Loan Sold to Solicitor - How long bad credit?

  • Thread starter moneytrouble
  • Start date
M

moneytrouble

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Hi,

My loan was sold to a Solicitor by the Bank of Ireland around 3 years ago. It was 16k and I now have it down to 10k. Does anyone know how long that will effect my credit rating for - will it be forever? If 5 years, when does that start from, the date my loan was sold or the date I have finished paying the Solicitor? Also is there any need to stay paying the Solicitor if my Credit rating would never improve from it or if it wipes out after 5 years anyway?
 
It will start from the date you fully pay the loan off, as far as I know.
 
Thanks PaddyW - do you know then who will need to confirm this to the Credit Bureau? Bank of Ireland or the Solicitor?
 
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