Need Help Sorting out My Credit File

Nosey_Norris_Cole

Hi - Have been a guest lurker on here for years but have decided to take the plunge after deciding i need help.

I currently pay £15 per month with Credit Expert to manage my credit file and am slowly rebuilding my credit score but I have an entry showing in default even though it was settled a long time ago. i need to write to them but i'm not sure how i go about it or how to find their up to date address.

Nationwide Building Society (Personal Loan Dept)

Can anyone assist?

mrsb83_2

Defaults are not removed just because a debt is settled. It is a marker on your report to show that you failed to repay as you were supposed to.

Why are you paying £15 a month? What are you getting out of it? If you have any debt the £15 would be better off bringing that down.

Nosey_Norris_Cole

mrsb83 wrote: »

Defaults are not removed just because a debt is settled. It is a marker on your report to show that you failed to repay as you were supposed to.

Why are you paying £15 a month? What are you getting out of it? If you have any debt the £15 would be better off bringing that down.

Err thanks for the advice but I don't have any debt and use the experian site to monitor my evolving data.

The markers are wrong as they show balances o/s and accounts long since settled incorrectly in default.

Anyone with useful advice out there?

SeduLOUs

If you want anything on your credit report changing you have to write to the company who the credit agreement was with - Experian can't change any of the data. There are template letters on the Credit Expert website for if you believe a balance showing on your file to be wrong.

If you default an account the default will show on your file for six years after the date of default, regardless of whether or not the account has been settled or how long ago you settled it. You will be able to see the date of default on your file. If the default date is incorrect then you can request for this to be changed, but if the information is correct then you will have to sit out the 6 years before it disappears from your file.

erimus1

I think Nosey Norris has come on here for some assistance, not to be told off. It is correct what mrsb83 says about a default remaining though. And if you're subscribing to creitexpert, you shouldn't really be paying any more than about £6.99 (what they knocked it down to for me when I said I was leaving). So far as defaults are concerned, yes they should be there and stay there from the day the default was registered for a period of six years. However, whilst ICO FOS guidelines set a maximum term for these as being six years, the minimum term for them to stay on is a grey area.

In addition, there are reasons for a default to be removed. For instance, if the account was in dispute when the creditor defaulted it. Perhaps if you can give a little more information in relation to the account history and exactly what you want by writing a letter to Nationwide.