Frustrated

jamesml

Is this a relatively normal situation? I'm no expert, but I am questioning why the debt is no longer recorded on your credit file - especially when the company you are making payments to say 'even if you pay the full debt it won't disappear from your credit file' when it doesn't even exist on your file. How long have you got left to pay and how much do you pay? Are you happy you aren't getting shafted by these companies?

Miss_Marple_2

jamesml wrote: »

Is this a relatively normal situation? I'm no expert, but I am questioning why the debt is no longer recorded on your credit file - especially when the company you are making payments to say 'even if you pay the full debt it won't disappear from your credit file' when it doesn't even exist on your file. How long have you got left to pay and how much do you pay? Are you happy you aren't getting shafted by these companies?

This is the exact reason why it seems to be that it is better getting a default on a debt. 6 years after the default date, the debt drops off your credit file, even if you are still paying it. If the creditor didn't default you, then an arrangement to pay marker would be recorded against you for the whole of the time you were paying and would not disappear from your credit file until 6 years after you had finished paying (and potentially impact your credit file for over 15 years if you pay them back over 9 years then 6 years for the final marker to drop off)

It just seems a bit of an anomoly.