Default On Credit File

MustStopSpending

I know I've bleeted on about this before but this will be the last time, I promise!

My other half defaulted on an account in Oct 2002. Has made no contact with the debt chasers although he has in the last month received a few letters off them, which he hasn't replied to.

The last letter is offering 35% off the debt and paying the final amount over three months. Which I think he should do, or maybe go for 50% off?

So here's the thing, if he makes no contact with them will it come off his credit file in Oct once the six years is up? Or if he takes full and final settlement will it come off his file in Oct as it will be settled?

At no point in the last six years has he contacted them so will gettig in touch open a whole new can of worms?

Thanks for your help.

headoutthesand

MustStopSpending wrote: »

My other half defaulted on an account in Oct 2002. Has made no contact with the debt chasers although he has in the last month received a few letters off them, which he hasn't replied to.
.

I'm not 100% sure about this but i think it only clears 6 years after it has shown as 'Settled'.

If the company are still chasing him/her for the debt then it is likely that the account is still live on the credit file and will only show as settled 6 years after she pays the agreed amount i.e. July 2013

Hope someone else replies to confirm/correct me.

xgingerx

Hi, you said he defauled in october 2002, so this will not come off his file until october 2008, not this year ? Im not advising u either way but if he did make full and final settlement, it would show on his file satisfied but would still come off next october settled or not.

MustStopSpending

I meant 2001 he defaulted!

headoutthesand

xgingerx wrote: »

Hi, you said he defauled in october 2002, so this will not come off his file until october 2008, not this year ? Im not advising u either way but if he did make full and final settlement, it would show on his file satisfied but would still come off next october settled or not.

I defaulted on a mobile phone and it didn't show as satisfied till i had paid the debt collectors. Luckily it has came off my file now.:j