Getting myself back on track

Dangerousmouse

Hi there,

I’ve made mistakes in the past but my situation has improved over the past couple of years and having recently found out about some of the consequences of past me, I’m trading to get myself financially sorted.

I have an account on my profile that is reported as defaulted with a default date of 27.06.2012

Is my understanding correct that come 28.02.2018 this account will ‘drop off’ of my credit report?

Please advise if yes/no and the effect of whichever happens.

Thanks.

sourcrates

27/06/2018 it will automatically be expunged from your credit file.

Although credit reference agencies can take time to catch up and update your file, some are quicker than others.

Dangerousmouse

sourcrates wrote: »

27/06/2018 it will automatically be expunged from your credit file.

Although credit reference agencies can take time to catch up and update your file, some are quicker than others.

So, delays aside, it wouldn’t be visible to a search even if a balance was outstanding?

sourcrates

Dangerousmouse wrote: »

So, delays aside, it wouldn’t be visible to a search even if a balance was outstanding?

No, once it’s gone, it’s gone, even if a balance remains on the account.

Dangerousmouse

I!!!8217;m still responsible for the outstanding balance though?

How does that work? Example, I!!!8217;m making monthly payments towards the balance. The account drops off of my credit file in June but there is still an agreement in place for the balance? I presume I continue paying it?