Noddle / Lloyds TSB and Default markers

sirwiggum

So I've just checked my Noddle credit rating.

The last time I checked my credit rating was with Experian, they had a default listed that I expected.

I was with a debt management plan a few years ago, Lloyds TSB had conbined the current account (O/D) with a loan to pay off both via the collections dept. They marked a Default on my account.

I thought I was all paid off, but when I look at Noddle, the account looks like it is still open with a balance of £ 1,352, Status: Default.

Thing is, it is marked as Default every single month.

The date of default is noted as:
06/12/2007

But if I speak to Lloyds TSB, even if I get this thing sorted, does that mean that from this month (June 2013) the Default is still going to be on my account (til 2019)??

fevlo

They can only default you once.
Each subsiquent "D" will just be showing that the account status hasn't changed.
The default will run for 6 years from the date of default

fermi

OK. Two issues there.

(1) The account should be marked as settled/satisfied. If that bothers you between now and December, then you need to raise a complaint with Lloyds to get that changed.

(2) On Noddle/Callcredit a "D" every month is not a new default each time. It is just a status update on the original one from 2007.

So the default and all details of the account will still come off your report by 06/12/2013. That happens even if you haven't managed or bothered to get it marked as settled by that point.

sirwiggum

fevlo wrote: »

They can only default you once.
Each subsiquent "D" will just be showing that the account status hasn't changed.
The default will run for 6 years from the date of default

Thank you. Then what would happen on December 2013 (6 years after Default)? Would it changed to some sort of 'unsatisfied' state?

I'm still quite alarmed as I thought all of my debts had been paid in full.

I'll find my old account details later and give them a ring to see what the craic is.

sirwiggum

fermi wrote: »

OK. Two issues there.

(1) The account should be marked as settled/satisfied. If that bothers you between now and December, then you need to raise a complaint with Lloyds to get that changed.

That's what I'm thinking. The loan account is marked as Satisfied.

I'll contact them later, as I don't have the full account details with me.

(2) On Noddle/Callcredit a "D" every month is not a new default each time. It is just a status update on the original one from 2007.

So the default and all details of the account will still come off your report by 06/12/2013. That happens even if you haven't managed or bothered to get it marked as settled by that point.

Thanks. I want to get this sorted.

fermi

sirwiggum wrote: »

Thank you. Then what would happen on December 2013 (6 years after Default)? Would it changed to some sort of 'unsatisfied' state?

Default and every trace of the account is removed. Even if it still said unsettled up until that point.

fevlo

sirwiggum wrote: »

Thank you. Then what would happen on December 2013 (6 years after Default)? Would it changed to some sort of 'unsatisfied' state?

I'm still quite alarmed as I thought all of my debts had been paid in full.

I'll find my old account details later and give them a ring to see what the craic is.

As firmi says, contact Lloyds and get them to correct the file and show it as settled.
Otherwise, in 2013 it will just dissappear, never to be seen again

sirwiggum

Thank you fermi and fevlo.

You've put my mind at ease a little bit, but I shall still be contacting Lloyds TSB to figure out what's going on.

In a way, it wouldn't surprise me if I did still have a toxic account open, the debt management company I (in hindsight, stupidly) used (in desperation), Allclear / Harrington Brooks were nothing less than a call centre to arrange repayments to debtors, in a shambolic credit-rating ruining fashion.

sirwiggum

I found details of my old overdrawn account called Lloyds TSB last night.

Being their usual unhelpful selves, the accounts department couldn't find it, and the collections department were claiming that it was closed.

I asked why it was still open on my credit file, they said it was nothing they could do.

I requested that they set the account status to satisfied, but they refused to do so, saying that the account was already closed.

I logged into noddle and flagged a dispute with them on this item.

I know the default marker stays from Dec 07 til December of this year, but if nothing happens with this account, would it still show as open?
It is currently showing as an open current account with an overdraft figure.

I thought it was paid, and if it was still open, nobody at Lloyds TSB seems to want it paid :mad:.

fermi

sirwiggum wrote: »

I know the default marker stays from Dec 07 til December of this year, but if nothing happens with this account, would it still show as open?

No, it won't. The whole account will completely disappear from your file. There will be no trace at all of it.

If you want it marked as settled until that happens, then as said you will need to raise a formal complaint with Lloyds.

That is not just talking to their useless staff on the phone, but making a formal complaint in writing/email direct to Lloyds.

You would nee to state that:

- The account in question has been closed and settled.
- The CRA entry from Lloyds currently states that the account is marked as unsettled with an outstanding balance.
- Therefore Lloyds is recording inaccurate and misleading information on your credit file, in breach of the principles set out in the Data Protection Act 1998.
- You require them to update the CRA record to show that the account is settled and that there is no outstanding balance on the account.
- This is now a formal complaint that you will be taking to the FOS and ICO should they fail to update in accordance with their obligations.

sirwiggum

fermi wrote: »

No, it won't. The whole account will completely disappear from your file. There will be no trace at all of it.

If you want it marked as settled until that happens, then as said you will need to raise a formal complaint with Lloyds.

That is not just talking to their useless staff on the phone, but making a formal complaint in writing/email direct to Lloyds.

You would nee to state that:

- The account in question has been closed and settled.
- The CRA entry from Lloyds currently states that the account is marked as unsettled with an outstanding balance.
- Therefore Lloyds is recording inaccurate and misleading information on your credit file, in breach of the principles set out in the Data Protection Act 1998.
- You require them to update the CRA record to show that the account is settled and that there is no outstanding balance on the account.
- This is now a formal complaint that you will be taking to the FOS and ICO should they fail to update in accordance with their obligations.

Thanks. I just found it strange that a current account could default, then, say for example it was your primary account, that account would no longer be listed.

I'll raise a complaint with Lloyds TSB, thank you for the pointers on what to state in this complaint.