Do >12 year old debts reappear on credit file if settled?

[Helixcheese]

My first post - apologies if this type question has already been answered elsewhere.

 

Due to ill health around 2001-2002 I was unable to meet the monthly payments on credit cards and a loan. My creditors agreed to suspend interest/charges and accepted reduced payments that I continue to pay today unsecured loan,; Frederickson International,Capitol One credit card; Mint credit card).

 

I was served a default notice in October 2002 for the Halifax loan but do not recall receiving the same from the other creditors. I have never missed or been late with the reduced monthly payments (total now owing ~£3XXX. total monthly repayments £45).

 

I have recently obtained £2 statutory reports from Call credit, Experian and Equifax. None of my creditors appear on these reports.

 

My questions:

 

1. Even though I cannot view these debts or their records on my credit files are potential lenders able to 'see' more than me when they make a lending decision?

 

2. Once I have paid these debts off with the agreed reduced monthly payments will they re-appear on my credit files as 'settled'? If so, could this affect future borrowing? If wanting to apply for a mortgage/ other credit would it be better to do it before these are paid off.

 

Thanks.

[obiter dictum]

Once the accounts have been defaulted they will be removed permanently from your credit files after six years, five in Scotland

 

Future creditors will not see this information as it has been removed

 

You are now clear

[Helixcheese]

Thanks capquest.

 

I don't think I was served a default notice by Capitol One credit card or Mint credit card - just switched to reduced payments. Does that make any difference?

[obiter dictum]

No

 

The accounts have now been deleted from your credit files so they must have been defaulted at the time

 

You are in the clear as to defaults

[Helixcheese]

Good to know. Thanks sfor the quick response. Clearly better to default as soon as possible if there is no realistic prospect of returning to the agreed credit terms in the near future.

[obiter dictum]

Accounts can only be defaulted once, the six year clock starts from then and credit reference files reporting

[dx100uk]

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 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 bracketted text is not ICO guideline but my advise]