Credit file default

[Miki123]

Hey guys,

 

I had a default on my credit file about 6 months ago. I called them and cleared the debt. They have marked my credit file as satisfied which is fine but now every month for the last five months they have been updating my credit file each month as default but with a £0 balance.

 

Are they able to do this and why are they doing this?

 

One other thing! When are defaults removed from the CRA? Is it the default date or the satisfied date?

[maroondevo52]

Hi,

 

Defaults are removed 6 years after Default date.

[firstship]

I believe it's time CRAs should take responsibility for the data they hold,and any data passed to a 3rd party ,if incorrect,the CRA concerned should be liable under the DPA,at the present time they act as if they are above the law.

 

FS

[BRIGADIER2JCS]

This default marked as satisfied remains for the balance of the six year life of the default.

 

As maroondevo said they are removed after 6 years paid or not.

[markstone]

Can a DCA carry on reporting on a debt AFTER the default has droped off (the 6 years are up) ? And if you just stoped paying the DCA after the default has expired, is there anything the DCA can do to harm your Credit files, such as add a new default for the debt?

[BRIGADIER2JCS]

No,and No once a default entry has been removed no further entries can be made for that debt.

[markstone]

So, if I just stoped paying the DCA altogether, there is not much they can do right? I wanted to negotiate the early removal of the default, but my offer of £2000.00 they have turned down, so I think I might just cut my monthly payments of £60.00 and just wait for the 19 months to elaps when the default natrually drops off, then they can whistle for any more money!

[BRIGADIER2JCS]

Quite your decision!!

[markstone]

I know it is my decision, but that is where I need your expert advice, because if I stop paying them, I need to be sure that come September next year when the default for the origional debt fall off, they can not do anything els to harm my credit file so that I can then go ahead and apply for a mortgage?

[BRIGADIER2JCS]

As stated the defaults once removed cannot be repalced paid or not!!!

Please be aware though that the removal of the default entry does not mean an immediate or dramatic improvement in your credit profile, lenders look increasingly

at periods of good ++ credit management of the up to 5 years now, rather than the more usual 3 years that used to be required.

[markstone]

Thankfully, I have kept my credit file in really good order ( I have got 5 years of good credit managment ) its just that one default, that is the stumbling block to a mortgage application as mortgage providers will not go near you with even the hint of a default, but providing I wait for the 19 months for that to drop off, I should have the green light to make the application?

[BRIGADIER2JCS]

Also it's unwise to rely on the ''mythical'' credit score the 3 magic digits are not seen by potential lenders, it is intended only as a day to day guide for the data subject to have some guidance how an application for credit may be viewed by a potential lender.

 

The type of account on file will also have an effect on lending decisions..

 

Good Luck!!!!!

[markstone]

Mmmm, can you please explain what you mean by the "type of account on file" will affect lending decisions?

[BRIGADIER2JCS]

Lenders will be influenced by long term accounts credit cards with a long record of payments larger than the minimum payments or being paid off in full each month.

Medium term loans payments made on time and no missed payments, are good factors.

Not having used available credit to the maximum is also good.

 

Short term loans PDLs paid off on time or not are being viewed as a draw back.

 

Numerous and or frequent apps for credit are a definite no no.

[markstone]

Well in that case, I am laughing, as I have all of those things ( bar the PDLs ) its just that dam Default I am waiting to drop of. Don"t you think it is mad, that the DCA has not accepted my offer to settle, when if I carried on with the current arrangement, it would take 10 years to get the money........ahh well, its their loss!

[BRIGADIER2JCS]

Madness no stupid intransigent behaviour that at time appears to be vexatious and I am damn sure that often offers of F&F payments NEVER reach any person with the ability or authority to make a decision.

[markstone]

Yep, think you are right, well as I said.......their loss ......greedy B####DS

[BRIGADIER2JCS]

:thumb:

[fletch70]

Please remember that even once the default has fallen off your credit file the debt is still live and real. If you just stop paying there is a real possibility of a ccj and /or a statutory demand.

You will only be clear of your debt after 6 years of non payment or acknowledgement.

Maybe a risky suggestion is to drop your payments which would make a full and final look more attractive.

 

That is risky though cos they could still apply for the ccj

[BRIGADIER2JCS]

A CCJ would be most unlikely as action through the courts should not be taken after 6 years, the 6 year limit is clearly recahed once the defaulted account has been removed from credit file, the courts very, very rarely agree to actions being started or restarted after 6 years from the cause of action.

 

More like is the fact that the debt will already be statute barred IF no payment or acknowledgment of a debt has been made in the 6 year period again court action is ruled out.

[fletch70]

But the op is paying so the SB clock isn't ticking yet. Can you tell me where it says that court action should not be started after 6 years.

[BRIGADIER2JCS]

Court actio should not be started after 6 years from the date that the debt arose!! Try Google.

[fletch70]

If what you are saying is correct then that means as soon as a Default falls off your credit file it is in effect SBd. This is not what the debt charities are saying.

[Old Cogger]

CCJ s if not been paid over a period of 6 years would be difficult for a company to enforce without good reason to a court, is probably what is meant.

[fletch70]

I did which is where the info came from.