Taking a debt of Credit File

Mm2066
Mm2066 Posts: 1 Newbie
First Anniversary
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

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    The credit reporting is unaffected by any sale of a debt.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    It will still show.

    If you should have never been approved for the loan then maybe you shouldn't have applied for it?
  • anee
    anee Posts: 1 Newbie
    have the same problem. what should I do?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    About what (in the unlikely event this isn't post building)?
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    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.
  • sourcrates
    sourcrates Posts: 28,870 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    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 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-letter
  • robber2
    robber2 Posts: 558 Forumite
    First Post Name Dropper First Anniversary
    anee wrote: »
    have the same problem. what should I do?




    pay it off
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