Default removed from credit report earlier than expected

Artybee74

A personal loan, originally with a bank, was sold to a debt collector who have sent various letters including a settlement offer of 90% discount (10% to pay). The date of default according to my Transunion report was 6th November 2018, so i was expecting it to drop off in about three weeks and become statute barred. 

I've checked my report today, and the account has already been removed, along with a cheery message saying "your score has improved because you no longer have a default on your record".

Why would it be removed before the previously recorded date of default? 

Thanks for your advice.

sourcrates

Don`t celebrate just yet, you say the debt has been sold, was this fairly recently?

Its common when a debt is sold, for the entry from the original lender to be removed, and then replaced by reporting from the new owner, there can be a gap of a few months in between this happening.

The 6th November 2018 still stands as the default date, so don`t do anything silly.

Artybee74

Thank you.

I'm definitely not celebrating yet. I was trying to get some evidence together regarding dates of last payments, in case I receive a letter of claim in the next few weeks.

The debt was purchased by Lowell about 18 months ago. I understand from discussions here that they don't sell accounts further along the chain, and tend to keep them. 

So thats why I was surprised to see it gone from Transunion. It still shows on Equifax.

sourcrates

No idea why its disappeared early then, another 4 weeks and you will be in the clear, hopefully.