Approaching a default

Grec

Hi all,

I had some health issues a few years back and ended up defaulting on a CC debt. I tried to work with them but alas it went to a debt buyer.

I have a payment plan with them and paying it off at a good pace. Is it right that they are still marking each month as a default? I am on year 3 of the debt on my credit file. 

Surely it should show as ARRANGEMENT TO PAY? Not default? 

Currently with Moorcroft and they're quite annoying to deal with.

Just curious more than anything what should be happening with my credit file as its perfect outside of this one default that is holding me in the "POOR" section.

fatbelly

If it was defaulted, it is correct to be marked that way. The whole entry drops off at the six year point

Grec

Thank you clarification, its much appreciated. 

I guess I can try and negotiate it to try and settle it.

sourcrates

The default status supersedes everything else, once an account defaults, the financial relationship is ended, and no further reporting takes place unless the debt is settled before the 6 years are up, then the default would be shown as satisfied, or partially satisfied whichever is appropriate, but no other reported status is possible no matter what arrangements you may make with the lender.