Help & advice in 2 defaults

CPJ_2

Hi all its my first post and slightly long winded so please bare with me but any help would be appriciated.

I have recently checked my credit file with experian after a long period of paying off debt and finally getting back on track. I thought I'd take a look to see how things were stacking up.

Upon inspection the first thing that jumped out at me was 2 big red default accounts.

Both of the default accounts are Lloyds TSB current accounts which a few years back had gone into an unauthorised overdraft which admittedly was my own fault and I have learnt from these mistakes, the original balances of the amount owed was just shy of £500 on each account and both were satisfied Nov last year. Now although I knew I owed them money and had originally missed a few payments directly to Lloyds TSB I don't recall recieving any default notices, the way the debt was paid back was via 2 seperate debt recovery agencies, which once they contacted me I arranged a suitable repayment plan and stuck to the plans with both until the balances were satisfied.

I'm just after a little clarification as to what happens usually when an account goes into default, as I assumed there would be a late payment mark or two for the accounts but didn't think that it would continue to be classed as missed payments even though I was repaying the balance via a debt recovery company? I do remember every now and then recieving outstanding balance letters from Lloyds TSB while I was repaying through the debt recovery agencies, but upon contacting them they just said it was an automated mailing and for me to continue to pay via the recovery agencies.

Any light shed would be good, because I feel although I done wrong in the first place going into an unauthorised overdraft and missing a few payments that I am being unfairly penalised for 2 relatively small debts.

Also on a side note I had to call experian to remove duplicate addresses as this was causing duplicate credit accounts, would this cause my credit score to be lower than it really should?

Thanks in advance

Tixy

If a debt is passed to a debt collector this is an indicator of a default. The default date should be no later than the date it was passed to a debt collector.

Witha current account there is no legal requirement to send a formal notice of intention to file a default, but in practice banks generally sent letters that made it clear that failure of repay would affect your crdit file or ability to get credit.

CPJ_2

Ok thanks for the reply looks like it's a case of suck it up and ride out the next 4 years.

PWG

These records will stay on your credit file for six years from the date they were first registered. If your looking for credit, there are organisations that will consider you but at slightly higher rates than the high street.