debt showing as settled?

worn_out_mum

Hello, I'm new to posting but I've been following your advice for a couple of months and I'm hoping someone can help me understand something on my credit report.

Firstly, My husband and I have been on a DMP since Jan '12 (due to redundancy and ill health we couldn't keep up our original repayments) but we have made every DMP payment since it was set up.

Anyway, I've checked my experian credit report today and it's showing my Santander loan that's included in my DMP as settled, amount owing £0. As far as I was aware I still had about £6,500 left to pay on it.

Has this happened to anyone else? What does it mean? What do I do?

Sorry if I sound a bit clueless but we've only just started to look at our debts and I'm 7 months pregnant so baby brain is really slowing my thinking down!

Thank you.

fermi

Most common reason for that would be if the account was being sold off to a debt buyer collector. The original record on your credit file can quite often show as that when this is being done.

Best thing would be to check what the status of the account is with Santander.

worn_out_mum

Thank you Fermi for replying, would the debt collection agency show on the report?
The only things showing are my defaulted overdraft with Santander, my water bill, which has always been paid on time, in full and my current account with the Co-op which doesn't have an overdraft and the settled Santander loan.

I've checked Noddle too, which only shows the overdraft and my Co-op current account.

fermi

The debt collection company may show on the report eventually. Can take a while for the file/details to be passed over etc.