Newbie wants advice on credit search

In_a_spin

Hi

I have been lurking on the site for a while. Have been in a DMP since 2005.

Finally got my credit file from the noddle and equifax, waiting for my pin number for experian. We are paying at least 8 different DCA's for myself, 3 joint and about 7 for my OH.

My credit reports are only showing two of the joint account debts, 3 of my other creditors and one that was settled in Oct 2008. I am still paying on all the others so why do they not show on my credit report?

the default dates on the files are from Apr 06 to May 07.

Can anyone advise me?

Tixy

Hi

Its likely that the accounts that no longer appear were defaulted before Jan 2006. Defaulted accounts drop off your file 6years from the date of the default.

Or there could be some that will show on your experian file when you get it through (it is the most used of the credit reference agencies).

fermi

If some creditors defaulted you right at the start of your DMP in 2005, then those defaults and accounts will have been removed from your credit reports.

Otherwise some may just not report info to the CRAs you have checked, or perhaps not at all.

In_a_spin

I have had an offer from one DCA which are not showing on my credit file to settle two accounts with them for a lot less than I still owe. If I accept this would this then show on my credit file and I would need to wait 6 years for this to come off?

Would I be better off just continue paying them?

Tixy

If you are going to make a reduced full & final settlement on debts then I would follow the advice in this factsheet - http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

to ensure you get the offer in writing and to get confirmation that the settlement will be in full & final settlement of the debt.

If you do a F&F offer then the debt will not appear on your file for any longer than it would do anyway. If its already dropped off it won't appear again. If its on one of your other credit files, it won't stay on any longer than otherwise, it will still drop off 6 years after the default date.