Overdraft default/ apex

j2010oe

Just a quick one and thanks in advance for the help - my wife has defaulted on her overdraft and I have a question.

Basically she defaulted on an old overdraft (she forgot she had it when we moved addresses - don't ask!) where she was £600 in the red. When it defaulted in July 2011 it was passed to APEX who tracked us down and she agreed a repayment plan to with them to start in October 2011 and she was paid up in full in August 2012.

Is it right that after the debt was passed to APEX in October 2011 and a payment plan agreed that her credit report shows defaults on every month until August 2012?

If so, it sounds like paying in full back in October 2011 may have been the better option!!

Thrugelmir

j2010oe wrote: »

If so, it sounds like paying in full back in October 2011 may have been the better option!!

There's certainly no benefit in delaying repayment if you can afford to do so. Even if it is interest free.

fermi

j2010oe wrote: »

Is it right that after the debt was passed to APEX in October 2011 and a payment plan agreed that her credit report shows defaults on every month until August 2012?

Ds or 8s each month are not new defaults. They are just monthly status updates on the original default from July 2011. It is correct to show those, as once defaulted that is the only status that applies. Other payment codes only apply to undefaulted accounts.

The original default, history prior and after, in fact every single trace of the account, will still be removed from your report 6 years after the original default date.