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I've been a bit of an idiot, how to remedy a defaulted account.

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  • I've been a bit of an idiot, how to remedy a defaulted account.

    New member.

    Bit of background, I have lived in the USA for 9 years but will be heading back to Blighty for good in the latter half of 2019.

    Long story short, I kept some accounts open in the UK but ran into some financial issues due to parental health issues, emergency flights home and allowed £ 2,246 on a Tesco CC to default, the default date per Equifax was 23/03/2015.

    That was idiotic and frankly I'm embarrassed, but here we are.

    I called Tesco financial back in June of 2018 as I came into a little bit of money. They weren't much help but i went through a budget sheet of sorts and made an offer of 1000 GBP over the phone, it was submitted to someone and never heard back. I called again last month went through the same rigmarole and never heard anything back. Somewhat bizarre as I want to give them money!

    Third time is a charm but before I do so, can anyone provide practical advice when it comes to accounts such as this.

    Does it matter for my credit report if I pay it in full / partial or not at all?
    If I pay does it restart the 6 year timer for defaulted accounts?
    What is the industry standard when it comes to settling for less than the balance owed.












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  • #2
    a record of either would show, i.e:- Partial settled or fully settled as marker until drops off after 6 years Eng/Wales or 5 years scotland

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