Do i have a default??

Optimisticred

This may be a daft question but I was wondering do I now have default against my name?

The history is that I ran up a bill of £650 on my phone with O2 August/September 2010 however I couldn’t afford to pay it off. I then set up a 6 month payment plan with O2 and started paying them back. I then missed a payment on Jan 1st and at that point O2 past it to a debt collection agency who contacted me and I then managed to pay off the remaining outstanding debt of £350 there and then over the phone and I am now back to using my O2 contract no problem.

The question I ask is therefore do I have a default registered against my name of my credit file because:

1. I set up a payment plan with O2, when I set it up the woman on the phone said it could affect my credit rating
2. Because the outstanding balance was temporarily handed over to a debt collection agency.

I have checked my credit file on Experian and there is nothing registered in the CCJs section while my O2 record shows as satisfied.

I don’t think I’ve received a letter saying that I’ve had a default, but I did receive a letter in September saying I hadn’t paid Augusts bill….is this classed as a notice of default?

So do I have a default or not?

Thanks

myteeduck

Hi,

Not 100% sure, but I would suggest that while your credit report doesn't state one, then you probably don't. The lady on the phone may have just be refering to that you may just lower your score, due to doing the payment plan. While it says settled - I would take that as your answer. But then again i'm no expert! I was told once by someone at Experian, that the records can be up to 3 months out, so I would just keep an eye on it. If i'm wrong hopefully someone will speak up and say.

Good Luck

Experian_company_representative

A default appears in the credit account section of your report as it is supplied by a lender not a court or other public body.

If the account entry is marked as 'satisfied' as you say then this is a default. Only defaults and court judgments are marked 'satisfied' once all due payments are received. Non-defaulted accounts are marked as 'settled'.

Check the 'status history' line on the account. A default on Experian is denoted by an 8.

James Jones