Defaulted accounts no longer on credit file?

Determined89

I have been paying off my defaulted accounts, and I cleared one fully yesterday and the next will be gone in two months. How come these have disappeared and what does this mean?

Thanks! 

sourcrates

Defaulted accounts stay on your credit file for 6 years, after which they drop off naturally, regardless of what you do.

Determined89

sourcrates said:

Defaulted accounts stay on your credit file for 6 years, after which they drop off naturally, regardless of what you do.

I am continuing to pay the remaining balance, but there is no trace of it to show it has been paid. I am guessing, as it is no longer there, that it doesn't make a blind bit of difference as to how it's paid off now as it's not showing the remaining balance? I wasn't expecting them to just vanish with an outstanding balance. At least I only have two payments left so doesn't really matter! So glad to see the back of them. Finally. 

[Deleted User]

The rule is 6 years from default it disappears, doesn't matter whether paid or not

macman

It's better for it to not be there, than to be there showing as satisfied.

MrFrugalFever

Be sure to check the CRA’s directly as opposed to the brokers that represent them (such as Clearscore/Credit Karma). You can obtain Statutory credit reports for free quite easily for all 3 CRA’s to confirm information contained.

[Deleted User]

MrFrugalFever said:

Be sure to check the CRA’s directly as opposed to the brokers that represent them (such as Clearscore/Credit Karma). You can obtain Statutory credit reports for free quite easily for all 3 CRA’s to confirm information contained.

Clear Score and Credit Karma plus MSE Credit Club are not really brokers per se, they offer a free front end to the CRAs, you don't need to use the statutory reports unless desperate for an immediate report - the data on the free sites is the same data as on the free report just usually a little behind

MrFrugalFever

Deleted_User said:

MrFrugalFever said:

Be sure to check the CRA’s directly as opposed to the brokers that represent them (such as Clearscore/Credit Karma). You can obtain Statutory credit reports for free quite easily for all 3 CRA’s to confirm information contained.

Clear Score and Credit Karma plus MSE Credit Club are not really brokers per se, they offer a free front end to the CRAs, you don't need to use the statutory reports unless desperate for an immediate report - the data on the free sites is the same data as on the free report just usually a little behind

Yes you are right, although at the moment Clearscore is massively behind for me, so much so that I would definitely request a stat report with equifax. It’s free and pretty quick/easy to do for both equifax and Transunion - Experian is a bit of a faff though.

Determined89

Thanks all!