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signifiacant defult
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cross789
Posts: 5 Forumite
Hi guys
I have a question about a segnificant default I have n my credit file. I got in to trouble 5 years ago in March as a result I changed my personal loan with my bank to a managed loan and as a result they defauted me. I still had great difficulty in meating thee repayment options. I fell behind and went to a debt managment company.
Any way the debt was passed to a cllection agency which I pay every month but the default remains. Thats the back ground so this is the question
even though this debt will nt be paid off for a considurable time how long will the default stay on my file for?????????
I have a question about a segnificant default I have n my credit file. I got in to trouble 5 years ago in March as a result I changed my personal loan with my bank to a managed loan and as a result they defauted me. I still had great difficulty in meating thee repayment options. I fell behind and went to a debt managment company.
Any way the debt was passed to a cllection agency which I pay every month but the default remains. Thats the back ground so this is the question
even though this debt will nt be paid off for a considurable time how long will the default stay on my file for?????????
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I don't know whether it depends what sort of repayment plan you are on, but with my DMP my defaults will stay on my file until they are paid, then for six years after that
DMP Mutual Support Thread member 244
Quit smoking 13/05/2013
Joined Slimming World 02/12/13. Loss so far = 60lb in 28 weeks :j 18lb to go
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even though this debt will nt be paid off for a considurable time how long will the default stay on my file for?????????
6 years from the date they first defaulted it.
The default and all details of the account will be removed from your credit reports, whether or not you have finished paying at that point.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
skintandscared wrote: »I don't know whether it depends what sort of repayment plan you are on, but with my DMP my defaults will stay on my file until they are paid, then for six years after that
If they have defaulted them on your credit reports, then that is not true. It's 6 years from the default. End of. Settled or not.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
If they have defaulted them on your credit reports, then that is not true. It's 6 years from the default. End of. Settled or not.
That is not what I was told so is very welcome news, thank you fermi!
DMP Mutual Support Thread member 244
Quit smoking 13/05/2013
Joined Slimming World 02/12/13. Loss so far = 60lb in 28 weeks :j 18lb to go0 -
I have had different answers on the question that is why I thought I would try here the debt collection agency stated it will be defaulted until the debt was settled but I think that was scare tackticks0
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I have had different answers on the question that is why I thought I would try here the debt collection agency stated it will be defaulted until the debt was settled but I think that was scare tackticks
It was. They are telling fibs.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Thanks Femmi you have put my mind at rest :j0
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