Balance on credit file

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lisa817

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Joined: Fri Mar 22, 2019 6:54 pm
Post by lisa817 » Sat Jul 09, 2022 7:58 am
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Hi, I have recently received my completion certificate and I realise defaults on credit file will stay on for 6 years but should by balances still be showing on the accounts or should the balances reduce to £0.00. Makes me very nervous that my creditors still think I owe them more money….
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Breezy

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Post by Breezy » Sat Jul 09, 2022 9:24 am
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Account balances are dealt with differently by each creditor. Some simply freeze the balance and account, taking dividends into a dummy account, others will reduce them by the payments made, a few might even write them off and report a zero balance ... but they are not obliged to, as far as I know.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.
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Marty171

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Post by Marty171 » Wed Jul 13, 2022 9:38 pm
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The outstanding balance doesn't matter as long as the date of default is correct that's the most important thing
IVA Started 07/07/2017
F & F Accepted 06/09/2019
Completion Certificate 16/12/2019
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