6 years later..

zombeana

I have three defaults on my credit file, from back when I was 18 years old and at university and I was, well..stupid. They have all passed the 6 year mark now, I have settled all but 1 of them but none of them have come off yet.

Edit- the ones settled, were settled in 2009!!

Will they come off eventually? and will the one I have not settled come off too? Should I pay this off now? Or wait? I'm not sure what to do about it.

I now have 1 credit card that I pay off every month and an overdraft I rarely use and no other debts.

Thank you.

john1002

if they are indeed over 6 years since the default date registered(this is the important bit) then yes they should come off automatically, I would get all three credit reports and raise disputes with a view to looking to take it all the way to the ICO to ensure they come off. Hopefully the disputes will do the trick though.

john

zombeana

thank you. who would i dispute it with, the credit reference agencies or the lenders themselves?

The_Boss

zombeana wrote: »

thank you. who would i dispute it with, the credit reference agencies or the lenders themselves?

Go to the CRAs.

Thrugelmir

zombeana wrote: »

Edit- the ones settled, were settled in 2009!!

The account would still be marked as being in arrears for lenders credit scoring purposes. So still might impact applications for new credit lines. Depending on what it is you are applying for. Mortgage lenders are increasingly stringent. As it's the first way of reducing the number of applications to process.

fermi

zombeana wrote: »

I have three defaults on my credit file, from back when I was 18 years old and at university and I was, well..stupid. They have all passed the 6 year mark now, I have settled all but 1 of them but none of them have come off yet.

What date is listed under "default date"?

zombeana wrote: »

Will they come off eventually? and will the one I have not settled come off too?

For any listed with a default, the default and ALL details of the account should be removed from your report 6 years from the original default date. Lenders searching your report would then not see the debt, payment history or anything else to do with the account.

That applies to settled/satisfied and unsettled/unsatisfied accounts alike.

if they are not removed, then you need to complain to the CRA that is still showing them.

If not listed as a default, then it is instead 6 years from any settlement date.

zombeana

Thank you for your replies. The default date for two are April 2007, so I expect these to come off. I have contact Experian, as I have an account with them and have requested my report from Equifax.

The other one is actually 03/2008 so that won't come off until next year.

Once these come off, do you think I would have a chance at getting a mortgage in the next 5 years? I am not intending on getting any more credit than I already have until getting a mortgage. I get declined for all credit currently, I even opened a new bank account recently and was denied an overdraft of £100.

Thrugelmir

Worth considering Nationwides Save to Buy Scheme or something similar offered by other lenders. As it enables the lender to build their profile of you and your money management skills first hand.

Experian_company_representative

We remove defaults as soon as they reach six years old. An updated copy of your Experian credit report will confirm exactly what's currently recorded for you.

James

woodgreen2013

Experian_company_representative wrote: »

We remove defaults as soon as they reach six years old. An updated copy of your Experian credit report will confirm exactly what's currently recorded for you.

James

James can you tell me something please? Can a company who bought your debt still chase you for it after its 6years old?