Old partial settlement not appearing on report but causing trouble anyway

holypocketsbatman

Hi all,

I'm having a bit of trouble: I had a Citibank credit card which I settled in 2011. It has never shown up on my credit report. I'm currently applying for a mortgage and a couple of banks have turned me down saying they found a default. When I asked Experian to look into it, the discovered that this citicard is showing as default, but is only showing up when people dig, not on my normal credit report.

I called citibank and they said they should have updated it to say 'partial settlement' but haven't so it's showing 'default'. They say they will update it but that if I pay the remaining balance, which isn't too much but more than I'd like to pay for no reason, then they'll mark it as 'satisfied'

My questions then are: Will have 'satisfied' there make a big difference for my credit file, or will the fact it went into default just overpower anything good, and can I trust them to actually do that? They've made the offer over the phone and are offering to send e-mail confirmation once it's done, but I'm not sure.

Thank you all you wonderful people for any advice you can give.

A

Tixy

Hi

. When I asked Experian to look into it, the discovered that this citicard is showing as default, but is only showing up when people dig, not on my normal credit report.

That is odd and what they have told you really doesn't seem to make any sense. Potential lenders can only see the same information that you can see. There is only a 'normal' credit report.

Have you checked your credit files will the other 2 agencies? are you sure its not appearing on one of those but not on experian - as that would make more sense?

I'd get to the bottom of where it is showing and what is showing (what default date, what balance) before you make any payment.

A fully satisfied default is arguably better than a partially satisfied default. But the fact that there is a default at all is going to be a big negative.