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boardangels

Hello
Does Anybody Know If I Was To Set Up A Payment Plan On A Debt That I Have Defaulted On If This Would Be Then Come Up Satisfied On My Credit File?

GeorgeUK

Once you have a default on your credit file, it will be there for 6 years. If you set up a payment plan, the balance owed will show it reducing, but won't show as satisfied until the debt has been paid.

boardangels

thanks george
do you think i should wait another 2 years to have the debt written off its 590 for bank charges and 290 for a loan to pay off the debt both rbs? i have been contacted by lowell

Deep_In_Debt

As George has said, it will only show as satisfied on your credit file once the debt has been paid off. Debts are generally not written off.

boardangels

could i send a ccs to them do you think?

Deep_In_Debt

You can CCA them provided the debt is not an overdraft as I don't think that overdrafts are covered.

From experince, I find debt collection agencies i.e. Lowell easier to negotiate with than the original creditors - could you offer them a token payment say £1.00 or £5.00 per month until you can get yourself sorted?

boardangels

thanks deep in debt what would happen if i just ingnored them i am on benefit and have no assets

Deep_In_Debt

Not sure on that one but I guess they will keep chasing you and threaten with all sorts. the debt will get passed around from DCA to DCA. Generally best not to ignore if possible.

How old is the debt? If it is older than 6 years and you have made no payments towards it or acknowledged it in that time, then it would become statute barred so they would be unable to enforce it (5 years I think in Scotland).

However, it may be worth sending a CCA to see if the debt is enforceable or not.

boardangels

hello again deep in debt it says on my credit file i defaulted in 2005 but i think it was well before this and i am in scotland .if i send a cca does that class it as being in contact and what would that mean?

Deep_In_Debt

That's a good point. I'm no expert on this and it may open a can of worms but it's up to the creditor to prove you owe the debt.

I'm not sure on this one so will leave it to the experts from now, sorry I can't help further.

GeorgeUK

When you send a CCA letter, you state on it "I acknowledge no debt to your company". This means that the clock does not restart for it being statute barred. I posted on one of your other threads (I think).

If the debt is for a loan or creditcard, you can do a CCA request, but not for an overdraft.

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