If I pay my outstanding balance, what will happen to my credit file?

Once you have paid the outstanding balance on your account, we will notify CRAs. If you pay the full balance on your account, it will be marked as “settled” or “partially settled” if you cleared the balance as part of a reduced settlement offer. The default on your account is recorded for the original date of default & will remain on your credit file from this date for 6 years.