Partial Settlement
A Partial Settlement flag is placed against an entry on your credit report when a lender reports that:
The debt was included in a voluntary arrangement which has been successfully completed or
The debt was included under a bankruptcy order which has been discharged or
A smaller amount to repay has been agreed and accepted or
An asset has been repossessed and the amount owed will not be pursued.
Public Record
Information obtained from public or court records about such things as electoral roll registration, bankruptcy filings and judgments. Public records are open to any person who requests them.
Quotation Search
A search made of your information by a lender before making a quotation for credit.
Query
You have the right to query the information on your credit report under section 159 of the Consumer Credit Act 1974.
Recourse
This “flag” will usually appear on a credit account entry within a credit report if the lender concerned has reported that the account concerned has been transferred to the dealer or retailer who introduced the customer.
Revolving Credit
An account or arrangement for the purchase of goods up to an agreed credit limit. A revolving account may involve numerous draw downs and repayments of a percentage of the balance, whereas the budget account credit facility is repaid by constant regular amounts.
Registry Trust Ltd
An independent organisation under the control of the Department for Constitutional Affairs which provides credit reference agencies with judgment information. For more information about RTL visit http://www.registry-trust.org.uk/
Repossession
Members of the Council of Mortgage Lenders record information on customers who have given up their homes or had them repossessed.
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