Full and final settlements

[Terminalpigeon]

With regards to offering companies these.

 

Can I ask though is full and final a good way to deal with your debt outstanding.

 

An example.

 

I owe DCA united  £100

I offer a settlement figure of £46

They accept the offer.

 

Does it help your credit report/score or not?

Or can you ask that the creditor mark the payment as settled or satisfied whatever the terminology is..

 

I ask as I've read a few threads with people and there success, beyond a positive mindset what are the benefits of making a larger payment rather than just clearing it off gradually?

 

 

 

 

 

[dx100uk]

none.

 

whats the debt?

 

 

[Terminalpigeon]

Lowell hold a few that I'm paying off gradually that's it to be honest. Nothing massive but showing on my file

 

Just was curious if it helps your report.

 

I guess one benefit is you pay less in the long term...

 

 

Edited November 26, 2019 by Terminalpigeon

[dx100uk]

why are you blindly paying a dca on any of your debts?

 

 

 

 

[Terminalpigeon]

Due to me getting all information they held on me and supplying proof that I did in fact owe them..

[dx100uk]

who says its enforceable?

 

 

 

[Terminalpigeon]

Well they had a copy of the agreements? It's within a time frame to have to pay them..I thought that's right?

[dx100uk]

who said the agreement is enforceable?

 

timeframe to have to pay them??...what timeframe and what rule states you HAVE to pay them because of anytime frame?

 

once a debt is defaulted by the original creditor it makes no diff at all to your credit score upon how quick , if or if not , you pay a debt off.

the debt is defaulted..end of. same damage

 

 

 

[Terminalpigeon]

8 minutes ago, dx100uk said:

who said the agreement is enforceable?

 

timeframe to have to pay them??...what timeframe and what rule states you HAVE to pay them because of anytime frame?

 

once a debt is defaulted by the original creditor it makes no diff at all to your credit score upon how quick , if or if not , you pay a debt off.

the debt is defaulted..end of. same damage

 

By time frame I mean so I don't get defaulted.

 

So what are you saying ultimately is once a debt is defaulted even paying a bare minimum is acceptable as nothing will change the current status

 

[dx100uk]

why is paying acceptable?

it changes nothing

 

if the debt is defaulted and shows a defaulted date in the debt summary

and the debt has been sold to a DCA and you have a notice of assignment...

 

paying anything or offering an F&F is pointless , it won't improve your score..

 

what's the debt?

post the CCA return here so we can ascertain it IS enforceable...

 

blindly accepting any CCA return from a DCA is enforceable is madness

blindly paying them simply because they have sent a reply is madness

equally, offering some kind of settlement thinking it wipes things is madness.

 

all your payments to a DCA to date have done is run the SB date to infinity.

all offering an F&F will do is reset that clock back to 0 giving whomever owns the debt now or in the future 6yrs to fleece you again.

 

a DCA is NOT A BAILIFF

and have

no more legal powers on any debt that you or I do not already have if we think someone owes us money

 

[Terminalpigeon]

I had a subject access request from Lowell. I'll have to get another as I shredded the last. The thing was huge. Once I get that I'll post relevant info and see what you think.

[dx100uk]

why are you sending an sar to a DCA?

 

your action should be to p'haps send a CCA request to them...

 

but as we don't know what this debt is all about we can't ever properly advise.

 

you've been here almost 2yrs now but make so many schoolboy errors on things one wonders if any advice over all your threads has ever sunk in?

 

 

 

 

[Terminalpigeon]

I agree to a point but ok I will send a CCA to get the relevant information and post it once received.

 

[London1971]

Paying off any of these makes absolutely zero difference to your Credit Score. The best way to increase your credit score is to take a very small limit credit card, use it for everything and pay it off every month.