Defaults

[Seminole]

Been a while since I've been on here and I'm a bit out of date.

 

I was chatting to a friend who has three defaults on his credit file with 2-3 years to run. He's considering paying the debts which will result in the defaults being marked as satisfied. Can someone confirm that these will drop off his credit file on the sixth anniversary of the default. I seem to remember that there are circumstances where the satisfied record remains for six years after the satisfied date but I can't remember the detail.

[dx100uk]

paid or NOT the WHOLE ACCOUNT vanishes on the DEFAULTS 6th birthday.

 

 

I question the logic in paying off the debts

it WONT improve his credit rating one bit.

 

 

I assume you've already advise getting a CCA request off to them FIRST?

 

 

dx

[register]

I have been thinking about this lately.

 

 

I am in the same position as your friend.

 

 

I won't pay as there is no point as my credit rating is trashed.

 

 

But do the debts really disappear?

 

 

Why would the companies not take me to court?

 

 

Why are they not chasing me now?

 

 

I fear that they will take me to court in year 5 of the default.

 

 

Or do they not for some reason?

 

This hangs over me a bit and I worry (in my weaker moments).

[dx100uk]

have you your own thread?

 

 

it depends on the debts

who they are with

the paperwork they how

age

etcetc

 

 

each case / debt is diff

 

 

yes you might well ask why haven't they done court

well they'll be an answer to that

 

 

just remember that the account vanishing on the defaults 6th birthday from the CRA files

doesn't mean its not poss payable