Debts on Credit File

**Amy**

Hi

Just a quick question.

I have a debt that has been red flagged on my credit file as i missed several payments.

I have agreed with a DCA to pay something each month, and have made 1 payment, and will make further payments for around 12 months.

I have this in writing.

What i was wondering is will it still show as "red flagged" on my credit file until its completely cleared as it with a DCA now and not the original company (Capital 1)?

Thanks
x

fermi

What do you mean by "red flagged"?

If the debt has been passed to a DCA then it should have been defaulted.

That will stay on your file for six years whatever happens afterwards.

From: Technical Guidance Note - Filing defaults with credit reference agencies

The ‘sale’ or assignment of debts on defaulted accounts

52 When the rights to a debt are sold to a third party, the lender has to make sure the records with the credit reference agency are accurate, up to date and adequate. If they want information about the debts to continue on the credit reference file they will need to come to an agreement with the purchaser about who is to be responsible for this.

53 If the purchaser agrees to take control of the record, the customer should be informed that the debt has been sold or assigned and to whom. The credit reference agency file should be changed to show the name of the purchaser and that the rights to the debt have been sold or assigned.

The purchaser should then make sure the record is kept up to date including changes to the amount still owed. The purchase should not affect how long the record is kept. It should be removed six years after the default.

**Amy**

Sorry thats what i meant. It shoes as having defaults (meaning it is red on the file).

Its still showing as Capital 1, should they now change to the DCA?

I know that once settled it will stay on my credit file for 6 years, just wondering if it will stay as "defaulted" until it is completly paid off and then it will say settled.

x

Sammy_Girl

**Amy** wrote: »

Sorry thats what i meant. It shoes as having defaults (meaning it is red on the file).

Its still showing as Capital 1, should they now change to the DCA?

I know that once settled it will stay on my credit file for 6 years, just wondering if it will stay as "defaulted" until it is completly paid off and then it will say settled.

x

Hi Amy,I have a similar case with one of my debts. I was told by the creditor that it will remain as defaulted on the report until I have settled the debt completely. For example, I defaulted in July with Egg, and they passed on to a DCA, so when I finally pay it off it will show the month that I have paid off as settled. Hope that help :)Sammy x

**Amy**

Yes that has Sammy thank you!

I am rubbish at explaining things so im glad you understood me! :rotfl:

Best get my butt in gear and pay it off me thinks!

Sammy_Girl

That's exactly what I'm trying to do!! That DCA debt is the next one that I'm going to pay off. At least when I finish paying it it will show a nice "settled" instead of default. Bummer that the "default" shows for 6 years, but at least it will have been "settled".

Good luck :j

Sammy x

**Amy**

Good luck to you too.

Yeah it is a bit annoying, but like you say at least it will say "settled" next to it.

I think mine is going to have to take a back seat to the CC and loan and my mum! :rotfl: :rolleyes: