Old Default Not Settled

weejamiebee

Hi - Newbie here needing advice!

I've recently set up Experian to get my credit on track as hoping to apply for a mortgage in the next year.

Basically I have a Fair 854 score and the negatives include some defaults on my account - three in total.

Two of these are settled and will be six years old in January 2014 - so should be removed.

The third is apparently still outstanding and still has an old address of mines so I've never known about it. It's with CAPQUEST and only for £147.

This is due to be six years old in July 2014.

My question is... will this still be removed even if the debt is not paid? Is there any difference to my credit report whether or not I pay this debt? Bearing in mind I don't even know what it's for!

My friends seem to think that once it hits six years it may disappear but still affects your score negatively... I've gotten very confused googling forums and reading about statute barrings etc etc !!

Please advise !!

rizla_king

weejamiebee wrote: »

My question is... will this still be removed even if the debt is not paid?

Yes

weejamiebee wrote: »

Is there any difference to my credit report whether or not I pay this debt? Bearing in mind I don't even know what it's for!

No. Or so small that it makes no practical difference.

weejamiebee wrote: »

My friends seem to think that once it hits six years it may disappear but still affects your score negatively... I

No. Your friend is talking nonsense.

Experian_company_representative

Agree, although on the second point some lenders might have a policy of not lending to people with outstanding defaults.

James