Ongoing default for £0 every month - normal?

TheSpaniel

I defaulted on something a few years back due to being out of the country and so I paid it off in full over a year ago and settled the debt. Ever since then the company continues to report a fresh default of £0 every month - with a red dot on Experian. I have contacted Experian and they say it shouldn't be happening yet when I wrote explaining with all of the evidence and complaint, and then spoke to the debt agency, they assure me, and so does their compliance officer, that this is correct and will continue for 6 years. I understand that defaults STAND and affect crediting ratings for 6 years but is it right that they are reported afresh every month for 6 years? The agency assure me that it is correct that they keep reporting a default for zero pounds every month even though I am paid in full now. Does it then further impact my credit rating for another 6 years after that - making a total of 12 years?

Thanks - I'm quite confused as I am being told one thing by Experian and another by the agency doing the reporting.

nottoolate

does it say on the report its satisfied? if so then its ok as its just experians odd way of showing things.

equifax and callcredit put a S for satisfied marked in the history. experian dont

TheSpaniel

Hi, thanks for your response, it does not say anything specifically - I tried to show you a screenshot but as a new user I am "not allowed to post with links"

For each month it's just a red circle with the number 8 in it (status code), under which is the value "£0"

Edit: Yes it does say "satisfied" but for the other loans I paid back it does not show the red 8 code every month - in fact they stopped reporting any fresh info on the month I paid them off

Experian_company_representative

Hi TheSpaniel

TheSpaniel wrote: »

Hi, thanks for your response, it does not say anything specifically - I tried to show you a screenshot but as a new user I am "not allowed to post with links"

For each month it's just a red circle with the number 8 in it (status code), under which is the value "£0"

Edit: Yes it does say "satisfied" but for the other loans I paid back it does not show the red 8 code every month - in fact they stopped reporting any fresh info on the month I paid them off

This is normal and how an account defaulted would appear on your Experian Credit Report, The default (status 8) will stay on your report because the original terms and conditions weren’t met.

Once the final payment has been made, the default will be marked as 'Satisfied', which shows that it’s been paid, which you mentioned it's currently showing as

The default will stay on our records for six years from the date of default.

I hope this helps, if you would like me to look into the reasons why the other two accounts you've mentioned are showing differently on your credit report then please [EMAIL="uksocialsupport@experian.com"]email me[/EMAIL] your details (name/dob/address) and I'll be happy to help.

Kind Regards
James Jarvis