Ignorant Credit Agencies/Firms

BillJones

gunnapaul2 wrote: »

Ok guys new update. Spoke to someone half intelligent (must of got lucky) and they spoke to their manager and have cut off £1000 from the debt if I were to pay it off in one lump sum. However this will not show on my credit report as 'settled' or 'paid' but will show as 'partially settled'. Erm, !!!!!!
?

Well yes, you want to partially settle, and they will report it correctly.

Why would you expect that they'll not truthfully report the facts?

sourcrates

BillJones wrote: »

Well yes, you want to partially settle, and they will report it correctly.

Why would you expect that they'll not truthfully report the facts?

I think the OP was a little confused as too the nature of full and final settlements, and how they would be recorded.

gunnapaul2

Really just need to know if anyone knows if I was to pay off the two main debts showing on my account it may/should clear the debts off my credit report? Once I receive my £2 report it'll confirm my exact debts and credits on file.

gunnapaul2

Surely someone must be in the know of this situation I need advice on? I'm probably being impatient with it being bank holiday weekend and all, but I'm that determined to get this debt sorted.

marliepanda

gunnapaul2 wrote: »

Really just need to know if anyone knows if I was to pay off the two main debts showing on my account it may/should clear the debts off my credit report? Once I receive my £2 report it'll confirm my exact debts and credits on file.

How do you mean by 'clear them off'

They won't disappear from your file, otherwise that wouldn't be an accurate record. If you have defaulted, that 'default' status will stay on your account until 6 years from the default date.

If you pay off everything you owe, it will say settled. If you only pay some, it will say partially settled (despite that being 'it' between you and the credit company)

I believe all info stays on your account for 6 years. I have an old CC I closed that is listed as settled from 12/2008.

gunnapaul2

marliepanda wrote: »

How do you mean by 'clear them off'

They won't disappear from your file, otherwise that wouldn't be an accurate record. If you have defaulted, that 'default' status will stay on your account until 6 years from the default date.

If you pay off everything you owe, it will say settled. If you only pay some, it will say partially settled (despite that being 'it' between you and the credit company)

I believe all info stays on your account for 6 years. I have an old CC I closed that is listed as settled from 12/2008.

Ok, sounds reasonable. What I'm really trying to find out is why I only have two out of five credit files showing on my report and if I were to pay just these two off would this settle all my debts showing on my credit report. It's a bit confusing, Cabot themselves said only two are on my credit report and these are the two that would be shown as partially settled, so therefore if the other three aren't even on there there's no point in me paying them off, saving myself around £1500.

marliepanda

Have you checked all 3 credit agencies? Sometimes not all things show on all three.

gunnapaul2

I've got two out of three at the moment, just waiting for Experian to send me my login details in the post so I can view the £2 report.

gunnapaul2

Ok so just to update, I paid Cabot the outstanding debts that were showing on my credit report, this has now been removed and I now have no outstanding debts showing on my report, according to Noddle. I do have other outstanding debts, but they aren't present on my credit report and haven't been for some time.

Cabot have told me the other debts I failed to pay off are not present on my credit report, I have checked three different ones (including Equifax, Noddle and Checkmyfile) and none of them show any other debts. Does this mean I don't actually have to pay off the remaining debts as it will not affect my credit score? Or are they somehow hidden but still affecting me?

My credit score doesn't seem to have improved since paying off the showing debts with Cabot, is this some sort of delay or am I still being judged on the fact I didn't pay them when I supposed to? I was hoping this would start to improve things, will this just take time to prove I can be trusted again?

Regards.

sourcrates

I'm afraid "checkmyfile" use Noddle, if you check the small print it tells you.:(


You still need to check Experian, which many lenders use !!