Credit report says settled but new company written

KimmiLou22

Hi all 

i have an car finance debt from 2022, we havent set up a payment plan and have only ever had statements from Moneybarn no default! 

I check our credit report regularly and in August 2024 it showed Settled at £0 

i have just had a letter from Link Financial that Moneybarn had assigned the debt to them and a letter from Moneybarn saying they have sold the debt 

What shall i do next? 

fatbelly

It's up to you.

You haven't been paying Moneybarn. Do you want to make a monthly payment to Link? Or a lump sum settlement? Or continue to ignore?

ManyWays

What are the rest of your finances like, do you have other problem debts?
Did you think the car finance from Moneybarn was very hard to pay from the beginning, if you did then you should make an affordability complaint to them as soon as possible.

KimmiLou22

what would happen if i continued to ignore? will link be added to my credit report?

RAS

Yes:..................

Grumpelstiltskin

OP's  other thread.

Really need some help, no idea where to start. - Page 2 — MoneySavingExpert Forum

fatbelly

Yes, Link will add a new entry but the default date should be carried over from the old Moneybarn entry

KimmiLou22

so Money barn will show as Settled and Link will show as Default 

if i then make an arrangment to pay will it drop off my credit report 6 years after the default date?

sourcrates

KimmiLou22 said:

so Money barn will show as Settled and Link will show as Default 

if i then make an arrangment to pay will it drop off my credit report 6 years after the default date?

Yes, correct.

Also once a new thread is started, its best for all concerned to stick with that thread, rather than open multiple new ones, thanks.