removing settle default from credit report

leann1

Hi, really need some help. My husb & I have to move home for work etc. We have a mortgage on our home with at least £30k equity so we were confident we'd get the mortgage we wanted. Checked our credit files before applying

In June 2007 my husb took out a loan. We separated for a period during which the loan wasn't paid and experian shows that a default was placed on his records June 2008. We don't know what paperwork was sent to him at the time & don't even have a copy of the original agreement (set up over internet banking) :embarasse I know, we really regret it!!!!!

It was passed to Metropolitan Collection Services and was paid by Direct Debit monthly, the last payment was made in April 2011.

Experian shows this as a DEFAULT status and was last updated sept 2011, also states SATISFIED.

This isclearly going to ruin our chances of getting a mortgage. Is there anything we can do to get this removed, I've read that if they didn't send the correct letters it can be removed but as previously stated I've no idea what letters were received.

spadoosh

Youll have to contact the original debtor and ask for the original documentation, if they can't / dont supply you with this you can send a letter (drafts knocking about on the net) saying they havent followed procedures etc etc and if they havent followed the rules they have to remove it. If they have the only thing you can do is ask them to remove it, to which the answer will most likely be no. As its satisfied i tihnk you may struggle to have it removed.

What date does it give on experian for the default?! Is it sept 2011 or is this the date it was 'satisfied'. If its the 2008 date you MIGHT be able to pursue lending if its sept 2011 you need to be waiting a few years before applying for credit or risk being knocked back and making the situation worse.

spadoosh

Also i tihnk you might have to pay for the original documents, about £10-15. Cant be sure on this though.

king100

Just SAR them, £10 they have 40 days + 2 to send you all the info they have, that includes any letters, if no default notice enclosed you might an I say might be able to get it removed. Took me 2 years to get my file changed to correct info.

Experian_company_representative

Defaults stay on your credit report for six years from the 'default date'. They are much better satisfied than outstanding, but best for them not to be there at all of course. If the lender says it's accurate and can't be removed you could consider adding an explanatory note about the relationship problems. All new lenders would see this and may take it into account.

James Jones

leann1

Thanks for your advice, what exactly does SAR mean? As I'm dealing with HSBC I don't want to mess up. Do you know where there might be template letters, just wondering if you used any. Congratulations on your success, bit worried though, I can't wait 2 yrs!!!!