Chances of getting default removed

DJon_2

Hi guys
I was just wondering if anyone had any luck in getting defaults removed recently? I have a Default on my loan from Nationwide which has been satisfied for over 2 years now, but is still there ruining my credit report. I have wrote a letter explaining that I was young and didnt fully understand the consequences of a loan etc. etc. asking for a gesture of goodwill to remove as I know people USED to have a lot of luck with this. I have had response saying no, we have a duty to give accurate and correct info to credit agencies etc. I'm not giving up and writing another addressed directly to the company secretary and will keep trying, as I think its so unfair to have a default on for 6years for £500. Especially when I had it when I was 18 and had no idea about any of these things.
Young and Naive
Anyway, my question is has anyone had luck getting defaults removed under these circumstances? I've seen about 4 or 5 years ago a lot of people did but worried now they've stopped doing this?
Also how badly will a default affect chances of getting a mortgage?
Thanks for your help!

DevCoder

It would be wrong for it top be removed as its an accurate picture of what happened, no amount of writing will change that.

Defaults do effect mortgage applications, satisified defaults are slightly better, youd be best going to a mortgage broker.

simeyb

I'm afraid you have no chance - as per above post it is accurate and Nationwide do have to record this

arbroath_lass

DJon wrote: »

I'm not giving up and writing another addressed directly to the company secretary and will keep trying, as I think its so unfair to have a default on for 6years for £500.

I actually think it is even more important that lenders know you haven't/couldn't pay back £500.

DJon_2

The original loan was for more, however that was the balance when it defaulted. As said I was young at the time and never understood the consequences. Thanks for your friendly advice...

arbroath_lass

DJon wrote: »

The original loan was for more, however that was the balance when it defaulted. As said I was young at the time and never understood the consequences. Thanks for your friendly advice...

You posted like it was nothing. It was not nothing. It was £500 that was not yours. I was 18 once too and it would have NEVER occurred to me not to pay my debts. Nothing to do with naivety.

Thrugelmir

DJon wrote: »

The original loan was for more, however that was the balance when it defaulted. As said I was young at the time and never understood the consequences. Thanks for your friendly advice...

Learn from your mistake and move on.

You may be surprised to here that many don't, and merely up end again in the same situation.

Hence why credit files that reflect the facts are important.

DCFC79

DJon wrote: »

Hi guys
I was just wondering if anyone had any luck in getting defaults removed recently? I have a Default on my loan from Nationwide which has been satisfied for over 2 years now, but is still there ruining my credit report. I have wrote a letter explaining that I was young and didnt fully understand the consequences of a loan etc. etc. asking for a gesture of goodwill to remove as I know people USED to have a lot of luck with this. I have had response saying no, we have a duty to give accurate and correct info to credit agencies etc. I'm not giving up and writing another addressed directly to the company secretary and will keep trying, as I think its so unfair to have a default on for 6years for £500. Especially when I had it when I was 18 and had no idea about any of these things.
Young and Naive
Anyway, my question is has anyone had luck getting defaults removed under these circumstances? I've seen about 4 or 5 years ago a lot of people did but worried now they've stopped doing this?
Also how badly will a default affect chances of getting a mortgage?
Thanks for your help!

You tried and was told NO chance so leave it at that.

Its an accurate account of how you ran your account, the fact you were 18 is hardly an excuse is it, should have been more careful. Just learn from it, manage your finances better and you will be ok.

matttye

Same thing happened to me when I was 21. Defaulted on a credit card and a phone contract when I lost my job (no savings). I had no idea what a default was or the consequences of not paying, or that it would still affect me today.

I asked for one of mine to be removed and O2 said no, so I've moved on. They really have no duty to remove such things so just respect their decision and move on.

Feb/Mar 2015 mine will drop off