We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Can you explain defaults to me please

Options
What is classed as a recent default?

If on my credit file there are defaults showing up for May and June are they still classed as recent if the account was opened in 2012?

Thanks

Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    edited 15 July 2014 at 1:40PM
    Which credit reference agency did you use to check your credit file?

    By default do you mean an actual default entry or do you mean missed payment markers?

    A default will show a default date on your file if it is and the status field will show as 'default', the payment history will likely show a 'D' or an '8'.

    A missed payment marker will generally show a '1' or '2' marker in the payment history section.

    If you have a missed payment in May/June this year then yes that would be classed as very recent and likely to make it harder to get accepted for new credit.

    If you have a default registered in May this year then that will continue to show on your credit file for 6years from the date of default and will make it very hard to get accepted for new credit accounts for several years.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • Sorry, what's the difference between a default and a missed payment marker?

    I am using Noddle
  • Ah I get it now, I have had a deeper look and it's become clearer. Thanks
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.