Who do I pay? Who owns my debt?

GemmaLaura

Hello there,

Trying to get my credit rating back in order! I wonder if someone can offer some advice?!

I have a defaulted (2009) credit card which shows on my Credit File, with Halifax. The spend limit was £420, but the balance now stands at £1968 with charges and intereset. I have contacted Halifax and they told me to call IQOR to deal with it. I did this and they confirmed the balance etc.

Eventually I am wanting to make a settlement offer. Do I need to write a letter asking for confirmation of who 'owns' the debt? I have read that if you make payment to the debt collector - but they don't own the debt - then it won't change your credit file.

Any advice is appreciated! Thank you

McKneff

Looks like Halifax sold the debt on.

IQOR owns the debt. Yes they will change your credit file to 'settled'
This will stay on your credit file for 6 years from the date of the default.

Do everything in writing and keep copies.

GemmaLaura

Thanks McKneff - really appreciate your advice.

My credit file shows the Lender as Halifax, there is no reference to IQOR on my credit file. Will IQOR have the authority to change my credit file once settled?

McKneff

GemmaLaura wrote: »

Thanks McKneff - really appreciate your advice.

My credit file shows the Lender as Halifax, there is no reference to IQOR on my credit file. Will IQOR have the authority to change my credit file once settled?

Yes, but confirm that with them. (again, in writing/email)

regards

fermi

Halifax may still own the debt, but have simply passed it over to iQor to collect.

GemmaLaura wrote: »

Will IQOR have the authority to change my credit file once settled?

No, only the creditor named on the credit file can do that. Iqor may be able to confirm that Halifax will change it if they are acting on their behalf, but personally I would want confirmation from Halifax direct. iQor are far from trustworthy.

GemmaLaura

Thank you for your advice - really helpful.

I have two defaults on my credit file, from 2009, and that is all. Combined they total £2400, which isn't a great deal, but I can't get any credit at all now. I understand that they will appear on there - no matter - what for 6 years. Do you think having them marked as settled / paritally settled may improve my credit file? Or will it not make much difference to say, a mortgage lender?

Thanks again!