Default & Loan now off credit file

bigbadwolf500

Hi
Looking for advice
I have 2 defaults and loans recently come off my credit file. I am still am still paying back a monthly amount. Now the loan is no longer on my file what powers to the debt recovery companies have to recover the debt / enforce the monthly repayments?

Clive_Woody

bigbadwolf500 wrote: »

Hi
Looking for advice
I have 2 defaults and loans recently come off my credit file. I am still am still paying back a monthly amount. Now the loan is no longer on my file what powers to the debt recovery companies have to recover the debt / enforce the monthly repayments?

When did you last make any payments towards the loans or acknowledge the debt?

bigbadwolf500

Still making the payments but loans no longer on my file

foxy-stoat

bigbadwolf500 wrote: »

Hi
what powers to the debt recovery companies have to recover the debt / enforce the monthly repayments?

The Law.

What were the original terms of the loan?

bigbadwolf500

Sorry my mistake. The loan defaul has yet to come off my file, the defaults were on credit cards

foxy-stoat

You need to pay what you owe, doesnt matter if they have been removed or not. If you default on the default then you will have another default.

bigbadwolf500

foxy-stoat wrote: »

You need to pay what you owe, doesnt matter if they have been removed or not. If you default on the default then you will have another default.

Pretty sure a a default can only be applied once to a debt

foxy-stoat

If you default on a default then you will be in double default - sounds terrible.

bigbadwolf500

foxy-stoat wrote: »

If you default on a default then you will be in double default - sounds terrible.

Yeah, sounds terrible! Good job it's not a thing. Thanks for your advice

[Deleted User]

If you stop paying you could be taken to court and get a CCJ - that would be on your file for 6 years. Just because the debt is not showing on your file anymore doesn't mean you can just stop paying.