Delete payday loans from your file after the company goes bust. Does anyone know how?

Thrugelmir

What you need to do is come clean with your partner. Be the easiest and simplest option. 

Mortgageafterpdl

Camelot/Thrugelmir, agree with both. Honesty and a good broker. I do know it. 
It's just I'd heard that it's possible to get things removed if the company in question has gone under. It was just a question to see if anyone knew about it or had any experience of it, that's all.

SpreadableToast

Mortgageafterpdl said:

Fortunately I managed to pay each of these off without issues, late payments or defaults. This itself ensures my "history" remained excellent, as I never missed or defaulted on any borrowing. That doesn't mean they were affordable, or that it was responsible of the lenders to provide me with extortionate interest loans.

If you paid them off, without issues, late payments or defaults they were, by definition, affordable.

DCFC79

Mortgageafterpdl said:

Camelot/Thrugelmir, agree with both. Honesty and a good broker. I do know it. 
It's just I'd heard that it's possible to get things removed if the company in question has gone under. It was just a question to see if anyone knew about it or had any experience of it, that's all.

I don't believe the history should be changed, it's a true reflection of how you ran the financial side of things.

HummingBird76

You absolutely have to tell your partner!  Because he is going to find out when you start applying for mortgages.  I think that in itself will take a weight off you.  You can then seek a broker who can help you, and arm them with ALL the facts.

MinuteNoodles

Mortgageafterpdl said:

I continually read (including on MSE) that you can ask these companies to remove the account from your file if the lender has gone into administration/closed.

I've also seen a post on here about others getting them deleted without any attempt to contact etc. Just multiple PDL's falling off the reports early. That would be a dream come true but as it's the real world, I just need to understand how I can address at least the couple that have gone bust.

You can't get them removed just because the lender has gone bust. The record is an accurate representation of the facts at the time and the company no longer existing is neither here nor there. You'll find lots of people asking but the answer is the same. You can't get them deleted without any attempt to contact and the only way to do that would be to put in and win a claim for mis-selling which will be hard to do with a loan company who no longer exist.

cymruchris

Just to support the above, it might be a time of life when you had some difficulties, that's understood and appreciated, many of us have had the same, myself included. It is an accurate record of events, and would only be removed as a result of a successful mis-selling claim, but from what you've said I don't think that's likely to happen. The older the data gets, the less important it is on your files, however with mortgage lenders if there's a whiff of a pay day loan on your credit report, it can be more difficult to obtain a decent provider and a decent rate. You'd best off talk to a specialist broker who deals in adverse credit to see what deals might be open to you.