Keep being marked as Defaulted payment on my credit file

Ed999

I was in dispute with Freeman's catalogue and stupidly didn't pay a few months. I now pay a company called MoorCroft every month to clear the balance. I've had payments set up with them which have paid for the last 6 months. My credit account is being marked as defaulted payment every month though regardless of the fact that I am paying. This has put my credit score to 1/5 as I check is regularly. I've disputed the entries via Noddle but Freeman's say it is correct to mark the account every month as defaulted payment. There is no entry on my credit file for Moorcroft so I don't even have the option of putting a note on file. Is there anything else I can do? Thank you!

matttye

Freemans are correct, it is right to mark the account as in default each month and it will remain this way for 6 years from the default date. Nothing you can do as it sounds like you did default on the agreement and his is how the default is reported. Lenders will still be able to see that you're making payments towards it but you won't be able to get credit easily until the default drops off after 6 years.

CKhalvashi

Moorcroft are correct.

You need to write to all three CRA's separately for a Notice of Correction. Moorcroft will not be able to do this for you.

fermi

The D or 8 every month are correct.

You have to understand that monthly status codes on your credit report ONLY related to how you are managing the account in line with the original agreement with the creditor.

Once it is recorded as a default then that original agreement is ended. You remain in default no matter what happens then.

An informal agreement to pay off the creditor or collector after default is not recorded. Monthly status simply remains as a default on the original agreement.

Only thing that should show is a regular update on the balance now outstanding.

SuperHooper

I would talk to Freemans/Moorcroft more about this as I know someone in a similar situation.

They owed around £500 and defaulted. The first month after this the started a repayment plan with the company the owed (I'm inclined to say Very but I may be wrong, Littlewoods is a possibility.).

However, although they had been paying, their debt was sold to Moorcroft, and then back to the company, and then back to Moorcroft.

What has happened in the end is that they've been making payments to the company every month, no defaults have appeared. However, the outstanding balance with Moorcroft has not changed. At all.

So Littlewoods/Very claim their is approx £150 outstanding, and Moorcroft have no record of any payments being made.

When she called them they both said they owned the debt, but it turned out the company had bought the debt back and Moorcroft were just chancing their arm that she would pay both.

Might be worth questioning it further.