Closed accounts with a not reported/unknown/unclassified status

DJChris

Hi, my partner's credit report and shows a number of closed accounts with a balance on when they were closed. Some show a status of settled, so we presume these are OK, but some show a status of unclassified/unknown and 'not reported., mostly dating back a number of years, with a small balance stated when closed (eg closed on 01/03/2016 with a balance of £295) Do these still need to be paid off or not? Furthermore one of them says 'reported until October 2021' - does this mean it'll drop of the report at that point? My partner can't remember what they were for as most date back to 2015/2016 and are for relatively small amounts, between £43 and £295. Have scoured the internet but haven't really found a conclusive answer! Thanks for any help, we are both trying to sort our debts but clearly don't want to pay anymore than is neccessary.

sourcrates

DJChris said:

Hi, my partner's credit report shows a number of closed accounts with a balance on when they were closed. Do these still need to be paid off or not? 

Well that`s entirely up to you isn`t it, old debts with small balances tend to be side-lined after a while, which means they may go unreported, its just not worth the cost of chasing them, verses what they may recover from you.

Are they defaulted ? 

Usually they will be removed automatically from your credit file after 6 years anyway.
If these are not been chased, just let time do its thing, as paying them won`t remove the entry.

DJChris

Thanks sourcrates. 
Yes some show a default  - for example default in May 2015, then unclassified/unknown since then until Aug 16, then no further status updates. 
Do they get removed 6 years from the date of default? Or is it 6 years since the last reported status do you know?
Ultimately my partner is worried she may get  ccj on one of these older defaults - is that possible/likely?  She hasn't been chased for any of these seemingly dormant debts for years. But if they could still be awarded a ccj she would probably want to do either a DMP or offer a final settlement. On that note, would a 50% offer usually be accepted?
 

sourcrates

Court action after all this time is unlikely, but can never be disregarded, although plenty of warning should be given if they comply with the civil procedure rules.

Most things are removed from your file after 6 years, either from date of default, and/or last payment.

You don`t get awarded a CCJ, the creditor must go through the court process, it involves various stages, and you have the opportunity to defend yourself, ask for proof of the debts etc, its not a forgone conclusion.

I`d wait and see what happens, and take action if necessary.