default added by welcome finance in july 2009

[rippedoff15]

My wife has got a default added by welcome finance in july 2009, however the file is also marked as satisifed, can we ask for this to be removed now its classed as paid, or will it be on file for 6 years from the default date !!!

[citizenB]

Unfortunately it will stay on your file until the 6th anniversary of the default date

[rippedoff15]

Manys thanks

[BRIGADIER2JCS]

RO did your wife pay this off?

[rippedoff15]

No the debt was statue barred in jan 2013, but had default date of 18/8/07 , however getting this removed has not made any mark on her file still the same score 499, did think it may increase a little

 

Their is an old halifax unpaid and unchased ccj which drops off on 21/09/13, hope this helps the credit score increase

[BRIGADIER2JCS]

The building of a 'credit profile' is not immediate on removal of a default entry, other factors will still influence the 'score' which is in fact just intended to give the individual a 'day to day' picture of how a potential creditor MAY view a credit application.

 

The CCJ showing will have a greater impact than the default removal.

 

Also unless there are a couple at least of accounts showing a good/excellent management record, no late or missed payments there is no data to base a 'score' increase upon.

[rippedoff15]

Hi Brig,

 

We are trying to rebuild the credit file, stated by sorting out debt this should be clear after the ccj is removed, how can we start increasing the score as no companys are reporting ?

[BRIGADIER2JCS]

Morning RO,

 

This is the difficult problem when no current credit facilities are being reported, as there is nothing for the CRAs to base a credit profile upon.

 

A credit builder credit card is an excellent starting point (I have no hesitation in saying take a look at Capital One in this area) a very low credit limit £250.00 is ideal make small regular purchases and pay them off every month, to build a picture of good management. BUT do not be tempted by accepting credit limit increases or credit card cheques, interest rates are high but by clearing all debt on time every month means you are building a profile without cost.

 

Stay away from catalogue accounts these are not seen as ideal money management accounts.

 

Let the CC account run for a year, then seek perhaps to purchase a small item on say 12-18 months credit ensure payment by DD or SO so that payments are not missed.

 

An inexpensive mobile phone contract can also help.

 

The process with care will take up to three years to get to a level of 'good'.

 

I presume that electoral registration is in place? Are there any linked addresses that could cause problems?

[rippedoff15]

Hi Brig

 

Have not applied for anything not even contract sim, as if refused it just adds search to credit file, we think best wait until the ccj drops off this may increase the score and help get some type credit score.

[BRIGADIER2JCS]

Hi Brig

 

Have not applied for anything not even contract sim, as if refused it just adds search to credit file, we think best wait until the ccj drops off this may increase the score and help get some type credit score.

 

Good thinking RO!!

[Givuzagame]

Capital One don't help you if you've had a previous card with them. .....

 

Morning RO,

 

This is the difficult problem when no current credit facilities are being reported, as there is nothing for the CRAs to base a credit profile upon.

 

A credit builder credit card is an excellent starting point (I have no hesitation in saying take a look at Capital One in this area) a very low credit limit £250.00 is ideal make small regular purchases and pay them off every month, to build a picture of good management. BUT do not be tempted by accepting credit limit increases or credit card cheques, interest rates are high but by clearing all debt on time every month means you are building a profile without cost.

 

Stay away from catalogue accounts these are not seen as ideal money management accounts.

 

Let the CC account run for a year, then seek perhaps to purchase a small item on say 12-18 months credit ensure payment by DD or SO so that payments are not missed.

 

An inexpensive mobile phone contract can also help.

 

The process with care will take up to three years to get to a level of 'good'.

 

I presume that electoral registration is in place? Are there any linked addresses that could cause problems?

[Givuzagame]

I have noticed that some companies use an updated date that is later than the default date from when it should be removed. Does this entitle them to keep it on file or "update" the default date as this seems dodgy....?

[BRIGADIER2JCS]

Updates and default dates are totally different and have no relationship.

 

Up dates are listed when the creditor or DCA amends or reports to the credit file. These shown as ' last updated' separate from the default date.

[Givuzagame]

Updates and default dates are totally different and have no relationship.

 

Up dates are listed when the creditor or DCA amends or reports to the credit file. These shown as ' last updated' separate from the default date.

 

So at the 6 year point, I can still request removal if it hasn't dropped off the file?

[BRIGADIER2JCS]

AS said the update is not relevant, a defaulted account is removed on the 6th anniversary of the DEAFULT date. paid or not.

[Givuzagame]

So can I insist to equifax/experian that it is removed? What would be next step if they do not?

 

So at the 6 year point, I can still request removal if it hasn't dropped off the file?

[BRIGADIER2JCS]

YOU do not have to do anything ALL defaulted account entries on CRA files are removed after 6 years paid or not!

 

UPDATES are not default dates.