Credit Rating: How it works and How to improve it discussion area

nows_the_time

Hi i just signed up for Quidco and did the free trial for 30 days with Equifax. Now i have my report i want to cancel the trial so i do not get charged £70, but i want to make sure that i get the cashback from Quidco still. If i cancel now will that stop my cashback?

Sorry but not used before and i cannot see the cashback amount showing in my Quidco account.....I am guessing that it takes a while to process???

deefadog

Mine appeared the next day! - Cancel it ASAP, if you get the quidco then that's a bonus!

Kandipandi

izools wrote: »

Fair enough, they were partially satisfied defaults in my case so no balance to persue... no risk!!

Oh I see, I could go down this line with the fully satisfied debts perhaps.....thanks.

Kandipandi

I got my report last October from equifax and cancelled straight away, how long is it before I can request another free trial?

never-in-doubt

izools wrote: »

Fair enough, they were partially satisfied defaults in my case so no balance to persue... no risk!!

Utter nonsense mate!

A default, whether satisfied or not can affect you for 6 years. The exception to this is if you have other accounts that outweigh the negative data supplied by the default.

By that what I mean is that Tesco, for example, only search back two years meaning if your default is over 2 years old and everything else is fine since then, you may get accepted. Similarly, this process works for the Sub Prime cards.

It has nothing to do with the default balance being settled or not - it is all to do with the search criteria vs the overall risk of the applicant.

You'll find people that have a default under 2 years can only get a card from the likes of Vanquis, Crappy1, Barclaycard or Aqua...

Have a read here to learn about CRA's & the effect their data has on applications: Credit Reference Agencies

never-in-doubt

Kandipandi wrote: »

Oh I see, I could go down this line with the fully satisfied debts perhaps.....thanks.

You cannot do anything, if you have been defaulted it doesn't matter whether you cleared the debt or not - it can affect you for 6 years from the date of default, only if the lender deems it appropriate to search that far back.

So say you have a bank account giving you plenty of green [0]'s and a credit card doing the same, and then one default from 4 years ago - you'll find a lot of places will accept you, maybe not for their best deals or good limits - but they may accept you.

I got accepted for 2 gold cards whilst having over 500 searches, 50 defaults and 10 cifas entries registered against me. I got them because it was clear (upon appeal) that the debts were not mine - now removed.

Point is, if you have a good enough argument you are free to appeal any decline you get but forget trying to get the default taken off, it just won't happen - not with all the hassle the CRA's are getting for their part in the unenforceability wrangle. The lender are adding defaults to a disputed debt which is a breach of CCA 1974 - they do it knowing we cannot afford to sue them for removal. Basically the CRA's have clamped right up over the last year and unless the lender tells them to remove a default, they won't.

Lying will achieve nothing and any advice telling you to lie is wrong and should be ignored

izools

N-I-D jumping to slag me off as usual, was waiting for that to happen.

1. The question was asked how long defaults stay on one's file I correctly stated six years from the default date irrespective of balance.

2. I also mentioned, that in my case, some have gone sooner, because of incorrect default dates, that I made the creditors aware of, and they removed them rather than ammending the date.

3. The quote you included in your rebuttle reffered to the fact that I argued with my creditors about incorrect default dates. I mentioned "No Risk!!!" in the context that there was no risk of alerting creditors to my presence and "risking" that they would start to chase me again as a result. As there was no balance to chase. I mentioned this because the other poster I was replying to was considering threatening their creditors with action under the DPA but wanted to do this for defaults that hadn't been satisfied yet. OP was worried about this alerting them and re-initiating their chasing him.

In summary, I was not referring to what you think I was. You think I was referring to whether a satisfied default poses a lower risk to a potential creditor than an outstanding one. I know that it doesn't.

Unfortunately N-I-D, your most recent attempt to make me look like an idiot has resulted in egg on your face. Again.

never-in-doubt

izools wrote: »

N-I-D jumping to slag me off as usual, was waiting for that to happen..

I never jumped to anything but I did spot incorrect advice. An incorrect default date will no longer satisfy the rules to have it removed - as you've probably noticed there is a lot going on lately as a result of the 12 test cases and unenforceability in general.

I corrected what you implied, i.e. incorrect defaults can be removed - no, they cannot. They will simply amend the dates and leave it on there.

You implied that as they were partially satisfied that you were no risk! Its here in black and white! That my friend is wrong and we both know it.

Fair enough, they were partially satisfied defaults in my case so no balance to persue... no risk!!

I don't know why you take things so personal, as I told you before I have better things to do than look for your misleading posts!

izools

Let me remind you of what I posted:

izools wrote:

Or, in my experience atleast, give it a couple of years, raise hell and legal threats in writing claiming that the default dates were wrong demanding the creditor to substantiate the data regarding the date to prevent action being taken under the DPA and a couple of weeks later they mysteriously dissapear without a peep from the creditor (this is different to disputing enforcability).

kandipandi wrote:

Really, I would be afraid to bring myself to their attention in case they began to persue the debt again.

izools wrote:

Fair enough, they were partially satisfied defaults in my case so no balance to persue... no risk!!

I did not refer to test cases, law, or anything like that.

I referred to the FACT that in MY case, I DID threaten my creditors with action under the DPA due to incorrect default dates, and Halifax, Barclaycard, and RBS, removed their defaults instead of ammending the dates.

I don't care whether it satisfied the rules - all I know is that it happened, and I am sharing my experiences.

Now why don't you trot along and stop trying to make me look like an idiot. You'll only make yourself look like an even bigger one.

never-in-doubt wrote:

You implied that as they were partially satisfied that you were no risk! Its here in black and white! That my friend is wrong and we both know it.

I impied that as they were partially satisfied I was at no risk of being persued for the debt if I threatened them. It's there in black and white. You my friend, are wrong and we both know it.

CannyJock

Kandipandi wrote: »

I got my report last October from equifax and cancelled straight away, how long is it before I can request another free trial?

You can't. Officially only 1 free trial per customer.