Question re Defaults

blackberry2

Hi,

I have just spoken with experian who confirmed that a number of defaults were due to come off my file in March this year.

I have been paying the creditors a set amount for the last 5 odd years and they still have outstanding balances.

Experian advises that the defaults will be removed and it will therefore show that I no longer owe the creditors any money!

Is this correct, will they remove any record of the debt even though I still owe them money. And this being the case I assume I can't just stop paying them ?

Any advice gratefully received.

Tixy

Yes the entries will be removed altogether 6years after the default (whether paid or not).

But no you can't stop paying as you still owe the money (they could take you to court if you don't repay - landing you with a a CCJ for another 6years).

jonjamie1970

Sorry to hijack but do the Defaults come off on the date of being recorded in court or settlement ?

blackberry2

ok great cheers, I thought that would be the case.

I assume that this might be a good opportunity to go for partial settlements, as I can just continue to pay them a small amount each month for the next 5 years without it affecting my credit rating !

Any had any experience of this situation ?