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Help Centre

How do settlement offers work?

A ‘debt settlement offer’ is an offer to pay your debt at a discounted amount for a limited time. If you’re eligible, we’ll let you know and we’ll apply it to your account.

🧑‍💻 Does paying a settlement affect my credit score?

We don’t report to credit reference agencies,  however, your credit file could still be impacted if you pay a settlement through us.

Before you agree to a settlement, it’s likely that your credit file has already been affected. This could be because you’ve missed payments and your lender has applied a ‘default’ label to your account.

When you pay a settlement this label will change on your credit file to say ‘partially settled debt’. While this is better than a default label, it’s not as good for your file as if you paid off the debt fully. Having a ‘partially settled debt’ label on your file could make it difficult to access credit in the future, and can stay on your file for up to 7 years.

Any updates to your credit file will be reported by your lender, so if you have any questions or concerns about your credit file you should contact them as soon as possible.

❓ What if you want to pay the full amount?

That’s absolutely fine. Please get in touch with us via email at support@ophelos.com, live chat, or request a callback here and we can remove the discount for you.

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