Old default question...

Hi everyone, I have a quick question if you don't mind.

Below is a default from my credit file. This is a very old debt. According to this I was 14 when it started. I was born in 1981!! Anyway the company purchased the debt from HSBC and could not provide me with a copy of the original signed credit agreement, therefore I have not been making payments on the debt.

My question is, six years are up in three days according to the default date on this entry. Will this default be removed from my file, replaced on my file differently or stay right where it is?

Thanks

Gemma

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Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    It will be removed entirely from your credit file (its actually 6years and 1 day for experian, and something like 6years and a week for equifax)
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • gembex
    gembex Posts: 31 Forumite
    Hurrah. I was a little worried that they would put it back on, or renew it or something as technically it shows that the balance is still outstanding.
  • Tixy
    Tixy Posts: 31,455 Forumite
    They absolutely shouldn't. Keep a copy of that credit report that shows the default date. In the unlikely event they (or another debt collector) sneekily put it back on with a later default date then having a copy of it as it is at the moment will make it easier to get it removed.
    (Don't worry too much this doesn't happen often but occasionally it has been known).
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • gembex
    gembex Posts: 31 Forumite
    Thanks so much, I feel quite reassured now. I've spent YEARS cleaning up my credit record and this is the last little red spot. Everything else is green!
  • gembex
    gembex Posts: 31 Forumite
    PS - When it is removed, is there an instant jump in my credit rating or is it a progressive thing? I have several other credit accounts, all up to date with no missed payments so do you think my rating will be a good one?

    Thanks :)
  • chanz4
    chanz4 Posts: 10,843
    First Anniversary Name Dropper First Post Xmas Saver!
    Forumite
    it should boost quite high, but agencys wont report as perfect
    Don'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.
  • gembex
    gembex Posts: 31 Forumite
    Well I just hope it will be good enough to get a normal account, an overdraft to help with managing the bills and maybe even (god forbid) a credit card with a good rate. It would be nice to not feel like a second class citizen for the first time in years.
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