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Alice H
Alice H, Solicitor/Partner
Category: Law
Satisfied Customers: 2850
Experience:  Partner in national law firm
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Ive had a credit card debt with Halifax for over a year now.

Resolved Question:

I've had a credit card debt with Halifax for over a year now. I've settled with two other credit card issuers but Halifax has refused to do so, despite the fact of reaching agreement with their various debt collectors or agents on 50% of the amount outstanding.
After many changes in their collectors, the last one (Authorised and Regulated by FCA) has accepted settlement on that basis. My worries are the following. Are these brokers/agents unhorsed to settle for the full amount of the debt? More importantly, can they ask the credit reference agencies to clear the account?
Submitted: 3 years ago.
Category: Law
Expert:  Alice H replied 3 years ago.
Alex Hughes : My name is***** and I'm happy to help with your question today. I need to ask you some preliminary questions to be able to help you.
Alex Hughes : Is this an assigned debt?
Customer: What do you mean?
Customer: Also there was a typo error in my query. The word 'unhorsed' should be replaced with authorised. And how "partially settled" in the credit reference agencies affect my creditworthiness?
Alex Hughes : Good morning. Agencies acting on behalf of the original creditor is authorised to accept any offers that you make whether these be full or partial. Once the agreed payment has been made they are also duly authorised to update the credit reference file. If partial payment is made but accepted in full and final settlement then the credit file has to marked as 'settled'. If the account had a 'default' registered against it then the default will remain in view for six years but the settled status mitigates any harm done. It is always better to settle defaulted accounts as quickly as possible to regain a healthy credit file. It shows an effort to take responsibility of the situation and a willingness to repay debts. So the fact that you have cleared this account will certainly go very much in your favour.
Alice H and 2 other Law Specialists are ready to help you
Expert:  Alice H replied 3 years ago.
Good morning. Agencies acting on behalf of the original creditor is authorised to accept any offers that you make whether these be full or partial. Once the agreed payment has been made they are also duly authorised to update the credit reference file. If partial payment is made but accepted in full and final settlement then the credit file has to marked as 'settled'. If the account had a 'default' registered against it then the default will remain in view for six years but the settled status mitigates any harm done. It is always better to settle defaulted accounts as quickly as possible to regain a healthy credit file. It shows an effort to take responsibility of the situation and a willingness to repay debts. So the fact that you have cleared this account will certainly go very much in your favour