We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
default settled
kierze
Posts: 26 Forumite
Hi,
In the last 12 months I have started to pay off all my debts. ( I was very silly from the moment I could get credit). In the last 6 months I arranged to settle a debt which had defaulted. I know that the default stays for six years. I settled the debt 2 months ago. I did get a £111 discount as I payed it off in four months. i checked my credit file and the £ 111 is still on the balance of the default. I was under the impression that the default was settled and it would state that on my credit report. (even if I got a discount)
could someone give me some advice please.
:mad:
In the last 12 months I have started to pay off all my debts. ( I was very silly from the moment I could get credit). In the last 6 months I arranged to settle a debt which had defaulted. I know that the default stays for six years. I settled the debt 2 months ago. I did get a £111 discount as I payed it off in four months. i checked my credit file and the £ 111 is still on the balance of the default. I was under the impression that the default was settled and it would state that on my credit report. (even if I got a discount)
could someone give me some advice please.
:mad:
0
Comments
-
bump - don't know the answer to this but someone else might.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.3K Equity 36.55%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £30.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 35.5/£127.5K target 27.8% 14/11/25
(If took bigger lump sum = 62K or 48.6%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5.1K updated 14/11/250 -
could someone give me some advice please.
:mad:
Did you receive written correspondence confirming the discount, you could raise a dispute through the Company that's showing your credit report, or direct with the creditor.Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0 -
Can you check the agreement of that discount to see if they say it is a full and final settlement or a partial settlement?
Companies usually send updates to the credit reference agencies once a month so 2 months is about the most it should take for the changes to be made and updated by the CRA.After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110 -
Just phoned aktiv capital, the guy on the phone told me that the account is closed and he would send an e - mail to his manager to update the credit file and I also asked him for a receipt and took his name. (fingers crossed).
Thanks for the advice.
:T0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards