Old Debt - Settlement

StevieJ

If an old debt does not appear on a credit file, does this mean it was originally defaulted, and dropped off file after six years. The reason I am asking is that friend has been on a DMP since around 2004 paying nominal payments. They now want to settle the debt but the debt company states that the debt will reappear on the file as partially/fully satisfied. Obviously she is confused how paying off a debt fully or partially will damage her current credit record. She can't remember if she originally received a default notice. Grateful for any help.

Nasqueron

If the debt was defaulted more than 6 years ago and has gone from all 3 CRAs, they cannot put it back on the file

If it is still reported on one or more of the agencies then it would be updated

StevieJ

I suppose the question is: 'If a debt is not reported by any of the three agencies, does that mean it was definitely defaulted'?

Nasqueron

If it's not reported it will have been defaulted and removed per the CRA / ICO rules 

Chances are the lender sold the debt on and marked it as settled and the buyer hasn't marked it since. They cannot put it back on again no assuming it's definitely not on any of them, the original default date in 2004 time cannot be reset to a new one.