Debt collection agency

Moo6125

Hi, any help appreciated!

I looked at my credit file and I have a default that arrow ltd have put on there regarding a debt that was from an old hsbc overdraft. This has since been sold to various dca and is now with Moorcroft. I want to pay my balance in full but in exchange have the default removed from my credit file completely as I want to apply for a mortgage (long shot I know) Will Moorcroft be able to do this or do I need to write to Arrow as they were the ones who put the default on the file?
Thank you

Superscrooge

Moo6125 wrote: »

Hi, any help appreciated!

I looked at my credit file and I have a default that arrow ltd have put on there regarding a debt that was from an old hsbc overdraft. This has since been sold to various dca and is now with Moorcroft. I want to pay my balance in full but in exchange have the default removed from my credit file completely as I want to apply for a mortgage (long shot I know) Will Moorcroft be able to do this or do I need to write to Arrow as they were the ones who put the default on the file?
Thank you

Credit Providers rely on Credit History being an accurate record as to whether you have kept to credit agreements or failed to pay back money you borrowed.

If you could just default on the debt and then pay it back several months or years later and have all trace of it removed. Credit providers would have no idea whether you were a good or bad credit risk.

So I think it unlikely the default would be removed, But if you paid, it would at least be shown as settled, which might be important if you are looking to apply for a mortgage in the future.