Default help!

stressedbusymum

I have recently ordered the three main credit reports for both me and my husband. My husbands is showing a black horse loan which he stopped paying in july 2007 due to losing his job. It shows as BB on Noddle and 6 missed payments on Equifax. He also has a loan from welcome which he stopped paying early 2009, again they have not declared a default but 6 missed payments.

What im wondering is will this still be removed six years from his first missed payments or as its not showing as a default will it end up showing indefinately intil we finally manage to pay it which could be great deal more years .

Any advice welcome

fermi

They should NOT report a string of 6 missed payment instead of recording a default.

Unfortunately companies do deliberately do this in order to screw you credit record for longer than they should really be able to.

Read these links.

https://forums.moneysavingexpert.com/discussion/4070713

https://forums.moneysavingexpert.com/discussion/3172602

The important part from the ICO is:

"A record showing a series of payments as six months in arrears when this does not reflect the real payment history should not be used as an equivalent of a default"

And here CL Finance doing a similar thing to someone else in this link.

https://forums.moneysavingexpert.com/discussion/3840153

As you can see from the end of those threads, they got the account remove from their or corrected to a properly dated default.

stressedbusymum

Thank you. So to clarify they will only be removed six years afer a default date is applied.

The black horse loan we have no account number for, how whould i go about obtaining it

The welcome loan we have been making very small token payments through a DMP, this was started after already missing nine payments so should of been defaulted, yes? I will write a complaint to them but i have had no luck in getting a reply from them by email and letter over other matters. I cancelled the dmp in August in order to do it myself and have been writing to arrange direct payment to them which thery are ignoring.

Oneday77

The black horse loan will become statute barred next year if no payments have been made in 6 years to acknowledge the debt. I would ignore that one for now.
As for welcome, write, make an official complaint asking about the complaints procedure, send it recorded and await a response. If you get nothing in 2 weeks, write again stating you'll go to the ombudsman and do so if still no reply.