Old default on credit report

Xerocool42

Hi, I wonder if anyone can help with this?

I had a default dating from August 2009 that's been listed on a recent credit report. Although it was not for a large amount, I had moved and it took a while for it to be dealt with. Having been passed onto Lowell who I now have an ongoing payment plan with and looking to the future with a view to rebuilding my credit rating, I ask the following:

Will the default disappear as soon as the six year anniversary of the default passes, or does it remain until the end of the payment plan that started at a later date? How do I best go about dealing with this?

At this time, the six year anniversary of the original default has just passed (a few days ago), if the default will be removed how long will it be before the records are amended? Do I need to contact reference agencies myself or will it happen automatically?

I'm hoping to get a mortgage. Will an ongoing payment plan with a DCA affect my chances of obtaining a mortgage even if there's no default or arrangement appearing on my credit file. I am in a position to pay this debt off in full but I'm concerned in doing so that it may reappear as a satisfied default and consequently remain on record for a further six years.

Hazzinho

It'll drop off around the 6 year anniversary, give it a week or so then check your files. You may be asked to declare outstanding debts for you mortgage application and they'll see your payments coming out of your bank statements