settled account added to credit report

jetihw

Hi,

I've recently taken quite the interest in my credit report as i am getting older and contemplating mortgages etc.

As a younger lad i made some mistakes, i ended up having 3 mobile phone contracts over a short period of time which on my income at that time i couldn't afford, as such payments lapsed and the outstanding balance were assigned to a debt collector. I have paid off all 3 of the debts and none of the debts were reduced.

2 of the contracts have left defaults on my account which are in a "satisfied" state, those will be off of my file within 18 months based on the 6 year expiry.

1 of the contacts never showed on my account as a default, instead a debt collector found me and informed me of this debt which i promptly paid.

however looking at my report they've added the following:
an entry marked as Satisfactory, balanced settled, and a settlement date of 2011.

Is this normal? i would have expected a default based on the date i defaulted which would mean i guess within the next 2 years my file would be clear, instead i will be stuck with this settlement until mid 2017.

Also do these settlements adversely effect your credit report?

This is all new to be so if the question seems silly i apologise .

Thanks

rizla_king

Is there anything on the file to indicate that you were in arrears or left the debt unpaid for a significant time? If not then it's just another settled account, which could well be positive rather than negative.

jetihw

Thanks for the reply.

No nothing showing any outstanding debt, credit limit is £0 and there are two entries, a U and an O, both with £0 under them.

it is a green entry on my file whilst the defaults are red, so if its possibly positive then I've nothing worry about.

I'll refocus my energy on finally clearing my credit card.

Thanks again for the reply