defaults

birdsfly43

how long until my defaults are removed from my credit report

fermi

6 years after the initial recorded default date.

Rainy_2

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!

UsetheFORCE

Rainy wrote: »

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.

Rainy_2

Thanks, that's really helpful. I'm hoping to be paid up by that point but worst case scenario preparation never hurt!