Default on Credit Help

Oxford1

A number of years ago I defaulted on a loan I had with a bank, whom subsequently listed it as a default and sold it on to a credit company to collect the debt called MKDP. Since my account has been with them I have not missed a single payment, yet on my credit account they list me as defaulted every month. Is this fair or correct? The debt has reduced from nearly 3k to now under 1k, so the value has decreased. Surely they shouldn't list my account as defaulted with them because I've never missed a payment?


Any help or advice would be appreciated, as I feel I'm being hard done by here. This is severely impacting my credit score, which I'm desperately trying to improve.

fermi

Yes, it is correct. It is what should show in your case.

They are not "new" defaults. Just status updates on the original default.

Monthly status markers on your credit report relate to how you are paying under the original credit agreement, not any informal agreement you later come to with the creditor or a collector.

The original credit agreement was defaulted, which cannot be undone, so the status stays default each month.

It is confusing to see it displayed in this way, but it's just a quirk of how these things are displayed on reports.

The defaults and account will still drop off your report 6 years from the original default. So this is not prolonging anything longer than it should, or doing any extra harm to your report or "score".