Default Settlement

mparter

I have a default on my file which was registered 2/3 years ago. I'm assuming if the creditor doesn't refresh my file, then this will drop of after 6 years.

1. When I settle this default, does this affect the date of it. e.g. Does it become "more recent" from a credit check perspective?

2. If the creditor agreed to accept a reduced settlement, is this indicated on my file or is it simply marked as settled?

TAG

Your default will drop off 6 years after the date it was registered. Whether paid or unpaid.

If you do a full and final settlement agreement with them it should just show as settled.

farquarpigmix

TAG wrote:

Your default will drop off 6 years after the date it was registered. Whether paid or unpaid.

If you do a full and final settlement agreement with them it should just show as settled.

Not 100% positive, but am sure when you settle your debt you can ask them to
remove it. If I remember correctly I read it on this forum somewhere.

Seek and you shall find.

Regards

Farquarpigmix.

skintchick

I had a CCJ years ago, it's six years was up a while ago and it then dropped off my credit file (it's not there now).

Not sure about getting them taken off earlier TBH, but they will mark it as settled. I never had any trouble because of mine - even got amortgage on ym own for more than they originally wanted to lend me!!! Gift of the gab...

sandanista

farquarpigmix wrote:

Not 100% positive, but am sure when you settle your debt you can ask them to
remove it. If I remember correctly I read it on this forum somewhere.

Seek and you shall find.

Regards

Farquarpigmix.

You can ask, but there is no obligation for them to do so. I was told in a letter by one creditor that they do not request removals of defaults because this information is deemed useful for lenders, blah, blah.