Checked credit report today MBNA DEBT GONE ???

PoloPonyHampshire

I checked my latest credit report out today and there is a large credit card debt missing. It was £11,500 with MBNA but its no no longer showing as a creditor what does that mean?

JKSandy

Do you mean a defaulted debt or just your accounts with them?

If it's defaulted it maybe they have sold it on and you will see a new account for the debt under the debt agency's name.

apollo_

That's very strange. So has MBNA disappeared entirely from your credit file?

PoloPonyHampshire

yes its in default, but there's nothing on the report ... I will keep my eyes on the report thank you. All the others are under debt collection agencies but still show the credit card company that the debt is with on the credit file

PoloPonyHampshire

Completely gone ....

jonesMUFCforever

Have you checked all of the CRA's?

fermi

Defaulted account drop off your reports completely 6 years after the recorded default, whether paid off or not.

Another possibility is that MBNA is selling it on, in which case it can disappear from your report for a while before it reappears under the name of the company that bought the debt.

PoloPonyHampshire

I am guessing then that its been sold on as I only stopped paying it around April last year so its not old enough to fall into the 6 year drop off period.
I plan to write to all my creditors to explain my financial situation but will leave MBNA in case they have written it off ... well we can live in hope eh? lol

PoloPonyHampshire

Just checked again and another has gone for OPUS !

mwarby

Almost certainly the debt will have been sold on(or is in process of being sold), but the buyer hasn't reported to the credit reference agency's yet.