Newbie help please... Multiple defaults and searches recorded

mlig

I've known for a while that both mine and my hubby's credit ratings were poor, and finally decided to do something about it.. Last night I got reports from all 3 for both of us and I have a few queries, and I would really appreciate some help..

I have an account on there from Cabot, I honestly don't have a clue what it's for, but every month for 3 years they have filed the number 8, which experian says is a default. They've not written to me and I don't know what it's for, it's only £102 as well.. Are they allowed to enter this every single month? I'll gladly just pay it but can't until the end of january, will this negatively affect me for 6 years? Or is there any way I can get it removed?

Also, my husbands said that he has 26 recent credit searches, when we've looked, Lowell have credit checked him 5 or 6 times over 2 days every 6 months.. I know they're a debt collector, but again we don't know what it's for. Are they allowed to credit check him so much?

Thank you so much for any help x

McKneff

If you don't know what it's for, find out, if you dispute it, fight it.
If you just pay it, you are agreeing that you owe it and it will stay on there for 6 years from the date of the default.

mlig

Also, I have another default for £54 from t mobile, this is for a wifi dongle and laptop that we bought, i thought it stopped after the 2 year contract was up so cancelled the direct debit, I phoned them and said this, even though I actually paid 2 months too many, and they said that I had to pay for another month while it was cancelled, I said that I'd only used the dongle thing for the first two months and had continued to pay on time every month for over 2 years, and if been told when I took it that it would automatically stop and it hadn't, so they agreed to waive the charge, but I have now found that they defaulted me instead, but have never written to me, is there anyway I can get this removed?

mlig

Thank you for the reply, will it last in my record for 6 years though if i do owe it and clear it?

longtermplanner

Mlig wrote: »

I'll gladly just pay it but can't until the end of january, will this negatively affect me for 6 years?

It sounds as though you have had a debt sold to Cabot and possibly one to Lowell.

What matters most is your overall debt situation, not your credit rating. You need to get a complete list of your debts and also look at drawing up a budget. Can you afford the debt repayments? If you can't (and having debts sold on suggests that you can't) then you have to resolve your debt problem and this is going to mean harming your credit file. StepChange http://www.stepchange.org/ would be good people to talk to about your situation.

If you can afford all your debt repayments, then you need to contact Cabot and ask what the debt is. This may jog your memory, or if it doesnt you need to ask them to supply proof that the debt is yours. And if there is an error on your credit file, get it corrected, see http://www.moneysavingexpert.com/loans/credit-rating-credit-score

longtermplanner

Mlig wrote: »

Thank you for the reply, will it last in my record for 6 years though if i do owe it and clear it?

yes, sorry.

mlig

The silly thing is that when I've checked we don't owe much at all so I can come to arrangements to pay. Both the Lowell and Cabot debts are ones we were unaware of. It just seems unfair that I didn't know about them and they're defaulting me every single month but they've not written to me to tell me :-( and that Lowell are credit checking the hubby numerous times over a couple if days every few months but not writing to him

fermi

Not aware of? Do you mean not yours? Or are these actually yours?

An 8 every month is not a "new" default. It's just a status update on an already defaulted account. Defaulted accounts are removed from your credit reports 6 year from the initial recorded default date.

mlig

I honestly don't know, they're debts that we were totally unaware we had and I don't know what they're for x

Experian_company_representative

The lenders/collectors should be able to tell you what the debts relate to. As fermi says, defaults drop off your credit report six years from the default date irrespective of what happens after that. As for the searches, these should be inquiries that other lenders wouldn't be able to see. Only the footprints left behind when you've applied for credit can be seen by lenders and used to help calculate your credit score.

James