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Credit record mystery with M+S - help!!
honory
Posts: 34 Forumite
in Credit cards
Hi, I had a DMP with the CCCS which finished with everything paid off in July 2007. Since then I have an immaculate credit record (i have a capital one cc which i pay off every month) and all other debts are fine. I kept to all agreements with the CCCS and since 2004 when i took out the dmp I have led a strict and unextravagant life!!
We have recently applied for a mortgage through our financial advisor and all was going well. The advisor thought we would encounter no problems and since all the arrangements to pay had actually been settled and cleared since 2007 he thought we would be fine. We applied for our equifax credit file and checked it (as did the financial advisor) and were very ready to proceed so the mortgage application was made and yesterday we received news that the underwriters had declined it. Our financial advisor is following this up but it would seem the problem is a Marks and Spencer Credit Card which is showing as settled in 2007 but it notes a Default (instead of an Arrangement to Pay) for one month is July 2006. It also shows a default/delinquent balance of £4755 at the same time as showing the account settled in July 2007. In fact on the credit record after the default of july 2006 it shows a green S in August 2006 followed by 3 months of U (unavailable data?) and then from there up to July 2007 it shows green in every month up to the final green S in July 2007. From 2004 - 2007 I paid this debt via the CCCS every month. I never missed a payment and increased payments to them as i cleared other debts. I contacted all my creditors when i first arranged the dmp plan and M+S were very agreeable and froze the interest rate and allowed the arrangement to continue until they accepted full and final settlement in July 2007. I am going to contact them to get them to investigate but apart from the last 4 digits of the card which appear on my credit file I have not kept any documents referring to this. Obviously I am hoping that something can be done their end but does anyone have any advice? All other debts that were processed by the CCCS in exactly the same way show AP in red every month of the agreement until the green S of settlement. None of them apart from the M+S card show a default/delinquent balance and none show a Default marker apart from M+S. Does this sound like a mistake?We really need to know how to proceed as we have to move house because of my commute to work. Any advice gratefully received!
We have recently applied for a mortgage through our financial advisor and all was going well. The advisor thought we would encounter no problems and since all the arrangements to pay had actually been settled and cleared since 2007 he thought we would be fine. We applied for our equifax credit file and checked it (as did the financial advisor) and were very ready to proceed so the mortgage application was made and yesterday we received news that the underwriters had declined it. Our financial advisor is following this up but it would seem the problem is a Marks and Spencer Credit Card which is showing as settled in 2007 but it notes a Default (instead of an Arrangement to Pay) for one month is July 2006. It also shows a default/delinquent balance of £4755 at the same time as showing the account settled in July 2007. In fact on the credit record after the default of july 2006 it shows a green S in August 2006 followed by 3 months of U (unavailable data?) and then from there up to July 2007 it shows green in every month up to the final green S in July 2007. From 2004 - 2007 I paid this debt via the CCCS every month. I never missed a payment and increased payments to them as i cleared other debts. I contacted all my creditors when i first arranged the dmp plan and M+S were very agreeable and froze the interest rate and allowed the arrangement to continue until they accepted full and final settlement in July 2007. I am going to contact them to get them to investigate but apart from the last 4 digits of the card which appear on my credit file I have not kept any documents referring to this. Obviously I am hoping that something can be done their end but does anyone have any advice? All other debts that were processed by the CCCS in exactly the same way show AP in red every month of the agreement until the green S of settlement. None of them apart from the M+S card show a default/delinquent balance and none show a Default marker apart from M+S. Does this sound like a mistake?We really need to know how to proceed as we have to move house because of my commute to work. Any advice gratefully received!
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Comments
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Think you are lucky to get only 1 default, normaly all creditors would default youDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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How long does that count against us though?0
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defaults stay on record for 6 years from default date, whether they are satisfied of not
they drop off on the 6th Anniversary, (or very soon after this depending on the CRA)It's a health benefit ...0
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