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time default stays

Hi

I have some debts that I am trying to clear. I went onto a debt management plan in 2010 after not being able to afford the repayments.

I have checked one of my reports today and it is only showing one credit card that I am paying. I still am paying 5 other debt companies.

I cant understand what this means. Do the defaults fall off after 6 years even if you still are paying them?

thanks

Comments

  • System
    System Posts: 178,365 Community Admin
    10,000 Posts Photogenic Name Dropper
    Yep, the default is registered on a certain date and 6 years later it disappears.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • XYZ1000
    XYZ1000 Posts: 235 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Thanks for your reply that's good news, it's feels amazing... still got lots of debt to pay though!

    I have another question ... I just wondered what happens if I ask to pay a settlement figure, there would be now where for the company to add only partly settles is that correct?
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