We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Default question - Marbles CC
Options
ryan92
Posts: 607 Forumite
Hey there,
I am in a Protected Trust Deed at the moment and my Marbles CC was sold to Link during the Trust Deed.
On my Credit Report, I have the Marbles CC showing as a Default with a £0 balance and now a new seperate entry from Link for the value of the Marbles card also showing as a Default. Essentially, I now have 2 Defaults for the same debt if that makes sense.
Is this normal practice or should the original Marbles account be showing as settled?
I am in a Protected Trust Deed at the moment and my Marbles CC was sold to Link during the Trust Deed.
On my Credit Report, I have the Marbles CC showing as a Default with a £0 balance and now a new seperate entry from Link for the value of the Marbles card also showing as a Default. Essentially, I now have 2 Defaults for the same debt if that makes sense.
Is this normal practice or should the original Marbles account be showing as settled?
Currently in a Protected Trust Deed - 23 payments until DEBT FREE - February 2027
0
Comments
-
No you don`t have two defaults, a debt can only default once, its just the one default, but with a status update entry added from the new owner, Link.
The Marbles entry should show a zero balance, and should show the date the account defaulted.
The Link entry, should show any outstanding balance, and the same date of default.
Both entries will automatically drop off your file on the 6th anniversary, as per normal, so its all good.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
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.8K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.6K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards