Credit Report Info Required Default - "Settled"

noomsybaby

Hi, just did a credit search on experian (£20 cashback from quidco for free 30 day trial) and saw a status for two of my accounts that puzzled me.

History
Last August I voluntarily allowed northern rock to repossess my House.
This was duly sold and due to the property prices dropping there was money still owing ~12k. I also had a ~20k unsecured loan that had been secured against the property due to defaulted payments. I received a letter stating what was still owed and that they would be in touch (or I was to contact them, not sure which). Since then no letters or threats (strange I thought but was trying to sort all the other debtors out so a relief from the phone calls)

Back to the present.
On my credit report the two loans now show as defaulted and settled !

Does this mean they have written them off or have I got a nasty surprise coming one day ?? :think:


Any advice appreciated

Neil

fermi

They aren't likely to write them off. Most likely you will here from someone eventually.

They may have sold the loans on to a debt collection company, in which case credit reports can say settled with the original lender for a while.