Barclays default

AJ_Jezzy

Perhaps a silly question.

I had a Barclays credit card that went into default after setting up a plan with a debt management company to consolidate the debt. I paid the DMC on time but they kept paying Barclaycard late. I believe this is what’s caused this may have caused missed payments to flag and the default To flag on my credit score and on the account. If so, what do I do? 

Any help would be great. 

Thanks,

A

[Deleted User]

Nothing. It defaulted as soon as you went on to the DMP and will show a monthly default status.

You just need to keep paying it off.

AJ_Jezzy

Oh...Okay 

I paid it off a few years ago will it stay on the credit report for a while still? 

[Deleted User]

6 years from default.

MinuteNoodles

As above. You default if you don't pay the minimum payment as outlined in the original contract you signed. If you're on a DMP you'd not be making the minimum payments. Any entry in your credit record stays there for 6 years due to a thing called Statute of Limitations. Without that statute it could have remained on indefinitely. Just as an aside just because it no longer appears on the credit file and has dropped off after 6 years it doesn't prevent that creditor from keeping a record and taking it into account for future borrowing such as a mortgage application with Barclays although the fact you paid it off will work in your favour.

A belated congrats on getting out of the DMP.