defaults ahhhh

catherine238

hey guys long time no speak.....

well after hearing that my ca was enforcable :mad: i just left the defaults alone to be dropped off in december 2012

well this is where i need the advice i have read on this web site a default has to be placed on 6th month of no payment?

looking at my equifax report

well on the c l finance default (bought from ulster bank) it doesnt show any missed payments just date deliquent 01/07 but on the payment boxes a default red in december 06

on the cabolt info it says date start 22/04/05
date delinquent 12/06
default date 14/12/06

i thought it was on your 6th missed payment or 6months from last payment you defaulted???

and what is the start date is that last payment made??

yes i am looking ways to get these removed again even though they fall off october /december 2012

any advice on what my chances of removal for apartial settlement are??
lots of questions i know im sorry but i really would love to have my own home next year summer time but cant with these 2 defaults

catherine :A

bottleofred

Hi Catherine,

I have never heard of the defaults having to be applied on the 6th month of non payment, but someone else may have. When a default is going to be applied to your account the bank send a default notice giving you 14 days to sort out the debt and after that the default can be applied. As you know, defaults make it almost impossible to get any type of credit. Even if you settled the debts, I'd be surprised if they remove the defaults, although settled defaults are much better than unpaid ones. You may be able to get a mortgage now, but it won't be at a very competitive rate and you may well be better waiting until the defaults drop off your credit file. Even if you do have to wait, you could save more cash towards the deposit etc.

Good luck

Red

fermi

There is a general piece of guidance from the ICO that says that for most accounts if a creditor wishes to record a default then it should normally be done within six months of your "relationship" with the creditor having "broken down".

i.e. maximum, but can be less.

Definition of "broken down" is a bit fuzzy, but x months of non corrected missed payments is a pretty clear one.

So, what exactly is wrong with those entries?

As they stand, they will come off in Dec 2012.

Start date = when the account was opened. Nothing to do with payments.

catherine238

Thank you all for your replys : )
I was just hoping that if I could get the default date earlier then they would fall off quicker : (

Do you think because the come off soon that for a reduced final payment they might remove default??

Just clutching at straws but really would love to be able to get a house before my wedding

Thanks again guys your help is really appreciated

Catherine : )

fermi

fairoS wrote: »

also have 3 defaults on my account, which were actually declared in my bankrupcy.

This should really be in it's won thread on the bankruptcy board.

I'll move it over.

Click: https://forums.moneysavingexpert.com/discussion/3148884