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Account settled?

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  • Account settled?

    Hi,

    I have a debt with car finance. The other day I got an email saying there has been a change on my credit report form Equifax and when I checked it it said that the car finance company had marked my debt as settled and put £0 as the outstanding balance. Yet two days later I receivd a letter from a debt collectors regarding this debt?

    Has the motor finance company truly decided to leave it or is it a mistake?

    I can say that the finance company took the car about three years ago.

    Any help and advice on how to deal with it?

    Slowly but surely trying to deal with all my debts
    Tags: None

  • #2
    Re: Account settled?

    just checked also my Noddle report and it says Moneyway account is closed and settled? on the 1/1/2017

    Comment


    • #3
      Re: Account settled?

      When a creditor sells a debt to a debt collector is is normal for the creditor to mark the debt as settled wth 0 owing and for the debt collector to add a new record for the debt which they now own. This new record should have the same default date that the original one did.

      You should check your Experian and Call Credit records and see if the debt has popped up there. If it hasn't, it probably soon will.

      Comment

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