Is it possible to get defaults removed from your credit file early?

lc23_2

Hi All

I am new to this site so hope I am posting this in the right place.

I wanted to try and get some advice as to if there is any way a company can remove a default from your credit file early?

Around 3/4 years ago I fell into debt due to personal problems and have been paying the price since. A lot of my defaults are for relatively small amounts (most of them under £400). These have really had a huge impact on my life and they are really affecting me trying to move forward. I would really like to think about trying to get a mortgage at some point but I know it is not even worth thinking about until these defaults come off of my credit file.

I wanted to see if anyone may have some type of template letter that they may have sent to companies asking if they would consider removing the default now that it has been satisfied. I wasn't sure if sometimes companies may be sympathetic to individual circumstances and if the default is for a relatively small amount.

I would really appreciate some advice on this point and hopefully someone might be able to point me in the right direction.

Thanks again

rising_from_the_ashes

Sorry but it's highly unlikely you'd get them removed - they are a true reflection of how you handled credit agreements and, as such, should be on your file for other potential lenders to see.

The only time you'd really get them removed was if they had been issued in error.

I know how you feel tho' - I had multiple defaults - some as low as £27 on my file and it was very frustrating that they were there for the full 6 years.

The best you can really hope to achieve is to have them all updated to "settled in full" (providing they have been of course).

[Deleted User]

I agree with the above, they seem to be very strict now with this type of thing.

Moneymash

You are looking at it the wrong way, as a hindrance.

Think of it this way you have another 2 to 3 years before they drop of your credit report. Use this time and opportunity to learn the lesson, to stop getting unecessary credit, to not run up further debt, to live within your means and save like mad for a deposit.

When the defaults come to an end, you'll have a new approach to money and some healthy savings.

Turn the negative into a positive.

lc23_2

Hi all

Many thanks for all of your replies.

I know 2 -3 years is not a long time really to wait until the defaults drop off my file. The only reason I thought I would try to find out if they could possibly be removed early is due to some bits I have seen on the internet. It basically says that some people have been successful in getting defaults removed early especially those under £500 so I wasn't sure if it might be worth giving it a shot to see what happens. I have basically gone through my whole credit file to make sure I am paying back all of my creditors and any others I owe money to and I am almost done with paying what I owe back. I did ask some of the creditors once I had paid the debts back if they would consider removing the default early as they were for low amounts and they were affecting my life in a massive way. Some of them said they would consider a letter if I sent it in and some of them said not at all. I have drafted some letters to send but do not want to put myself in a position where I could make the situation worse. I am thinking that maybe I should send the letters in explaining the previous situation I was in to give it a go and see what happens. I also have a default on my file where I was able to claim PPI back from the company, does anyone know if I may have a case at least in relation to this default?

If anyone could let me know their thoughts on this that would be great.

thanks again for all your replies

Moneymash

Having one default is as bad as having many. What happens if you go through all this effort and some of the companies simply refuse to remove the defaults. Your credit report will still be adversly affected.

If you got a PPI refund I suppose you could argue that you would not have defaulted if you hadn't had to pay the PPI but can this be proved? Also, I have yet to read of anyone on this website successfully getting a default removed where they have won a PPI mis-selling case.

If you do manage to remove any defaults including the PPI one, then come back here and post as there would be a lot of people interested in how you achieved that.

lc23_2

Many thanks for your reply.

I think I am going to give it and go and see how I get on. I will post any progress I make on here.

Thanks again

simax

Just a quick question on the back of this:

Do automated systems see a default and treat each one the same? Ie: one person has a default for £200 and the other person has one default for £21k? Or does the value have a bearing?

[Deleted User]

The value does have a bearing because if you are refered due to low score, someone will take a look further at your details - regarding mortgages. This is what a broker on this forum told me last week - and I know they check somehow because they questioned me on some of my mistakes when I applied a few years back - so they must have seen details.

I know for things like credit cards and phone contracts they just go by score.

EllaBeagle

I wrote a letter to 2 companies I had settled defaults with. One said they would remove it as a good will gesture and the other said they are obliged by law to keep this information on my credit file. It may be worth writing to them all just incase but the best thing to do if they don´t remove them is just make sure your current credit agreements are always kept up to date. That way, while you´re saving for your deposit by the time you do apply for a mortgage your credit score will have improved.

tulip5

yes it is possible to get a default removed as i did earlier this year! dont give up if at first you dont succeed! It was difficult and rather stressfull, firstly i would make sure all debts are paid in full, then simply write a nice letter to each explaining why you defaulted, they will write back probably rejecting but call that your starting point, get sar from each one do a lot of research oodles of it on the net and plan each letter well but always be gratefull apologetic understanding cooperative and above all determined. There is no law that they have to put this on your file just a financial responsibility.