Question regarding Default

inmypocketnottheirs

Under the Consumer Credit Act a default stays on a credit file for 6 years from the date of the entry, regardless of whether the debt is cleared or not, I understand.

If a default was entered and then a subsequent arrangement to pay took longer than 6 years for the debt to be cleared, would the default still come off the credit file before the final repayment was made?

msmicawber

I think you'll find that it stays on the credit record for 6 years even after it's been settled, but should be marked 'satisfied'. (At least that is what has happened with mine.)

chani1

yes it will wether it has been paid or still on re pymt plan the default should have been removed.