Noddle / Lloyds TSB and Default markers

sirwiggum

I have sent my complaint off to Lloyds TSB.

I'll let you know the outcome.

Thank you.

nicp60

Hi Sirwiggum,
I am in a similar position with Santander and have found the FOS to be very helpful. My update is here https://forums.moneysavingexpert.com/discussion/4595163
in case you find it useful/interesting.

Best of luck getting this sorted, keep us updated!

sirwiggum

Thanks again all for your help.

nicp60, it does indeed look like a similar situation.

After I sent the email, based on fermi's pointers, to Lloyds TSB Complaints Dept, they got back to me today.

They confirmed that as part of the debt management, the overdraft and loan accounts had been consolidated, and that this single account had been paid off and now shows as settled.

However, as the overdraft account was sitting on it's own, it did not receive a settled marker. They are completing an amendment form for this, and are sending a 50pound cheque as means of apology.

I shall be keeping an eye on the account on noddle over the next update period (which I think is around 10th July).

While it probably doesn't really matter, as in December it is getting removed anyway, I feel a little better as it has tidied up the file.

I'll keep you updated further still.

Thanks again

fermi

sirwiggum wrote: »

However, as the overdraft account was sitting on it's own, it did not receive a settled marker. They are completing an amendment form for this, and are sending a 50 pound cheque as means of apology.

Excellent. :T

sirwiggum

So Lloyds TSB did set the account marker to satisfied, and sent a 50 quid cheque.

Strangely, though, my noddle credit rating moved down from 3/5 to 2/5.

In the last month I did unsuccessfully apply for a Santander credit card, and successfully obtained a Capital One / Luma.

Siytek

fermi wrote: »

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

Hi All,

Im pretty confused at the moment! What I am reading on here is what I thought happened regarding defaults dropping off your credit record, the collector I am currently paying has just told me otherwise!

I have a default showing on my Noddle report as expected. I have been paying the creditor 50 quid a month for the last two years and have cleared just less than 2/3 of it. Under the details for it on my Noddle file is the following date:

Date of default: 13/08/2008

I was under the impression that this will 'fall off' my record around 13/08/2014, as that is 6 years from the date of default. Is that correct?

During a negotiation with the collector for a full settlement today, they told me that my default would remain until some time in 2020!! Are they feeding me BS to make me pay up do you think? Will the default remain on my credit report 6 years AFTER I settle the debt? Or will it remain for 6 years from the date of default?

Cheers!

sirwiggum

Siytek wrote: »

Hi All,

Im pretty confused at the moment! What I am reading on here is what I thought happened regarding defaults dropping off your credit record, the collector I am currently paying has just told me otherwise!

I have a default showing on my Noddle report as expected. I have been paying the creditor 50 quid a month for the last two years and have cleared just less than 2/3 of it. Under the details for it on my Noddle file is the following date:

Date of default: 13/08/2008

I was under the impression that this will 'fall off' my record around 13/08/2014, as that is 6 years from the date of default. Is that correct?

During a negotiation with the collector for a full settlement today, they told me that my default would remain until some time in 2020!! Are they feeding me BS to make me pay up do you think? Will the default remain on my credit report 6 years AFTER I settle the debt? Or will it remain for 6 years from the date of default?

Cheers!

If it has Defaulted, with the default date of 13th August 2008, it'll drop off your credit file after 6 years as of 13th August 2014 (this year!).

I'm not sure what the 2020 is about. If the entry hadn't defaulted it would've stayed on til then (I argued about an Arrangement to Pay marker that would've done just this).
Or are they referring to the statute of limitations as to when they can still chase you up for any unpaid debt?

Anyway, they're talking nonsense, the 6 years is from the default date. They aren't allowed to change this date either.

Stewart_78

Yes, they are talking rubbish. If there is a default date then that is that. It's not unusual for DCA staff to be unclear on this.

fermi

Siytek wrote: »

During a negotiation with the collector for a full settlement today, they told me that my default would remain until some time in 2020!! Are they feeding me BS to make me pay up do you think? Will the default remain on my credit report 6 years AFTER I settle the debt? Or will it remain for 6 years from the date of default?

Cheers!

Yes, that is complete BS.

Debt collector frequently lie about this.

It will come off 6 years from the default date whether they like it or not.