Default v CCJ on Credit Report

Gary_SSS

Hi All,

Unfortunately a few years ago i defaulted on a number of loans due to redundency - im still paying these off. Some of the defaults will be removed off my credit report next year (as they have been on there for 5 years already) but i doubt i will have paid them off by then. Whats happens then with the creditors? Can they then force a CCJ for another 6 years to keep it on the credit file?

Thanks.

Tixy

Once a default is removed from your file then the whole account no longer shows, but usually what would happen is you would just continue to pay the creditors until the debts are fully paid.

Are you paying your creditors back at the moment?
Your creditors could still take court action at any time against you, so in theory they could get a CCJ after the defaults have gone but they would likely only do this if you don't keep up with repayments to them or if they think you can afford more than you are paying. In practice as long as you pay them something being taken to court is not that likely (though of course nothing is guaranteed).

Gary_SSS

Hey,

Sorry for late "THANKS" but Thanks Yes i am paying them off so ill keep paying i guess