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F&F Showing 6 years from settlement date?!
Born_Free_2
Posts: 10 Forumite
Hi All,
Long time lurker here...
My OH was talking to a DCA last night and was in the process of agreeing a full and final figure to pay the balance off. The chap on the phone agreed the figure but with a condition I've not heard of before, the partially satisfied mark will stay on her credit file for 6 years from the settlement date (this account defaulted 4 years ago!) Is this correct, I assumed this was just a blatant lie by the DCA to extract the full balance so has something changed?
As far as I'm aware a defaulted account drops off the credit file after 6 years no matter what happens.
Clarification would be great before we go back to confront them.
Long time lurker here...
My OH was talking to a DCA last night and was in the process of agreeing a full and final figure to pay the balance off. The chap on the phone agreed the figure but with a condition I've not heard of before, the partially satisfied mark will stay on her credit file for 6 years from the settlement date (this account defaulted 4 years ago!) Is this correct, I assumed this was just a blatant lie by the DCA to extract the full balance so has something changed?
As far as I'm aware a defaulted account drops off the credit file after 6 years no matter what happens.
Clarification would be great before we go back to confront them.
Born Free....Taxed to Death.
Save £12k in 2016 Challenge #159 £1,010.16/£12,000 (8.42%)
Save £12k in 2016 Challenge #159 £1,010.16/£12,000 (8.42%)
0
Comments
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http://www.consumeractiongroup.co.uk/forum/showthread.php?196012-Default-date-vs-Settlement-date
Bit of a grey area, personally I would just wait out the 2 years for it to drop off and not pay a penny.I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0 -
If the account wasn't defaulted it would.
As it was defaulted, the whole account, default, and every marker is removed 6 years from the default date.
NO EXCEPTIONS.
Quite literally nothing will remain to show the account ever existed. Certainly not a partial settlement marker.
The DCA employee is talking through his posterior in this case.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Thank you!
As suspected, I look forward to giving them a call myself later (said nobody ever, but in this case...:) )Born Free....Taxed to Death.
Save £12k in 2016 Challenge #159 £1,010.16/£12,000 (8.42%)0 -
Quite possible they will stand by their nonsense, but please be assured it is simply not true.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Candyapple wrote: »http://www.consumeractiongroup.co.uk/forum/showthread.php?196012-Default-date-vs-Settlement-date
Bit of a grey area, personally I would just wait out the 2 years for it to drop off and not pay a penny.
awful advice, you then could end up with a CCJ which which will extend the credit file problems0 -
Just a quick update for those interested, I spoke with the DCA last night (a different employee) and they confirmed that it was indeed incorrect to suggest the partially satisfied mark would remain on the credit file for 6 years from settlement date. Thanks for your replies.Born Free....Taxed to Death.
Save £12k in 2016 Challenge #159 £1,010.16/£12,000 (8.42%)0 -
At least 1 out of 2 got it right then.
Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
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