Credit Score - If I set up a payment plan

WanderingDuck2020

So I have an outstanding debt with the Student Loans Company, I don’t believe their figure is correct but then that’s another story. Any way a debt collector has been in touch and is asking me to pay up. I really can’t be bothered for the hassle of disputing it, student finance don’t want to know as it has now been sent out of their hands so if I was to dispute it, it would be in court. - a route I really don’t want to go down.

so my question is, if I set up a payment plan with the debt collectors, will this show on my credit file? I’ve already checked it and nothing is on there, I’m guessing because the debt is with student finance.

If I set up a payment plan will this mark my file or would it already be marked by now if it was going to?

Thank you for any help!

Willing2Learn

Hi WanderingDuck2020 and welcome to the forum 

According to ClearScore:

Your student debt doesn’t appear on your credit report. But…

Since it’s not on your credit report, your student debt cannot affect your credit score. However, some lenders, particularly mortgage lenders, may ask about it as part of an affordability check.

https://www.clearscore.com/loans/guide-to-student-loan-repayment

WanderingDuck2020

What if I set up a payment agreement with a debt collection agency for the student loan debt, will the debt collection agency mark my file? Thanks.

WanderingDuck2020

Will my credit file be marked if I set up a payment plan with a DCA, it is not marked at the moment?

DCFC79

WanderingDuck2020 said:

Will my credit file be marked if I set up a payment plan with a DCA, it is not marked at the moment?

Same question you posted half hour before. Just a guess, based on what has been posted earlier, your student debt isnt reported to the agencies so it cant be defaulted if you were to set up a payment plan. 
Your score is only seen by you, your history is whats important.

WanderingDuck2020

If someone was to check my history then would a credit agreement/payment plan with a debt collector for a student loan debt be on there? I understand a student loan can’t be put on there but now it is a debt with a debt collection agency so if I set up a payment plan will people be able to see that I have a payment plan set up with a debt collector?

sourcrates

WanderingDuck2020 said:

If someone was to check my history then would a credit agreement/payment plan with a debt collector for a student loan debt be on there? I understand a student loan can’t be put on there but now it is a debt with a debt collection agency so if I set up a payment plan will people be able to see that I have a payment plan set up with a debt collector?

For the avoidance of further doubt, as you have asked four times now, NO, the debt will not show on your credit file under any circumstances, unless . . . . . . student loans take you to court and obtain a county court judgement against you, then it will appear on your credit file.

Under all other circumstances, it won`t be reported.

And, JFYI, only the owner of a debt can record payment history on a credit file, debt collectors usually only act on behalf of their clients, so cannot report on accounts they do not own, for Debt Purchasers, its different, as they have bought the debt, so are the legal owners, but as stated, student loans are never reported.

Thrugelmir

What's your concern? The liability and commitment will need to be disclosed when applying for any form of credit. Even if it's not on your file.