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does a default fall off after 6 years of default date?
jeystone
Posts: 110 Forumite
does a default fall off after 6 years of default date? regardless of whether you are communicating with the creditor? or does it reset everytime they update the file
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Comments
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Comes off after 6 years no matter what. Updating your file have no effect.
See: https://forums.moneysavingexpert.com/discussion/4756875Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
so if I satisfy the default debt, it won't add another 6 years? will settling the debt help in any scenario? does anyone view settled debts as lower risk?0
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No, it doesn't add another 6 years. The default and all details of the account are removed 6 years from the default. End of. In all cases. No exceptions.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
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