Default Advice

wildwood27

Hi all.

First off to say what a great site this is, glad I've come across it.

Anyway, to business, I'll give you a bit of history first.

In June 2003, things were getting a bit tough so I ended up contacting CCCS for advice. Anyway, to cut a long story short, most debts were sorted.. and now I've just got the one long term outstanding one with the Halifax for a personal loan.

Back then the default was from approx £9500 and at the time I was paying of £210 per month. After sending the letter, the account was passed on to a debt recovery agency (whose name escapes me at the minute) and the monthly payment was subsequently reduced to £50 per month.

Now 4 years on I signed up to annualcreditreport.co.uk to see how things were looking, as in my eyes I'd been squeaky clean for a long long time now, everything being paid spot on time. I was horrified then to finally view my report to see that a default had been logged on my file every month since June 03 to the present day

So I suppose my question is... is this right? I thought paying the agreed amount would mean that the account was being satisifed and didn't think that a staggering 45 defaults to this date would be logged.

I'm dissappointed that 4 years on, I still can't get any credit (or none without a stupid APR anyway.)

Any advice is greatly appreciated!

Thanks in advance,
Phil.

CLAPTON

a default stays on your credit file for 6 years from the date of the default.

wildwood27

Hi,

Yes I realise that, but is it right for a default to be logged on my file each and every month, even though a lower rate has been agreed?

Conor_3

Yes. Was like that with the wifes and she was only £6 off the normal payment amount.