Full balance or settlement closure

dobbollah

perhaps im being thick, if the default status disappears after 6 years, and then a year later i partially settle, how could they disappear at the same time as the default has already gone...?

downhillfast

dobbollah wrote: »

perhaps im being thick, if the default status disappears after 6 years, and then a year later i partially settle, how could they disappear at the same time as the default has already gone...?

To quote a very knowledgeble forum member who answered this very question a few months ago...

fermi wrote: »

If they had defaults recorded on your credit files more than 6 years ago, the accounts should not show on your files at all.

Defaulted accounts are removed completely from your credit files 6 years from the recorded default date. Everything about them is removed and nothing more is ever recorded, even if they are still being paid off. After that drop off there is no sign they exist or ever existed.

:beer:

dobbollah

thats awesome, so as soon as they 6 years is up......the poor records go.....and you can rebuild (even though you stull have to pay the debt boooo)

that being the case partial settlement all the way !!!!!!!!!

downhillfast

dobbollah wrote: »

thats awesome, so as soon as they 6 years is up......the poor records go.....and you can rebuild (even though you stull have to pay the debt boooo)

that being the case partial settlement all the way !!!!!!!!!

You got it!:T

But remember although the records are gone the agreement to not take out further credit until the DMP is ended still applies.

dobbollah

bad news is 2 of the accounts show late payment, 2 show default (which should fall off next december)