defaults on file but dated 2010 then nothing???

wanabedebtfree

I have had a debt management plan since 2009. My file shows where they took over and my accounts went into defaults. But then there is nothing no up to date boxes. The defaults are dated 2009 and 2010.just a few boxes then blank. Does this mean i am now currently not defaulting??( I have never missed payments to my dmp). And does it mean they will drop off 6 years from 2010?? I am just about to pay them all off completely. Will i be clear 6 years from now or 2010??
Thanks

CKhalvashi

6 years from 2010.

A default will never be re-applied.

fermi

Yes, the account and default will drop off 6 years from the original default date. No matter what.

Is the outstanding balance on these accounts being updated to show it reducing? I assume not?

wanabedebtfree

Yippyyyy this is great news! The amounts shown by equifax are the starting balances when i began the debt plan and then another box to show current balance. Along with various boxes that are blank. Thank you so much for replying. So im right in thinking i can easily have quite faultless credit if i pay off debts now, get a card pay on time etc by 2016? Im assuming itll then be super easy to get a mortgage? First time buyer!😕

fermi

Once the account drop off 6 years after the initial default date, anyone checking your report will not see any evidence the defaulted accounts ever existed, so basically yes. Only people who will know will be the lenders who defaulted you.

Whether the translates into easy to get a mortgage is another matter.

Depends on the history that is still there.

Have a feeling some lenders may also ask you if you have previously defaulted on anything? If they do the legally you would need to say, despite it not being on your report.

wanabedebtfree

Thank you. This has litterally made my day!!

fermi

Please see my edit above though.

wanabedebtfree

Fair enough. I just really want it to be possible. And not dismal!! Thats cool with me