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defaults
birdsfly43
Posts: 9 Forumite
in Credit cards
how long until my defaults are removed from my credit report
0
Comments
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6 years after the initial recorded default date.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 -
Sorry to hijack the thread but I've been searching the Forums trying to find the answer to my question!
When the default is removed from a credit report after 6 years, what happens then? If the debt has been settled then that is that but if there is still a remaining balance and payment plan in place, does the account get put back on the credit report after a certain amount of time? If so, am I right in thinking it won't go back on as a default as I will be maintaining agreed payments (although lower than minimum payments through a DMP)
Thank you!Pround to be dealing with my debts! DFW Nerd # 1201
Coloured Squares 506/900 :eek:
The early bird catches the worm, but the second mouse gets the cheese
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Sorry to hijack the thread but I've been searching the Forums trying to find the answer to my question!
When the default is removed from a credit report after 6 years, what happens then? If the debt has been settled then that is that but if there is still a remaining balance and payment plan in place, does the account get put back on the credit report after a certain amount of time? If so, am I right in thinking it won't go back on as a default as I will be maintaining agreed payments (although lower than minimum payments through a DMP)
Thank you!
6 years after the date of default, the account is removed from your file.
Whilst the defaulted account cannot be put back on your credit file, if a debt still exists and is not paid then if it hasn't already been to court, the owner of the debt can go to court for a CCJ and that unless paid within 1 month will go back on your credit file for a further 6 years.I have numerous qualifications in Business and Finance, Accountancy, Health and Safety and am now studying Law.
Don't rely on anything I write as it may be wrong!!!0 -
Thanks, that's really helpful. I'm hoping to be paid up by that point but worst case scenario preparation never hurt!Pround to be dealing with my debts! DFW Nerd # 1201
Coloured Squares 506/900 :eek:
The early bird catches the worm, but the second mouse gets the cheese0
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