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Default on my credit file
leonski
Posts: 4 Newbie
My debt with ratesetter was sold to a debt recovery firm of solicitors. I paid this company fully back a few years ago but I still have a default on my file that is negatively affecting my credit score. Is there anything I can do to remedy or mitigate this? I have a letter from the solicitors in question stating the debt was settled.
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Your credit score is meaningless, ignore it.leonski said:My debt with ratesetter was sold to a debt recovery firm of solicitors. I paid this company fully back a few years ago but I still have a default on my file that is negatively affecting my credit score. Is there anything I can do to remedy or mitigate this? I have a letter from the solicitors in question stating the debt was settled.
As for the default, it is correct that it should show that you defaulted, but it should show the debt as settled, does it?0 -
leonski said:My debt with ratesetter was sold to a debt recovery firm of solicitors. I paid this company fully back a few years ago but I still have a default on my file that is negatively affecting my credit score. Is there anything I can do to remedy or mitigate this? I have a letter from the solicitors in question stating the debt was settled.
As long as the debt is marked as 'settled' - then the default is an accurate record of events, and as such won't be removed until the 6th anniversary. It's the default that's damaging your access to credit - the score doesn't matter.
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It shows it as satisfied as I paid everything off eventually. Bit of a tricky spell during covid when everything went under.MattMattMattUK said:
Your credit score is meaningless, ignore it.leonski said:My debt with ratesetter was sold to a debt recovery firm of solicitors. I paid this company fully back a few years ago but I still have a default on my file that is negatively affecting my credit score. Is there anything I can do to remedy or mitigate this? I have a letter from the solicitors in question stating the debt was settled.
As for the default, it is correct that it should show that you defaulted, but it should show the debt as settled, does it?0 -
Defaults stay on file for 6 years, as explained above, settled, not settled, ignored whatever, doesn't matter.
Nothing removes them except time.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it 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.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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