Credit Files why is there no consistency?

dibdabable

I am at the point of paying off my creditors having been on a DMP. I started the DMP in 2006. As a result I have been looking at my credit file and looking at questions from others on here about defaults etc.
It all seems a bit confusing to me. I presumed that all my creditors would have marked my accounts as defaulted, but actually the no.6 which appears against one of my accounts apparently doesn't mean default on the Experian Credit File. Instead it seems to indicate that the account is either 6 months in arrears or payment wasn't made for 6 months, which seems worse than defaulting to me.

Even though an arrangement was made with each creditor and I paid the agreed amount each month continually, the creditor/s, one minute uses DM, then 1 then AR then Ok, then back to AR, even though I stuck to the arrangement religiously, why doesn't it always appear as a DM. Other creditors don't put anything other than OK even though I'm on a DMP with them just the same. I don't plan on using credit, so it's not a big problem but there may be occasions where a decent credit rating would help.

Everyone always goes on about defaults, but it seems that actually having anything other than an"ok" alongside your history is bad enough and doesn't magically disappear, after 6 years. It seems I'd have been better off defaulting in 2006, as it would mean I'd be nearly at the point of a cleared credit file. Perhaps someone can tell me otherwise.

Can anyone explain if the situation above is salvageable? How long will these seemingly late payments stay?

dibdabable

Can anyone help?

dibdabable

I know this subject might seem a bit ambiguous but I really just wanted to know, should there be some consistency in the details applied to a credit file, or is it completely up to them.
I'd really appreciate people's thoughts.

[Deleted User]

It is up to them as long as they give you the benefit, if not then it must be true and accurate. hth

[Deleted User]

Having said that;

I can fully sympathise with your situation, but I need to let you know that Next has a contractual duty to accurately report how an account has been run to the Credit Reference Agencies. So while I appreciate information may be incorrect, the way in which you have run your account is factual. And while I wish it was it was possible to make an exception, I'm afraid we are unable to remove the record of the account from your credit file. But I can confirm that it does show as fully satisfied on 18 July 2008. If you’d like to confirm your personal details, I will certainly arrange for this to be amended.

dibdabable

assj wrote: »

It is up to them as long as they give you the benefit, if not then it must be true and accurate. hth

A bit confused by this what do you mean by give you the benefit? I'm not asking them to put things that are untrue. I just want the truth all the time, not one month applying one thing, e.g AR then another DM etc as stated above.

[Deleted User]

Sorry I am saying that they may choose not to report negative data, if this is the case you can complain but what would you achieve from this.

If they do report the data it is true, hence again what would you achieve from a complaint.

If you complain to the provider they will simply state you have defaulted and the default/ payment arrangement details will be provided to all of the relevant agencies.

I don't really understand what you are asking for, I would be thankful if they missed it a few months as this will help with the score and checks made in the future?

dibdabable

I don't think you're really understanding what I'm saying.
All I'm asking is if I'm on a DMP and they have chosen to select this in one given month, whilst I remain on the same DMP why don't they simply indicate that each month until I have finished paying
If as has happened, they report I'm in Arrears or 2 months behind after indicating I'm on a DMP, to my way of thinking it looks like I haven't kept to the plan if there are different indicators on there.

I don't see how these inconsistencies will help at all in the future. As said I would expect for them to indicate what is happening ,I simply want to know why their indicators keep changing when my payments etc remain unchanged from month to month.

Still a bit confused why you threw in the letter about Next?

[Deleted User]

Sorry the letter from next was to confirm that they are "obligated" to ensure they report correct information.

If they are entering information relating to missed payments, defaults and payment arrangements, they could argue that all of the previous are correct as you have missed payments and have defaulted.

If you are concerned you should write to the lender and ask them to reflect the arrangement, but they may just say yes and carry on doing what the automated system does.

Understand?

dibdabable

assj wrote: »

Sorry the letter from next was to confirm that they are "obligated" to ensure they report correct information.

If they are entering information relating to missed payments, defaults and payment arrangements, they could argue that all of the previous are correct as you have missed payments and have defaulted.

Understand?

Of course I understand. I have mentioned that this is what they're doing I just wondered why the same terminology isn't used in each month.You're not really telling me anything I don't know. Also I haven't actually defaulted at all, which I mention above.Thanks for your help but I'll see if someone else can address some of the original question.

[Deleted User]

If you miss a payment then you have defaulted the credit agreement, it does not mean you have been given a "default".