Multiple defaults on one account

Back_on_budget

I'm currently in a DMP.

Our Noddle credit report is showing that the tesco credit card was defaulted in September. The report however shows default on every month since as well.

Is this correct?

Whilst I won't be in a hurry to get any more credit once we have cleared our debts, we do have a mortgage, and therefore will be looking to get our credit file back in shape as soon as possible to improve the deal we are on. Therefore, if the default marker is wrong, I want to get it corrected sooner rather than later.

fermi

A row of Ds is not a new default every month. It's just a monthly update on the current status.

Back_on_budget

Ok. Thanks

Can I therefore expect to have 5 years of D's by the time I finish the DMP?

I thought it was a good thing for DMP debts to be defaulted early on?

fermi

Yes, but the row of Ds doesn't matter. Once defaulted, that is what should be there until the debt is finally settled.

And yes, it is better for that to happen early on. Means that 6 years after the initial default the default and every record of the account will be removed from your credit file. If that happened later, then it would screw your file for even longer.

matttye

fermi wrote: »

Yes, but the row of Ds doesn't matter. Once defaulted, that is what should be there until the debt is finally settled.

And yes, it is better for that to happen early on. Means that 6 years after the initial default the default and every record of the account will be removed from your credit file. If that happened later, then it would screw your file for even longer.

Noddle is the only one that reports a row of Ds however, which is what confuses people I think

The others just show an '8' (Experian) and a 'D' (Equifax), then leave the rest of the months blank until satisfied.