Settlement offer once debt removed from credit file

[macca]

Hi,

I've been working hard to improve my credit file and get rid of some old debts that had been defaulted. This month my credit file is back to a very healthy state and all defaults have gone. I do still have two outstanding accounts which I am paying a token amount towards but due to their age they don't appear on my credit file.

If I make a settlement offer to the DCAs, and they accept an offer as full and final payment, will this reappear on my credit file as a satisfied account or will it stay off due to it's age?

Any pros/cons for doing this?

Thanks in advance,

Mark.

[nemesis45]

Re: Settlement offer once debt removed from credit file

Hi,

Once an account has been removed from credit files 6
years after the default date it cannot be reported ever
again.

If these debts are not on your credit files they are
not harming your credit profile anyway, but they
are not of course statute barred because of the
payment arrangements.

Are you receiving statements at least once a year in regard to these accounts?

Do you know how much is still owed?

When making an offer in " full & final settlement one should start the offer at
no more than 10 - 15% of the balance, giving room to negotiate.
Offers should be made ( in your situation) on condition that:-

The remaining balance (if any) is not to be sold or assigned for collection
to any 3rd party at anytime in the future.

No payment should be made until you have the creditors written agreement
to the offer on your terms.

Keep everything in writing.

nem