Credit agency, default but paid off

giddingsno1

Hi,

Haven't been on here for a while!!

I had a debt with Natwest which I agreed to pay monthly which was paid by standing order, when they called me to have a review I said that nothing has changed since last time but the lady on the phone didn't like what I was saying and said that if I don't comply then she will pass this onto their debt collection agency I repeated that nothing has changed and then she hung up on me!! (I did actually find that funny, how she hung up on me!!)

A couple of weeks later I had a letter from their debt collection agency (can't remember the name..maybe westcot), anyway my husband dealt with the matter as I agreed let him have access.

They emailed him to say that they would settle the debt if he was to pay half the amount, he phoned up and paid.

What I would like to know is Natwest originally slapped a default against me in 2005, my credit file still shows that I have X amount outstanding to Natwest (this was last updated at the beg of Jan).

When will this show as being settled? The settlement was paid a couple of weeks ago.

To be honest I didn't want to pay them (but my husband was concerned) as when I called Natwest to find out why this had been passed on they said they couldn't comment as it has now been sent to the collection agency so its not their problem and basically they didn't care even though I was paying them monthly, unbelievable!!

Any advice grateful, thanks!

GeorgeUK

It should take no more than 2 months.

The DCA may notify the CRA at the end of the month;
Then the CRA may update their records at the end of the month.

If it was to take any longer than this, i would contact the CRA to enquire as to what was happeneing.

Don't forget though that the default will remail on your file for 6 years (almost gone) and the payment won't get rid of that.

Tixy

The default will continue to show for the rest of the 6years. As he arranged the payment over the phone the debt may only show as partially settled/ or short settled. For future if you are doing any reduced settlements its important to read this- http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

giddingsno1

He did get an email which I have printed off with all their company details on stating that this was full settlement for the debt oweing..