Debt write off
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Emm1E
Posts: 8 Forumite
Hi, one of my creditors has written off my debt !!!55357;!!!56842; Does anyone know how should it appear on my credit report? It!!!8217;s still showing as a late payment-this one never defaulted! Thank you
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Hi, one of my creditors has written off my debt !! Does anyone know how should it appear on my credit report? Its still showing as a late payment-this one never defaulted! Thank you
Typically debts continued to be reported to the credit reference agencies for six years after the date of the last default, or after the date of writing off the debt.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Hi Emm1E,
If a debt is written off then you would expect the balance to be £0 and be marked as settled to show that no further payments are due. However, it may depend on the circumstances in which this was written off?
And the debt should show for 6 years from the date of default or settlement (if it never defaulted).
Laura
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Today I had one of my debts written off after I sent them a letter asking them to do so (more complicated than that, health problems etc)
To quote their letter (probably a different company)
"We are writing to let you know that your request to write off the balance on your account has been accepted and your account is now closed.
Things you need to know.
The unpaid balance of £2,416 will remain on your account as an outstanding sum. Your account will be closed and we will not pursue you for the remaining balance and will not pass the remaining balance onto anyone else (such as a debt collecting agency) for recovery.
We reserve the right to set off the unpaid balance against any subsequent claim you may bring against us.
Your account will show as satisfied with an additional flag of 'partial settlement' on your credit file.
If we have recorded a default, the amount and date of your default will not be removed, but the status will be amended to reflect that your account has been partially settled. This information will remain on your credit file for six years from the date your default was recorded.
Please cancel any standing order payments that you have set up on the account"The way things are going, soon we are all going to be victims of something or other.
Who will we blame then?0
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