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Six Years On Now....
teddyclown
Posts: 24 Forumite
Just a quick question. Six years have elapsed since I was in a mess and defaulted on credit cards. They have now dropped off my credit file, although I am still paying them off via PayPlan. Lowell have contacted me with an offer of a 70% discount to settle over three payments and I want to take advantage of this.
My question is, if I do this, will it pop back onto my credit file as partially settled? Would I be better to just keep plodding along with PayPlan if this avoids my now much better credit rating from being trashed again?
My question is, if I do this, will it pop back onto my credit file as partially settled? Would I be better to just keep plodding along with PayPlan if this avoids my now much better credit rating from being trashed again?
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Comments
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No, once it's dropped off it stays off (unless they get a ccj which creates a fresh entry)
An opening offer of 30% is very good - are you sure this one is enforceable? Do you wan to try to push them lower?1 -
No if the defaults have gone then they can no longer record anything on the account - go for it!"You've been reading SOS when it's just your clock reading 5:05 "0
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Thank you for the replies, I might try to push them lower, but I'm definitely going to go for it
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Now the default has dropped off it won't reappear. I would go for this as the discount is so big. Means one of the debts is gone then. How much longer until the DMP is finished?I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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