Old payday loan debt on credit file

Pikester1983

Hello,

Back in 2012 I got into a mess with payday loans that spiralled out of control. I managed to get help with sorting them out but didn't realise there was one still not settled. It is on my credit file but the company that its named under isn't the same as what I took it out for. The payday loan was with 247moneybox.com but on my credit file it says active securities ltd. I am not sure what step to take but need to settle the debt as it is stil on my file. Does anyone know what I need to do or is anyone else in a similar situation.

Many thanks

System

The debt has most likely been sold on. You have three options:

1) If you don't want to pay it you can send them a prove it letter and they have to prove you owe the money, they have to be able to provide a copy of the original agreement with the original lender. If they can't then the debt is not enforceable and the record needs to be removed.

2) Make sure that they bought the debt from the lender and pay it. It will be shown as satisfied but the default entry will still remain on file.

3) If it is coming up to 6 years old from the date of entry you can do nothing and it'll disappear from your file if you don't acknowledge it, ie don't reply to any calls/emails/letters.

[Deleted User]

You can contact them to settle it.

It will drop off your file 6 years from default.

antrobus

Pikester1983 wrote: »

.The payday loan was with 247moneybox.com but on my credit file it says active securities ltd.

247Moneybox.com is a trading name of Active Securities Limited
https://www.247moneybox.com/

Brains64

This company (Active Securities Limited trading as 247 Moneybox) has now gone into administration. I had a few loans with them a long time back, which I settled but I often got emails from them asking me to take out another loan, so today I checked in with my old account details just out of curiosity to see what their website looks like now and I got a message saying that the administrators have been appointed for them. Bottom line....another one bites the dust.