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Can a written off loan be reopened again?
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[Deleted User]
Posts: 0 Newbie
Hi sorry if that's a silly question but I was wondering if a company decides to write off a loan, can they change their mind and reopen it again?
Also how long does the status of a "written off" loan stay on a credit file. Thanks for any response
Also how long does the status of a "written off" loan stay on a credit file. Thanks for any response
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If it's truly written off, then the loan doesn't exist. But it's an accountancy treatment which generally takes place long after any hope of the loan being paid has gone and normally long after the account has left your files.
What exactly is the status of the loan - or what have you been told?
An account will appear on your files for six years after default (or paid off if not defaulted).0 -
If you can give us a run down of the circumstances, then the advice will be more tailored.
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