Debt write-off
Debt, arrears & collectionsWhen a lender decides not to pursue repayment of a debt, often after default.
Overview
A write-off can happen after prolonged non-payment or settlement.
It does not always mean the debt is erased from your credit file.
Why it matters
- It is a significant negative event on your report.
- It can reduce access to credit for a period of time.
- It may still be pursued by debt collectors.
FAQs
Does a write-off mean I no longer owe the debt?
Not always. It may still be sold or collected depending on the lender.
How long does a write-off stay on my report?
It typically remains for several years as part of your credit history.
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