How do debts being paid off show on your credit file

MaximusPrimal

May sound like a dumb question but I am paying off some debts which are on my credit file after [finally] doing somehting about them which I accept I should have done some time ago. Payment plans are agreed and inplace with Lowell anbd Caboot, with payments having now started and showing when I check the accounts on their respective websites. In that sense all of us are happy.

Will the debts still show as defaults each month as I pay them off over the course of the next couple of years or do they show as something else on my credit file to show that I am paying them off and dealing with them?

I believe when they are paid off they will show as Satisfied/settled and there effectivly come off (although I know they will show for 6 years aferwards).

Is that correct?

[Deleted User]

They should show as monthly defaults.

They will drop off 6 years after the initial default.

Sparx

If the account is in default already, it will show default every month but the balance declining. Once settled it will update to settled.

However lenders can see the history of the account was in default historically before it was settled and the original default date...

Either way, 6 years from the Default date (not Settled date) they will drop off your credit file.