Query with Credit File

LollyLou_2

Hi everyone, I wonder whether you can give me some advice with my Credit Expert Credit File?

I recently received a copy of my credit file and was shocked to discover that there were some mistakes on there. A current account with the Halifax which I closed in 2004 was showing a default. I rang the company concerned and queried the entry of a default on a current account. To cut a long story short they advised me that they had not requested Experian to record a default against this account!!! My question is then, who had????? It has now been removed and shows those lovely green zero's! I have also taken the advice to get myself on the electoral register which is also showing on my file.

However....my credit score is still the same (657) I would have expected this to have gone up with the removal of the default and me being registered on the electoral role but there has been no change. I know people say that you shouldn't take too much notice of your score as its only a rough guide but I'm very confused.

Also, how did a default appear on my file?? It just goes to show that you should really check your credit files as mistakes do happen.

Any advice on the above would be greatly appreciated...I still need to post my SOA which I will hopefully do at the weekend.

Thanks everyone - so glad its Friday!!!

file_wizzard

Hi Lollylou

do you have any active accounts at present ?

Bullygig

Hi,

I was recently declined credit and got my report from both experian and equifax.
Both reports were riddled with errors from linking me to a house number 21 when I live at 21b, having my address wrong and not having me on the electoral roll when I have been for years.

I have asked for the errors to be corrected, and slowly they are being, but I resent the fact that these companies hold information that is used against me and I have to pay them to sort it out!

Good luck

LollyLou_2

Hi guys,

Thanks for responding...

Yes I do have active accounts with HSBC, T-Mobile, MBNA & Halifax credit cards, these are all in order i.e. no late payments. I do have one default account which I am currently paying off. This is with a Northern rock loan and occurred due to a period of unemployment. This is already accounted for in my score, I was just hoping that the removal of the default with the halifax and me being on the electoral register would have helped.....

LollyLou_2

Please see my original posting...am now on electoral register & a default (that was logged incorrectly) has now been removed from Credit file but still on same score? Why?????

ANy suggestions or advice welcome.....

Thanks everyone

sportbeth

From my limited understanding, having one default is just as bad as having two. You don't seem to get any brownie points for having one taken off.

I could well stand corrected here, but they are very harsh on defaults, they appear to be pretty much on a par with CCJ's.

I hope I am wrong, anyone want to correct me?

LollyLou_2

Eeeek! This is not good news. Will it make any difference do you think once the account is settled? What are my chances of getting a mortage? All my other accounts are managed well (no late payments or defaults)

I'm so annoyed with myself.... :mad:

Iona_Penny

In my personal experience the default notice will stay on your credit file whether it is settled or no. This means it will be on your record for 6 years, and it will affect your creditworthiness.

As for getting a mortgage, I think you need to ensure it is the only negative item on your file, keep all other payments up to date, and when you go to apply do it in person, explain what is on your file and why(unemployment) No guarantees but shows you are being upfront, especially if you can take a copy of your credit file showing all else up-to-date. (remember they won't have access to your file, just creditworthiness)

LollyLou_2

Thanks Iona_Penny! Cool user name!!

All my other accounts are in the best of order, i.e. no late payments, defaults etc. I am on the electoral reg, and by this time next year I should be well into paying off my cc's, so will not be using all available credit.

I did read in one thread on this site that someone wrote to their creditor after they had settled a default account and asked that, as this was a one-off due to unemployment and because they had no other adverse credit, would they as an act of goodwill remove the bad entry (which they did!!!) ....Probably a long shot but you don't get without asking!!!

Experian_company_representative

If you find any errors on your credit report, tell the agency and it will investigate. It will also flag the disputed entry as unreliable in the meantime. People should check their credit reports from time to time, something the agencies encourage.

Credit reports aren't used 'against' people. Most of the information held is positive and actually helps people get credit quickly and easily when they want it.

Defaults are held for six years and lenders should only remove them if they shouldn't have been recorded in the first place. But what you can do is add a note to your credit report (called a notice of correction) explaining any mitigating circumstances. Lenders will see this while the default remains on your credit report and may take any special circumstances into account.

LollyLou_2

Thanks JamesJones and to everyone else who has responded.

I regularly check my credit file (almost an obsession!!) so I quickly notice when something isn't right (There were so many mistakes when I got it for the first time - it was quite shocking!!!)

I know that that default isn't helping matters so I hoped that when one was removed and I was recorded as being on the electoral register, it would have made a positive impact on the score. Oh well, I'll just keep making the payments on time (all on ddm's or s/o's) and just hope that the score increases.