Lowell and defaults

[Shelley181146]

I am posting this on behalf of a friends son.

 

He is looking to get a mortgage in the summer and had obtained his credit report file from equifax. However, this shows some very small debt from 2011 which was satisfied in 2013. However Lowell were involved and they have reported the same default on his credit file and its settlement but some 6 months later. Therefore, it looks like a duplicate entry but one from the original creditor and the other from Lowell.

 

(1) Is that permitted?

 

(2) Will either of them get dropped off his credit file or will it be the usual 6 year rule?

 

(3) How can he improve his credit file in respect to both these defaults? Can he write to equifax to have a note put on his file or will financial institutes realise it's the same original debt?

 

(4) How will creditors view occasional missed payments to other accounts (over 12 months ago though)

 

Any guidance to improve credit scoring would be appreciated to pass on.

 

Thanks in advance

 

Shelley

[Guest]

hi

afaik, notes/disputes can be noted on a cra file. see also section 159 consumer credit act re correction of any wrong info.

an actual default date should not be updated/renewed, but the 'owner' can be. and whether settled. and only one default per debt.

re the recent ICO principles on how defaults etc should be recorded see here for eg http://www.scoronline.co.uk/files/sc...ment_final.pdf see also their guidance.

[Shelley181146]

Thanks for that Ford but I am looking for information on how he can improve his credit score and wonder how banks etc will view occasional missed payments to other accounts although they were over 12 months ago, if he wishes to apply for a mortgage?

[Guest]

no worries. had thought you were also asking if their default entry was permitted/accurate, and whether can add a note/correction, hence the info

correcting an adverse incorrect/inaccurate entry may help improve a credit score! depends on the circumstances.