Help me please!!

Reillyccfc84

Hi any help with this would be much appreciated, I have a default on my credit file and it was from December 2015 I had a car on finance and it was written off and not my fault someone crashed into me. I didn't know about gap insurance was never even told it existed till after my car was written off. If I had this gap insurance I would of never had this default as the gap insurance would have paid the short fall i am left with. I have contacted the people who now have the debt and asked them if I pay what's owning will they take the default off as a good will gesture. They have said no they can't do this. If I pay it the default stays on and they will put satisfied next to the default. I really would like this default removed is this possible any help again much appreciated. Thank.

[Deleted User]

They're under no obligation to remove the default, so there's nothing you can do. Your credit file is a reflection of how you manage your credit.

But its impact will diminish over time.

Reillyccfc84

Thanks for you fast response with help to this. So there is no way to get the default removed I'm just going to have to wait till another 4 years for it to drop off? And is it better for me to pay it all off so it says satisfied next to the default if it does have to stay. Again any help much appreciated thanks in advance.

jonesMUFCforever

You can pay the amount owing and the default will be shown as settled but it will remain on your credit files for 6 years.

Reillyccfc84

Thanks again for a response. I have Been told my the people who have the debt now that if I pay the full amount they won't put settled that they can only put satisfied?

jonesMUFCforever

Same thing.