We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Defaulted but now arranging to pay
doc1985
Posts: 29 Forumite
Hi Guys
Been a long time since i was last one here lol.
Im hoping you can help me please, ive looked but cant seem to find the answer. I defaulted on a relatively large loan back in 2011 (£7000), then moved home, etc etc and never heard anything from it, until now. I got a letter from 1st credit and i was completely honest and rang them and have arranged a small payment plan to be reviewed in 6 months.
My question is, this was due to drop off my credit file in 2 years, but im worried that now i have started to pay it back (which could take years) is this going to now stay on my file after 2017 as an 'Arrangement to pay' or will this infact drop off still as it was actually defaulted.
Many thanks for your help.
Been a long time since i was last one here lol.
Im hoping you can help me please, ive looked but cant seem to find the answer. I defaulted on a relatively large loan back in 2011 (£7000), then moved home, etc etc and never heard anything from it, until now. I got a letter from 1st credit and i was completely honest and rang them and have arranged a small payment plan to be reviewed in 6 months.
My question is, this was due to drop off my credit file in 2 years, but im worried that now i have started to pay it back (which could take years) is this going to now stay on my file after 2017 as an 'Arrangement to pay' or will this infact drop off still as it was actually defaulted.
Many thanks for your help.
0
Comments
-
It will still drop off your file leaving no trace 6 years from the default.
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 -
Oh thats great news thank you :-)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards