Help with old default

xleannex19

Hi there,

I wondered if anyone could advise on the following. Apologies in advance if it’s a bit long winded!

I have recently had a default removed which was issued by RBS on 01/12/2007 as they agreed it was applied incorrectly.

Experian have completely removed the account so there is no record that I ever had an account with RBS or had a default. Equifax on the other hand have simply removed the default marker and the account itself is still showing on my credit report. They have changed 01/12/2007 to the settlement date rather than the default date. The problem I have is that although the default marker itself has been removed, the account name is ‘Current Account from RBS Defaults’, so I am concerned that creditors will see the name of the account and know that there was once a default there even though it has now been removed.


I don’t even know if creditors can see who else you have accounts with when you apply for credit, if they don’t then there isn’t any real problem here, but if they do then should I speak to RBS to try and get this sorted?


I also have two settled mail order accounts, one is showing alot of Q’s but I am unsure what they mean and if they will have a negative impact? The other is showing a couple of Q's and 4 '1 payment late' markers from 2009/2010.


How badly will the above affect me? I am hoping to apply for a mortgage in the next 6 months.

Thanks in advance for any advice.

fermi

As far as I recall, potential creditors running a search just see the account type (i.e credit card etc) and do not see the name of the lender.

Q = An account which is in query or dispute over part or the whole of the balance. This could be for a number of reasons.

xleannex19

Thanks fermi

So will potential creditors view these Q's as a negative? Do you think its worth trying to get them removed?

stclair

Ideally Experian shouldn't have removed the account altogether they should have just made the appropriate amendments. So ideally that's good news for you.

rartherinv

It is also my understanding that lenders doing a search will only see the account type, so it should not have any negative affect on your scoring. Also, it will disappear from your report at the end of this year (6th anniversary) so nothing to worry about imho

matttye

xleannex19 wrote: »

Thanks fermi

So will potential creditors view these Q's as a negative? Do you think its worth trying to get them removed?

Not necessarily. They might want to know more about them if your application is deferred for a manual decision.

Was there actually a query over the balance on your part?

xleannex19

Hi mattye,

There was no query from me regarding the balance, will this be a problem?

How easy is it to get these markers removed? I'm assuming it'd be easier than getting a default removed

matttye

xleannex19 wrote: »

Hi mattye,

There was no query from me regarding the balance, will this be a problem?

How easy is it to get these markers removed? I'm assuming it'd be easier than getting a default removed

I think you should start by writing to them and asking what they actually refer to.

stclair

xleannex19 wrote: »

Hi mattye,

There was no query from me regarding the balance, will this be a problem?

How easy is it to get these markers removed? I'm assuming it'd be easier than getting a default removed

Was the account ever disputed? Or put on hold? Whilst an investigation took place?

xleannex19

stclair wrote: »

Was the account ever disputed? Or put on hold? Whilst an investigation took place?

I have just spoken to them over the phone and they have advised that the Q markers are due to me not paying the full minimum payments on some occasions.

This was during the period where I wasn't in the best place with my finances (no excuse I know), and payments were due every 28 days which meant then every so often, a payment would be due in the middle of a month rather than at the end after I had been paid so i would pay what I could until payday came round but sometimes by then the payment date had already past.

Any advice?

stclair

xleannex19 wrote: »

I have just spoken to them over the phone and they have advised that the Q markers are due to me not paying the full minimum payments on some occasions.

This was during the period where I wasn't in the best place with my finances (no excuse I know), and payments were due every 28 days which meant then every so often, a payment would be due in the middle of a month rather than at the end after I had been paid so i would pay what I could until payday came round but sometimes by then the payment date had already past.

Any advice?

You may just have to accept that the information recorded is factual.

The account be off your report in December anyway.