Defaulted account

dumpyboy

I thought after 7 years things would have I proved but every day just seems to be another set back had a defaulted account dated the 2 nd of June 2008 thought it would be gone as people told me it would go after 6 years as in fact I have had 5 of the 7 have gone but this one with sainsbury I am still paying have 4 out of nine left will be 3 in September checked my credit file it still there with a new date the 18 th may 2014 the day of a new agreement complained received this morning

In the same way that other lenders do, we share information about are customers with credit reference agencies. We will let the credit reference agencies know that we have agreed a repayment plan with you . We believe this is important as it shows you have arranged to pay reduced payments to your account. The account will show for six years from settlement date

I contacted the ICO they just looked up my details from my complaint with MBNA and said if there is a arrangement in place it is correct to be shown seems un fair you can have a defaulted account showing for what can be 12 to 15 years seems firms can do what they like

SeduLOUs

your report only gets updated once a month, and the six years is only just up. Wait a little bit longer and I'm sure it will drop off.

It doesn't matter whether it's settled, partially settled or still outstanding, my understanding was that everything comes off 6 years from date of default, regardless of what happens afterwards.

dumpyboy

It worries me the date of default dates now says 18th may 2014 the other defaults were all removed the day after the 6 years ie it should have gone the 3rd June so complained got the reply I posted this morning

fermi

An account should only have a default recorded once.

Was clarified with Experian and the ICO just a short while ago.

http://forums.moneysavingexpert.com/showpost.php?p=65758872&postcount=9

Experian_company_representative wrote: »

We've sought clarification from the Information Commissioner's Office on this and they have confirmed our view that a credit agreement can normally only be recorded as defaulted once on a credit report for a period of six years. If the debt is sold on within this time the original default entry is marked with a 'debt assigned' or 'debt assigned to CAIS member' flag (Experian terminology). The latter is used when the new company is also a data sharer and it can then register a record of the default, same date and amount, in its own name. The flag on the original entry makes sure the default is only counted once in credit rating calculations and other assessments. But, importantly, once the six year period expires the account cannot be registered as a new default again in the future, either by the original lender or a new company.

I hope this clarifies the situation. Erudio has now been made aware of this and ICO has issued new advice to its own advisers.

James J

The above query was regards a student loan, but it applies just the same to any default.

The people at the ICO you talked to obviously had not got that message yet.

dumpyboy

As soon as I gave them my name and postcode they came up with my old complant and told me the same still stands really did not want to know I do not want to go to FOs. As have A r markers with them had not had it looked at do not want to think I am trouble maker if I bring another one to them might phone experian tomorrow see what they can do

fermi

Raise a dispute via the credit reference agency then and complain to the lender.

However, if you are not wanting to insist that the ICO and FOS take it as a new separate complaint eventually, then you may be stuck with it.

Experian_company_representative

dumpyboy - if you'd like to send details we'll have a look at this for you -> customerrelations@uk.experian.com

Thanks
James J

dumpyboy

Account removed guess I have to check with the other CRA just leave one default which goes real soon and 2arrangements for the first time since 2007 felt I got some where today thanks

fermi

Glad to see that sorted.

Welshmum3

Experian_company_representative wrote: »

dumpyboy - if you'd like to send details we'll have a look at this for you -> customerrelations@uk.experian.com

Thanks
James J

James could you please help me, I am in much the same situation.

dumpyboy

Welshmum3 wrote: »

James could you please help me, I am in much the same situation.

I paid a months membership for experin canceled it straight away got them to put a dispute in use in a pre may credit report when date said 2008 worth the 14 .99 still waiting for call credit to remove it but they told me a monthly up date can take six weeks how that's monthly I do not know good luck