Hi all.

I have a couple of old payday loan debts that date back to late 2012 that are both Defaulted on my credit files.

In the absence of a time machine, would like to get these resolved and marked as satisfied in full.

I have managed to find original credit agreements for both of them.

Paydayuk

- £100 loan with £129 to be repaid.

It is showing as satsified on Callcredit and assigned to Prac Financial on others.

I suspect Prac bought it like they do and just wrote it off?

247moneybox/active securites - £100 loan.

£176 to be originally repaid.

Showing £292 in Default.

Recently contacted me out of the blue with a 50% settlement offer but were vague about updating credit agencies.

I do not want to make affordability complaints as I cannot be sure what I stated on applications.

Would I just approach it like dealing with any other old debt

and send them a letter offering X amount in full and final settlement?

I want to be smart about this and minimise what I pay and potential blowback so figured best to ask now if there as a right way to go about this?

Any other help, tips or advice?

Massive thanks in advance.

I wouldnt worry about then. Theyll be off your file this year.

You can pay them but it will be money totally wasted.

Are you saying given the age of them now the effect of getting them satisified would be negligible then?

Unlikely to make any difference to say a tenancy credit check or simo contract?

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off, paying now or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

.

NOTE: {the bracketed text is not ICO guideline but my advise]

no difference at all. If you pay it off you will still have the same blot on your copybook.

Are you saying given the age of them now the effect of getting them satisified would be negligible then?

 

Unlikely to make any difference to say a tenancy credit check or simo contract?