Payday express 2016 debt - still showing as active account stating 6 months late

[JB147]

Hello All, great forum. I took out a number of payday loans in the past and now in position where I am ready t try and rebuild my credit. The most recent account showing on my credit files (all 3), is an "active account" with company called Instant Cash Loans t/a Payday Express. The account was opened in 2016 however it is still showing as active but with 6 months late payment markers. Can anyone give me any advice please how best to deal with this. I went on Payday Express website and it states it is closed and debts passed on to DCA called BW Legal. If I was offer to pay this debt (around £500), how would this reflect on my credit file. Would it show as settled now and therefore stay on file for 6 years? Would the payment markers for the last year and half stating 6 months late every month stay or disappear? Does anyone think it would be possible to write to Instant Cash Loans or the DCA on their website and offer too pay in return for removing all the bad markers? I took the debt during financial hardship and it was a straightforward credit application without any requests for income/expenditure and my credit file was littered with defaults. Can I use this as leverage for getting the markers removed? Any help on this would be much appreciated.
Kind Regards JB

[Amethyst]

If you pay it off now in a full and final settlement at a reduced amount it would be marked as partially settled ( or settled if paid in full) and would stay that was until it has been settled for 6 years. Late payment markers are better than default markers credit file wise of course. BW Legal may well update the credit file to show it as defaulted though before they take any action. Have you heard anything from BW legal? If the debt is now owned by them you would need to negotiate directly with them.

I'd also look at this https://debtcamel.co.uk/payday-loan-refunds/