Credit File - Default

Simon7685

Hi Everyone

Can someone please advise me regarding a defaulted account on a credit file please.

I have sorted out most of my debt and am slowly getting turned around, I even have vanquis and aqua cards to help improve my rating and by using and paying off each month it is helping rebuild what was a terrible record.

I have one default left on my file which was put on 12/09/2005 and has been updated every month as defaulted. The debt has obviously been sold on as it was with orange and now it is Arrow Global, who I believe are a debt collection firm.

I have had no contact with them for years regarding the debt and I know about the 6 year rule on statute barring.

What I don't know is, will this default drop off my credit file automatically after the 6 year point (which is in 2 weeks time)?

Can the company reinstate it as it hasn't been paid, or keep updating it every month as a default, or is this the end of it and can I look forward to it not holding me back anymore?

Thanks in advance
Simon

nottoolate

Simon7685 wrote: »

What I don't know is, will this default drop off my credit file automatically after the 6 year point (which is in 2 weeks time)?

yes

Simon7685 wrote: »

Can the company reinstate it as it hasn't been paid, or keep updating it every month as a default, or is this the end of it and can I look forward to it not holding me back anymore?

no. they cant put it or anything else back on again.

bottleofred

Hi Simon,

The default may not drop off your credit file on the exact date, but should drop off when the credit record company update their files (which is normally the 3rd Sunday of the month I think). It may take another 3-4 weeks after the exact date, but after that should be gone forever off your credit file.

Good luck

Red

Simon7685

That's great news guys, thanks very much for clearing that up for me!

nottoolate

the only way it can go back on your credit report is if they get a ccj

seems highly unlikey if its shortly to be statute barred.