Advice with defaults

treacle81

Hi,
back in 2019 I was off work with an injury and defaulted on 3 credit cards. These will be off my history October 25 and January 26 and February 26. 

October 25- balance £3800 , pay £45 per month
January 26-balance £7200, pay £76 per month.
February 26- balance £8100, pay £82 per month.
what happens when these fall off my credit history? Do I need to keep paying them and will they keep chasing me or can they reapply to have them kept on my record? Would I be better off making them an offer to close them out, if so what would be a realistic amount they would accept?

many Thanks 

fatbelly

Once they are gone from your credit record, they are not coming back.

The whole entry is removed 6 years from when defaulted or settled, whichever happens sooner.

Apart from that, no difference. You still owe the money. Continue paying them if you want, offer a settlement if you can.

Rob5342

If you want to make a settlement offer then make a cca request first. If they can't produce that then you can simply stop paying. 

treacle81

If they are no longer on your credit report then what can they actually do to get you to continue paying or settle? 

treacle81

Rob5342 said:

If you want to make a settlement offer then make a cca request first. If they can't produce that then you can simply stop paying. 

Is there any percentage of the remaining debt that is normally accepted?

EssexHebridean

Start low for F&F’s - the way it usually works is you make a low ball offer, they come back and say “absolutely not - we won’t accept less than X” then a negotiation takes place to meet somewhere in the middle.

sourcrates

treacle81 said:

If they are no longer on your credit report then what can they actually do to get you to continue paying or settle? 

Although usually a last resort, they can take legal action against you, that may result in them obtaining a CCJ which will stay on your credit file a further 6 years and make obtaining further credit nigh on impossible.

Whether a debt appears on your credit file or not has no bearing whatsoever on your liability for that debt.