Default rules

hoops77

Can someone clarify for me please.
Have a provident loan I fell behind with about 7 years ago, I have asked for the original default letter as don't remember receiving the letter and the address they have been writing to has the completely wrong postcode.
They have informed me they didn't sent a default letter as they didn't need to as I was in arrears.
In a position to satisfy the debt at the end of the month. And it drops of my credit file in a 1year and 3 months.
I have raised a complaint with the fos regarding removing the default?
Am I in the right ?
Or am I wasting my time

sourcrates

Hi,
Does it show as defaulted on your credit file ?


A creditor can issue a default whenever they choose to, if you have broken the terms of your agreement, you usually get 14 days, from memory, to rectify the default, otherwise it gets recorded on your file, but as I said, they should register it straight away, but don't always do that, you can only complain about the date the default was registered if it is incorrectly recorded.

hoops77

sourcrates wrote: »

Hi,
Does it show as defaulted on your credit file ?


A creditor can issue a default whenever they choose to, if you have broken the terms of your agreement, you usually get 14 days, from memory, to rectify the default, otherwise it gets recorded on your file, but as I said, they should register it straight away, but don't always do that, you can only complain about the date the default was registered if it is incorrectly recorded.

If I'm honest don't know, showing as a default. If I satisfy it start it the clock again or will it drop off after 6 years.
I was told that you have to issue 14 days notice on a default ?

sourcrates

You really need to check your credit file first.
There are 3 credit reference agencies :


Experian
Equifax
Noddle (call credit)


Noddle is free, register on there website, the other two you can get a £2 statutory report from there websites.


Lenders may use just one of these, or all 3, best to check them all to make sure.

hoops77

It shows as default, just can't remember when the defaulted hence I asked for the letter.
On experian it has a year and 3 months to go

sourcrates

melhuish77 wrote: »

It shows as default, just can't remember when the defaulted hence I asked for the letter.
On experian it has a year and 3 months to go

You should be able to find the original default date from your file, once defaulted, it will drop off your file six years from when registered.