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Taking a debt of Credit File

edited 30 November -1 at 1:00AM in Credit File & Ratings
7 replies 673 views
Mm2066Mm2066 Forumite
1 posts
edited 30 November -1 at 1:00AM in Credit File & Ratings
Hello

I was wondering if anyone can help please.

So I Defaulted with Wageday Advance and was paying them back a monthly rate. However as they went into administration and now my balance is 0 ( yay!!). My question will be because I should not of been approved for the loan in the first place will this be taken of my file now or will it still show up as defaulted even though it has been moved to someone else.

Many Thanks

Mike

Replies

  • zx81zx81 Forumite
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    The credit reporting is unaffected by any sale of a debt.
  • [Deleted User][Deleted User]
    0 posts
    MoneySaving Newbie
    It will still show.

    If you should have never been approved for the loan then maybe you shouldn't have applied for it?
  • aneeanee Forumite
    1 posts
    have the same problem. what should I do?
  • zx81zx81 Forumite
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    About what (in the unlikely event this isn't post building)?
  • SystemSystem
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    anee wrote: »
    have the same problem. what should I do?

    There's nothing you can do to remove it from the credit file. You owe any outstanding amount to the administrators who may or may not come after it in due course.
  • sourcratessourcrates Forumite, Board Guide
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    Mm2066 wrote: »
    Hello

    I was wondering if anyone can help please.

    So I Defaulted with Wageday Advance and was paying them back a monthly rate. However as they went into administration and now my balance is 0 ( yay!!). My question will be because I should not of been approved for the loan in the first place will this be taken of my file now or will it still show up as defaulted even though it has been moved to someone else.

    Many Thanks

    Mike


    You need to expand on this a little more, you say your balance is nil, was this as a result of a mis-selling complaint that was upheld ?


    If so you should have asked for the information to be removed from your credit file as part of the settlement.


    If on the other hand, it was not the result of a complaint, then your "balance" (unless paid off by you) will have been sold on to a debt purchasor, just because a company goes into liquidation does not mean your debt is wiped, far from it.


    Your credit file will reflect your financial conduct.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
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    Any views expressed are mine and not the official line of MoneySavingExpert.com.
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  • robber2robber2 Forumite
    480 posts
    Part of the Furniture 100 Posts
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    anee wrote: »
    have the same problem. what should I do?




    pay it off
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