Default removal date

TWS89

Hi,

If my first default date is 14/5/2009, am I right in thinking that the default will drop off in May 2015? This is based on when the first default is listed and not when the missed payments started right?

How long does it take for it to be officially removed from your credit report?

fermi

Yes, it is 6 years from the original recorded default date.

Experian and callcredit remove pretty much 6 years to the day. Equifax can take a week or 2 longer.

Ive_A_Horse_Outside

fermi wrote: »

Yes, it is 6 years from the original recorded default date.

Experian and callcredit remove pretty much 6 years to the day. Equifax can take a week or 2 longer.

I could well be wrong but i believe its 6 years from the date the account was closed.

so if the default was in 2009 but the account wasn't settled and closed until 2011 then the marker would show until 2017.

fermi

With respect, you are wrong. At least a far as defaulted accounts are concerned.

Defaulted accounts are removed 6 years from the default date. In all cases. No matter what later date they may have been settled on.

It is undefaulted accounts that are instead removed 6 years from the settlement/closure date.

And before you say, yes that does seem a slightly odd way to do things at first glance, but that is the way things work.

Experian_company_representative

Hi TWS89

TWS89 wrote: »

Hi,

If my first default date is 14/5/2009, am I right in thinking that the default will drop off in May 2015? This is based on when the first default is listed and not when the missed payments started right?

How long does it take for it to be officially removed from your credit report?

fermi is right, the defaulted account will be automatically removed after six years from the default date, it will 'drop off' your credit report after the 14/05/2015.

If the default remains on your Experian Credit Report after this date then please get in contact with us.

Kind Regards
James Jarvis

Ive_A_Horse_Outside

fermi wrote: »

With respect, you are wrong. At least a far as defaulted accounts are concerned.

Defaulted accounts are removed 6 years from the default date. In all cases. No matter what later date they may have been settled on.

It is undefaulted accounts that are instead removed 6 years from the settlement/closure date.

And before you say, yes that does seem a slightly odd way to do things at first glance, but that is the way things work.

Thanks for clearing that up - only reason i replied on this was because i have a missed payment marker from 2006 still showing on my report (i was travelling at the time and hadn't moved money quickly enough back home to pay the bill but it was cleared up with 1 phone call). I never missed any further payments and the loan was fully repaid in 2009. the report i have says it will show until 2015 - even though the default was in 2006! in your experience do you think this is incorrect and i could ask to have it removed?

thanks

glentoran99

Ive_A_Horse_Outside wrote: »

Thanks for clearing that up - only reason i replied on this was because i have a missed payment marker from 2006 still showing on my report (i was travelling at the time and hadn't moved money quickly enough back home to pay the bill but it was cleared up with 1 phone call). I never missed any further payments and the loan was fully repaid in 2009. the report i have says it will show until 2015 - even though the default was in 2006! in your experience do you think this is incorrect and i could ask to have it removed?

thanks

If you only missed one payment your account wouldnt have been defaulted, a default is not the same as a missed payment

fermi

Default has a more significant meaning on credit reports than simply a few missed payments. It's when the creditor decides you have irredeemably broken the agreement so they have ended it and called in the credit.

You are far short of that with your one missed payment, so the info remains for 6 years from the settlement.

Ive_A_Horse_Outside

thanks for the replies. that clears it up - and apologies for hijacking another thread but similar issue so thought it best to ask here.