Feels like i'm loosing the battle

rizla_king

jessie4109 wrote: »

In all honesty I don't think this will come off my report now until another 6 years. The account wasn't settled in the 6 years the account was defaulted so now I will have to wait until 6 years from settlement date, so 25th May 2019 until this thing leaves me. All my future plans gone up in smoke now. Only hope is that the complaint I sent to Natwest will help but I highly doubt it. I just feel like I shouldn't have bothered paying anything back and have let it gone SB!!!

Not wishing to be critical, but that is just a bit over dramatic and pessimistic.

You know it was recorded as a default before. You can prove it was recorded as a default before. You know that it being changed now is very wrong. So you can complain to Natwest and take the matter to the FOS and ICO if needed.

matttye

jessie4109 wrote: »

In all honesty I don't think this will come off my report now until another 6 years. The account wasn't settled in the 6 years the account was defaulted so now I will have to wait until 6 years from settlement date, so 25th May 2019 until this thing leaves me. All my future plans gone up in smoke now. Only hope is that the complaint I sent to Natwest will help but I highly doubt it. I just feel like I shouldn't have bothered paying anything back and have let it gone SB!!!

You have a RIGHT to have that crap removed from your report, don't let them bully you.

Tixy

I have seen other debt collectors do this sometimes when a debtor partially settles a debt.
They remove the original default and they debtor gets stuck with a partial payment marker on their credit file for a further 6 years.

It should be fairly easy to rectify with a letter of complaint to whoever is currently reporting the entry to your file (whether thats the debt collector or original creditor).

There are some full & final settlement templates around that actually ask the creditor to remove the default from the credit file as part of the settlement offer, presumably you didn't use one of those when you made your offer?

jessie4109

I've read somewhere online that the credit record should be updated to reflect the current account balance and most recent payment received. If the debt is not settled within a six-year period but the account is still active, the account will remain on the credit report with the outstanding balance and record of most recent payment, hence the 6 months in arrears. Would the loan be classed as still active if I was still paying? It got passed to a debt collection agency but i'm not sure if that means that the account was closed and then sold on or not.

matttye

jessie4109 wrote: »

I've read somewhere online that the credit record should be updated to reflect the current account balance and most recent payment received. If the debt is not settled within a six-year period but the account is still active, the account will remain on the credit report with the outstanding balance and record of most recent payment, hence the 6 months in arrears. Would the loan be classed as still active if I was still paying? It got passed to a debt collection agency but i'm not sure if that means that the account was closed and then sold on or not.

That's not correct - defaulted accounts should drop off your credit report, paid or not, within six years of the date of the default.

Edit:

http://www.experian.co.uk/consumer/faq/CA1.html#q629

"We hold open accounts indefinitely. Once an account is closed, we hold it for six years from the settlement date. We also keep defaulted accounts for six years from the date of the default. The current balance on a defaulted account should show if payments have been made since the default or if the account now been fully paid."

rizla_king

If it was previously recorded as a default then it should stay that way and be removed 6 years from the default date. No exceptions.

Thrugelmir

jessie4109 wrote: »

I've just checked my updated noodle report and now this too is showing as 6 late payments. I just want to cry.

If you are in arrears in making the required contractual payments then this is factually correct.

matttye

Thrugelmir wrote: »

If you are in arrears in making the required contractual payments then this is factually correct.

Right but so is the default. If they add late payment markers, they should still have left the default on the credit report. By removing the default, they are removing factual information and effectively worsening the OP's position.

fermi

jessie4109 wrote: »

I've had enough trouble with this account and not having the default date applied with Experian last year and managed to get it put on this March right before it dropped off. At the same time Equifax had it recorded as defaulted!!!

So you got this account amended and correctly marked with a default a few months ago? (default dated 6 years ago)

If so, then I suspect the reversal of that is just down to Natwest's systems automatically resending the old incorrect date in their monthly update to the CRAs. That sort of thing unfortunately crops up reasonably often.

i.e. that as a result of a dispute, the creditor sends a one off update to correct something. Here marking correctly as a default 6 years ago. However, unless they also make updates to their normal system to reflect the new status, the next time their regular monthly update is sent it reverts the status and previous changes.

If the above is the case, then it should in theory be a very simple thing for Natwest to sort.

jessie4109

Last year I queried with Natwest why it wasn't marked as defaulted when I checked credit report data. They sent a letter in September 2012 confirming that it should have been defaulted and backdated the default date.

This is when I checked that the default had been applied

http://s1335.photobucket.com/user/jessie4109/media/before_zps49545389.jpg.html

And this is what shows now

http://s1335.photobucket.com/user/jessie4109/media/after_zps861d5b1d.jpg.html

After I had a PPI claim on the account took off the balance on 21st May 2013 this dramatically reduced to amount owed and meant I was in a position to settle the account with the dca. I was not aware at the time that this had been put on my report.