions

      Thank you for the information.
      I suppose that with regard to partial settlement i could try to make it a condition of the full and final settlement that they mark it as satisfied

      Comment

      • #4
        Re: Defaults a few questions

        Marking it satisfied matters little.

        Why settle? What's the logic..... It's throwing money away.
        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

        If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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        • #5
          Re: Defaults a few questions

          Originally posted by Never-In-Doubt View Post
          Why settle? What's the logic..... It's throwing money away.
          ^^^^ I think we should make that AAD's motto

          Comment

          • #6
            Re: Defaults a few questions

            The question was really to find out if it woukd improve credit ratings. As it seems the answer is probably not then a settlement of any sort would be the last option. Would it not be better to settle than risking a ccj

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            • #7
              Re: Defaults a few questions

              Nah wait and see if they get heavy before making any offers to settle. Just keep is updated here; we'll guide you
              I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

              If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

              Comment

              • #8
                Re: Defaults a few questions

                Originally posted by planB View Post
                ^^^^ I think we should make that AAD's motto
                I thought it was PlanB
                When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                Comment

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