Santander on credit file

Experian_company_representative

I think fermi's on the laughing gas.

If they do register a default retrospectively make sure the default date pre-dates the bankruptcy and that the account is marked 'satisfied' once your AD takes effect.

James Jones

fermi

Experian_company_representative wrote: »

I think fermi's on the laughing gas.

Hardly. Does sound sorta fun though.

WLITC

Experian_company_representative wrote: »

I think fermi's on the laughing gas.

If they do register a default retrospectively make sure the default date pre-dates the bankruptcy and that the account is marked 'satisfied' once your AD takes effect.

James Jones

Can they add the default after its marked as satisfied? Or if its marked as satisfied will they (I'm assuming at that point it becomes a closed account on their own system) have no interest in going back later and making amendments?

fermi

ian_h wrote: »

If so I have just been AD'd and my file shows Santander have settled the account (no mention of default anywhere) and the number of late payments has increased to 3.

Interesting.

I wonder what there reasoning is there?

If I was cynical, then I would say it's a deliberate attempt to harm your credit rating for an extra year or so?

Without the default, the account will stay on your credit report for 6 years from the settlement date. Late payment markers included. So if you get AD, that is an extra year with negative info on your report.

WLITC

fermi wrote: »

Interesting.

I wonder what there reasoning is there?

If I was cynical, then I would say it's a deliberate attempt to harm your credit rating for an extra year or so?

Without the default, the account will stay on your credit report for 6 years from the settlement date. Late payment markers included. So if you get AD, that is an extra year with negative info on your report.

Well after speaking them today, I'm thinking the lack of default on ian_h's account is down to the same reason as they told me, i.e a massive system error which means thats the default hasn't been applied to most accounts on the 7th month of non payment as it should do and as a result they won't now be marked as default until another 6 months later (can't remember if he said 6 months from now, or 6 months from when it should have been applied). Anyway, if this is indeed the case then both Ian_h's and my default will get applied within the next few months and once thats the case, then I assume if the date is not the BR date or earlier then we would just go through the credit file clean up process again to ensure the dates are as they should be?