Question about default

RoxRoxBling

*Long story short..* On my credit report I have a default with one company, and all my other accounts are up to date with payments. So my question is...

If you've got a default does the amount of default influence whether you are approved for credit. For example, If I'm in default at £150, is this viewed better than say a default of £1000's. Or are all defaults bad defaults no matter what.

Sorry for such a silly question, but just want some views..

rising_from_the_ashes

All defaults will be viewed negatively - however, if they're for silly amounts (I had one for £32 once!) then it will have less of an impact than a huge amount.

Also, if you can pay it and get the default marked as "settled in full" they will have less of an impact than "unsettled" or "part settled" ones.

sistafromanothermista

I don't know the correct answer but i would imagine a default is a default....
Was going to say if you can contact them and get them to mark as settled this will be seen more favourably

RoxRoxBling

It was ID theft, so I'm not really willing to pay for it.. But if it helps ease the stress, I take it a settled default is better than an unsettled default..

rising_from_the_ashes

I'd be the same, I guess the questions are:

1) how much is it?

2) how long until it drops off?

3) what's happening with the ID theft? (are the police aware? is the lender taking action against anyone?)

If it was ID theft, then you really shouldn't suffer negative consequences from it - what is the lender doing currently?

In this case, I may be tempted to put a "notice of correction" against the default stating that it was ID theft & is being investigated (which I presume it is?)

RoxRoxBling

rising_from_the_ashes wrote: »

I'd be the same, I guess the questions are:

1) how much is it?

2) how long until it drops off?

3) what's happening with the ID theft? (are the police aware? is the lender taking action against anyone?)

If it was ID theft, then you really shouldn't suffer negative consequences from it - what is the lender doing currently?

In this case, I may be tempted to put a "notice of correction" against the default stating that it was ID theft & is being investigated (which I presume it is?)

It's of £150, and it came on my report as of this year. I have contacted all credit reference agencies to add a NOC. And the company are being a pain in the neck, so I have had to contact the FOS.. But that feels like a struggle.