Has anyone managed to get old defaults removed?

RuFFCuT_RetRo

Hi,

Me and my partner have been saving hard for a mortgage over three years and now have a healthy 20% deposit for a house we are looking at.

However, before we go ahead and try to get a mortgage I want to tidy up my credit rating. Three years ago I was made redundant and couldn't keep up with payments, which resulted in three defaults being placed on my credit file two of which are from CL Finance and one from Natwest.

Ideally I would like them all removed, but if I could manage to get any of them removed I imagine that would be a great help. I currently earn good money and am debt free so this is the only thing I feel can hold us back.

When I found work again I paid them all off in FULL, which looking back on it was a stupid thing to do without requesting the defaults to be removed first, I imagine if I had done that I would have had a better chance.

So the question I am asking, has anybody had any luck getting 3+ years old defaults removed? If so how did you go about it?

I considered complaining to the ombudsman since I was made redundant and I told the companies but they were unwilling to help and just kept adding more money to the total debt as their 'fees'. But I have no evidence to back this up (NatWest was the worst for 'fees').

Any info will be greatly appreciated

Thanks,

Ricky

Tixy

It is very uncommon for people to be able to get defaults removed when they did default on an account, particularly with banks (mobile phone companies/catalogues seem to occasionally be a little more lenient).

Quite a lot of people have been successful in getting late defaults backdated though - so firstly are the default dates fair?

Did your creditors send out default notices before entering the default? Some people try that as a tactic to get the removed, i.e asking the creditor to show a record of a default being sent out. But only debts covered by the consumer credit act have a requirement to send out a default notice and even then there are some instances where the ICO guidelines say that a default may not be necessary.

Have you approached a mortgage broker to see what the chances are of you getting a mortgage whilst they are still on file? That could be worth exploring, especially as you have a reasonable deposit.

BugsyBrowne

Your defaults will not be removed until they've been on your credit files 6 years end of.

RuFFCuT_RetRo

On my file it shows the default was placed 6 months after my last missed payment and the debt was cleared completely after 8 months.

I think they did send letters yes. So there may be a chance of us getting a mortgage even with them on file? If not it's only 2 and a half years before the defaults fall of, so would that mean they basically never happened? Or would they still linger for lenders to see?

RuFFCuT_RetRo

BugsyBrowne wrote: »

Your defaults will not be removed until they've been on your credit files 6 years end of.

Yes I thought that but thought it was worth asking!

BugsyBrowne

RuFFCuT_RetRo wrote: »

Yes I thought that but thought it was worth asking!

Unfortunately you're not the first poster to ask this and won't be the last.

Credit files are a true reflection of someone's credit history I'm afraid.

Tixy

Sounds like timewise they are reasonable.

It is sometimes possible to get a mortgage with old defaults on file, although only from a smaller pool of lenders, and typically not at the lowest rates. Might be worth a chat to a broker. The older the defaults get then the better your chances. It helps that you have a fair size mortgage, and also might help if you are not trying to borrow the maximum compared to your incomes.

After they have dropped off your file then the whole record of the debt will be gone, no potential lenders would be able to see they ever existed.

adamck

I managed to get a Vodafone Default removed from my credit file last week.
It was from around 3/4 years ago and was only for £19.
Due to my previous immaculate payment history with them, they removed it as a 'gesture of good will'.

I am currently trying to get O2 to remove my partners Default off her account.
Then we can finally apply for our mortgage again!

BugsyBrowne

adamck wrote: »

I managed to get a Vodafone Default removed from my credit file last week.
It was from around 3/4 years ago and was only for £19.
Due to my previous immaculate payment history with them, they removed it as a 'gesture of good will'.

I am currently trying to get O2 to remove my partners Default off her account.
Then we can finally apply for our mortgage again!

Pretty sure you're not talking about a default as in the one where the lender sends countless letters requesting payment because with your spotless immaculate payment history £19 would've been paid.

rizla_king

https://forums.moneysavingexpert.com/discussion/4805370

Tixy

It is much easier to get a 'gesture of goodwill' for a small mobile phone default that you were unaware of than it is for defaults from banks where you knew the debt existed but were unable to keep up with repayments.