Default and 'dropping off' dates

Dabooka

Quick query for our resident experts.

I have a pal who acquired a default from Egg back in 2007 although her problems started in 2006. Can I check when it should fall off, as I thought it was the 6th anniversary from when registered. Dates are as follows;

Default date 06/02/2007
Satisfied date 04/09/2007
Updated 04/09/2007

Should it have came off by now or am I wrong and it'll be in September?

And when are we going to get a board for Credit Agencies etc (or is it just really well hidden).

Cheers

fermi

Should have come off on 06/02/2013

• Callcredit often remove a few days or weeks before the date.
• Experian normally remove at midnight exactly 6 years to the day.
• Equifax can take a few week for it update and come off beyond the date.

Dabooka

Cheers Fermi, I'll pass that on.

The_Boss

I think that is wrong - it should be 6 years after it was satisfied, which will be in September.

fermi

The_Boss wrote: »

I think that is wrong - it should be 6 years after it was satisfied, which will be in September.

No. If defaulted, it is 6 years from the default.

BugsyBrowne

The_Boss wrote: »

I think that is wrong - it should be 6 years after it was satisfied, which will be in September.

What are you on about.

Dabooka

The_Boss wrote: »

I think that is wrong - it should be 6 years after it was satisfied, which will be in September.

Fairly sure it is after the default was registered, I was just after confirmation. After all, how many defaults actually get satisfied....?

fermi

Correct. If the account has been defaulted, then it is always 6 years from the default date.

It is only on an undefaulted account that it is 6 years from the settlement date.

It is confusing, and the CRAs don't always make it 100% clear that is what should happen, but that is the way it works.

Anthorn

If you haven't asked whoever the creditor is for the default to be removed due to it being satisfied then it will be 6 years from the default date. But they are not obliged to removed satisfied debts. Expiry depends on the date when the account is updated and removal could be up to a month later.

fermi

Anthorn wrote: »

Expiry depends on the date when the account is updated and removal could be up to a month later.

True (well sort of) for Equifax.

Not true for Experian. Experian have systems in place to automatically remove accounts with expired defaults at midnight 6 years from the default date.

izools

I would agree with the above in that Experian have IME been bang on the money removing defaults but Equifax often need a bit of a kick.

If you don't want to wait for EQ to do it automatically you can raise a dispute via their dispute centre and they'll do it for you manually.