Default Enquiry

buffness

Hey,

Can someone please help me?

I had an account with Blackhorse that has defaulted and got passed onto a debt collector...

I have made an arrangement with the debt collectors to pay off a certain amount each month. However, I have obtained my credit report with Call Credit who are showing that the account is still in DEFAULT.

Is this right? I did think once the debt has been sold to a debt collectors then surely it should show as settled? Or am I completely wrong?

MrsTUS

buffness wrote: »

Hey,

Can someone please help me?

I had an account with Blackhorse that has defaulted and got passed onto a debt collector...

I have made an arrangement with the debt collectors to pay off a certain amount each month. However, I have obtained my credit report with Call Credit who are showing that the account is still in DEFAULT.

Is this right? I did think once the debt has been sold to a debt collectors then surely it should show as settled? Or am I completely wrong?

Wrong. You are not in default, you are defaulted - past tense.. You have already defaulted and even if you settled the debt, you have still defaulted. You will have this on your credit file for 6 years from the date of issue, regardless of whether the account has been settled or not... a settled default is marginally better than an unsettled default, however, you will find it extremely difficult to obtain further credit for the next 6 years, including a mortgage - and even if you do obtain credit cards or a mortgage within these 6 years, it will be sub-prime/high interest..

yazzypower

buffness wrote: »

Hey,

Can someone please help me?

I had an account with Blackhorse that has defaulted and got passed onto a debt collector...

I have made an arrangement with the debt collectors to pay off a certain amount each month. However, I have obtained my credit report with Call Credit who are showing that the account is still in DEFAULT.

Is this right? I did think once the debt has been sold to a debt collectors then surely it should show as settled? Or am I completely wrong?

Have you checked Experian and Equifax? and is the defualt appearing on both of them? also who has put the defualt on Black horse or the Debt collecting company?