How will a 5+ year satisfied default affect me?

modder25

Hi all,


I am currently in the process of disputing a default with 3 as I believe it was wrongly registered against me, the item was faulty I gave it back and the person instore said I could terminate the contract but had to pay charges of £34.00.


I paid this and that was just over 5 years ago, I then registered with noddle last week only to find that I have a satisfied default in my name, however this doesn't show up on my Experian credit report... does anyone know why this would be?


I am hoping to buy a car at the end of this year and most of it will be finance, I am hoping for credit of around £15k, I earn £40k per year, have 1 credit card with vanquish all up to date £3000 limit and £50 owing on it, a phone contract of over 10 years and no overdraft with my bank and as far as I can see the only negative thing on my file will be this £34.00 default against my name. Does anyone know if this will affect me getting credit or will they take the date and the fact that it is satisfies into account?


I am asking the above just incase I lose my dispute.


Many thanks for reading and replies are appreciated.

Thrugelmir

Unlikely to impact you if it was that long ago and for the sum involved.

modder25

Thrugelmir wrote: »

Unlikely to impact you if it was that long ago and for the sum involved.

Hi Thrugelmir,


Thank you for your reply.


I am really hoping that is true, I am going to be devastated if I am declined over something so small that I didn't even know I had till last week.


Thanks again

boo_star

Thrugelmir wrote: »

Unlikely to impact you if it was that long ago and for the sum involved.

It depends on the lender, some are OK with settled defaults, some are not.

In these circumstances I'd be pushing 3 to remove the default.

kingstreet

modder25 wrote: »

I have a satisfied default in my name, however this doesn't show up on my Experian credit report... does anyone know why this would be?

Firms often taken information from, and provide information to, only one CRA, so the three versions of your credit file may show different data.

modder25

kingstreet wrote: »

Firms often taken information from, and provide information to, only one CRA, so the three versions of your credit file may show different data.

Hi Kingstreet,

Thank you for your reply.

So would I be best applying to lenders that dont use the callcredit (noddle)?

If so then how do I find out which lenders use who?

Many Thanks

Experian_company_representative

Hi modder25

Good Question kingstreet is correct, You may find similarities between your Experian credit report and one produced by another credit reference agency (CRA), but there are likely to be differences too.

kingstreet wrote: »

Firms often taken information from, and provide information to, only one CRA, so the three versions of your credit file may show different data.

Not all lenders share details about their customers with all three CRAs, this information can differ between the CRAs

If there is information incorrect or missing from your Experian Credit Report you can contact us to query this information plus you may want to check your address links to see if you are seeing a full credit report and provide full address history.

Best of luck

Regards
James Jarvis