credit file advice from Experian

fermi

Yes.

neil9417

so what happens? can you clarify both options.......if paid in full and settled or not?

fermi

In both cases the default and account would dropped from the credit report. As far as anyone checking your report is concerned, they would quite literally see no trace that the account or default ever existed.

The only way it could affect your credit report after that is if the creditor succeeded in getting a CCJ on the debt which you did not pay within one month of the judgement date. That wouldn't cause the account or default to come back in the credit account section of your report, but would show as a CCJ in the public record section. Assuming you don't allow that to happen, that should not be a worry.

neil9417

Sorry to be a little dim, but could you clarify the last paragraph.

fermi

CCJ = County Court Judgement. If the creditor takes you to court over an unsettled debt.

That is a separate entry type on credit reports. It the only way a debt could legitimately come back on your credit report once a defaulted account has dropped off.

Unlikely to happen, especially if you make sure you avoid the possibility, but you should be aware of that as, sometimes people automatically think that if the account is gone off your credit report then that is it and there is nothing they can do if you don't pay. Sometimes a CCJ might be a possibility, sometimes it won't.

neil9417

any hints or tips to make sure it doesn't? you've been a great help on this.

Experian_company_representative

Hi Neil9417,

A default will always come off your report six years after the default date. This is regardless of whether account has been paid or not. Paying the account will not make change the date that it comes off in anyway.

As Fermi and Rizla King have said a lender may still take the debt to court and a County Court Judgment be recorded but this would be is an entirely separate entry.

I'm sorry to hear that the advise that you received from Experian was not clear and I would like to investigate this for you. Please [EMAIL="uksocialsupport@experian.com"]email[/EMAIL] your details along with the time and date that you called and we can look into this further for you.

Kind Regards
Neil