Debts have vanished from credit report??? Can someone help me understand why?

BASHFUL_2

Hi all, I have just got a copy of my husbands credit report, which I do every 6 months, as I am sorting out his debts! Anyway, a couple of the debts that I am paying off have disappeared off of this most recent one? Why would this happen? Does that mean I can stop paying them off??
Any help greatly appreciated.
Many Thanks x

[Deleted User]

No.

Request a statement/settlement figure from the lenders and see what the situation is.

Tixy

Is it 6 years from when he first defaulted on them?

If so then that would be why they dropped off. They money is still owed and they could still take court action if he stopped paying them.

If it is not 6 years then maybe it could be that they have been sold to a debt collector, in which case they may reappear in a new name soon.

BASHFUL_2

Not sure how old they are. We still have a fair bit to pay off which will take years at the rate we are paying them, which is why I didn't understand how they had come off? If we are paying them and we still owe on them, shouldn't they remain on there until it has been settled?
Thanks

fermi

Defaulted account are completely removed from your report 6 years after the default. EVEN IF you haven't finished paying them yet.

Also as said, could be sue to them being sold on if defaults were not that old.

BASHFUL_2

ah I see, so even if they aren't on his report anymore, it would still be a problem to obtain credit?

Tixy

If they are no longer on his file then they will no longer affect his ability to get credit. Any potential lender will only see what information is on his file on the day they search it.

Although obviously if on an application form he is asked to detail his debts then he should still include the amounts owed in relation to these debts.

BASHFUL_2

thankyou for your reply. If his ability to get credit will now be OK, could I not just stop paying these debts? We are really struggling to pay the low monthly payments, and were paying them to improve his credit. If that isn't an issue now, what is to stop people from refusing to pay them?
Thanks

Tixy

You could stop paying them.

They may then take court action against him and obtain a CCJ.
If they obtain a CCJ and he doesn't pay it in full within a month then the CCJ will be on file for 6years from the judgement date.

If its a real struggle you could consider reducing your repayments down further?