EGG - Removal of Default Notices

Chemical_Grrl

Ive just spoken to Egg about removing two default notices from my account, I had a credit card with them that has been satisfied for about two years and a loan which the last payment due to be made is August, the defaults are dated March 2002 so I rang them and asked if there would be a possibility of these being removed early once the loan is satisfied, they said that legally they have to stay on there for 6 years unless there was some kind of error which would be the only reason they would be removed, is this correct? I was under the impression that it was at the lenders discretion??

Crown

They are correct that they legally do stay on there for 6 years and uunless it was a error there is no way to have them removed.
What you can do is ask them to mark your file as "satisfied" so that it shows that you did repay the amount.

I would personally not worry about it as you have les than 2 years to go before they automatically come off anyhow

sammy115

There is a train of thought which is discussed on https://www.consumeractiongroup.com which states that CC companies and such should not continue to process data relating to defaults on your account following the satisfaction of the account. CCJ's and payment history - yes but not defaults. I will look for the link for you.........

sammy115

Here it is..

http://www.consumeractiongroup.co.uk/forum/legalities/24013-defaults-proposed-method-removal.html

Chemical_Grrl

sammy115 wrote: »

Here it is..

http://www.consumeractiongroup.co.uk/forum/legalities/24013-defaults-proposed-method-removal.html

If your a member could you possibly cut and paste, its asking me to sign up to view the content, cheers

sammy115

Its quite long - if you pm me your email address I will cut and paste into a word doc and email to you.

CLAPTON

in summary the situation is that there is no legal requirement to hold the default data for six year, its just that they are allowed to if they want to.

Indeed there is no legal require to issue a default in the first place ; again its just that they are allowed to.

so they can withdraw the default but you will probably have great difficulty in persuading them to.

sammy115

Following on from what Clapton has just said - once your contract with the creditor has ended (ie paid in full) they only have a legal requirement to process data relating to bankruptcies, ccj's, iva's and suchlike. There is no requirement to carry on processing defaults.

Chemical_Grrl

Ive got nine months to go until these are automatically removed, im not sure if its worth the hassle thinking about it! Thank you everyone for the information though, its very useful in dealing with my other problem at the moment (see my post Help Needed Ref CCJ)

debtfreedreamer_3

Hi

I am also trying to get a default removed from egg. I askem them to provide me with a copy of the default notice and they said they were unable to, and that they are not required to do this by law as copies of the letters are not stored on their systems. This doesn't seem right to me - did you get told the same information? I've managed to get defaults removed from my file which were made by cahoot without any problems at all, so can't understand why egg who are also an internet bank are causing me problems

rog2

Chemical_Grrl wrote: »

Ive got nine months to go until these are automatically removed, im not sure if its worth the hassle thinking about it! Thank you everyone for the information though, its very useful in dealing with my other problem at the moment (see my post Help Needed Ref CCJ)

Can you ask for these defaults to be marked as 'satisfied'?