After Default Date

BGM555

Hi
Looking for advice - I got several defaults which over the next few months are due to hit the six year time limit. When we got into difficulties as usual the CC companies sold off the debt to a debt collection agency whom I'm paying on a regular monthly basis.

My question is - What happens to the debt after the six years now its owned by the debt collection agency? Do I still pay them even though my record will be clear of the debt.Does the outstanding debt remain somewhere on my file but under a different client?

Secondly If the debt remains should I look to make a partial settlement prior to the drop off date in the hope that my credit file will improve.

Heard some companies would look to use the threat of CCJ to recover the debt.

[Deleted User]

You just continue paying until clear.

The default will fall off, but a CCJ would go back on for a further 6 years if they sought one.

BGM555

Thank you

So a partial payment would sound like a good Idea if possible?

[Deleted User]

Yes. It would avoid any further action.

BGM555

Thank you so much

Lastly - will the partial payment show on my file after the drop off date ie does it still remain for a period or is it a different type of agreement whereby its not within the realms of a " credit agreement" .

Not clear on how the older credit agreement / debt is perceived by creditors in the future. Even though I still own the money to "Someone" how is this viewed by creditors. No intention of ever having the commitment I did in the past just want to feel free of any bad credit history.

[Deleted User]

The whole account drop off 6 years from default.

Not paying debts never looks good, but the impact lessens over time, assuming you've improved your account management.