Little advice guys please

rizla_king

Stevie_Palimo wrote: »

But can they not add this from 2015 and it show as a default from 2009 meaning it still shows until 2021 ?

Can add it as 2009 if that is accurate but would still come off 6 years after that. 2015.

rizla_king

If a creditor say backdated a default to more than 6 years ago that would result in the CRAs no longer showing the default or the account on reports.

Stevie_Palimo

Default can then be changed into a ccj though so it can appear on your file.

rizla_king

Also the formal default notice they are referring to is likely to be one under the consumer credit act rather than a credit report one. They are not the same thing. The letter is not actually threatening your credit file directly although they probably hope you will mistake that it is. Debt collectors take advantage of the fact that default can mean two different things.

rizla_king

Stevie_Palimo wrote: »

Default can then be changed into a ccj though so it can appear on your file.

Only if they

take court action

and

win the claim

and

you do not pay the CCJ in full within one month

plenty of chances to stop or avoid that happening should it look as if its going that way. This is nowhere near.

AndyPix

rizla_king wrote: »

Also the formal default notice they are referring to is likely to be one under the consumer credit act rather than a credit report one. They are not the same thing. The letter is not actually threatening your credit file directly although they probably hope you will mistake that it is. Debt collectors take advantage of the fact that default can mean two different things.

OOO , Would you mind expanding on this a little as iv never heard of this before ..
So what actually is a consumer credit default that they might be referring to ??

rizla_king

two types of default.

Default Notice under section 87 of the consumer credit act 1974. required on a credit agreement before they can demand the debt back in full.

Default on your credit file. indicates a breakdown in the relationship between you and the creditor.

both use word default but are actually two different things which can happen at same time but dont have to

smdabs

From About Money website...

'
How Collections End Up On Your Credit Report?

Your credit report contains information about your credit accounts, e.g. credit cards, loans, etc. Most, if not all, of your creditors send monthly updates about your payment status to your credit report.
When an account is sent to a collection agency, either the original creditor or the collector updates the account on your credit report with a "collection" status. The creditor doesn't have to tell you that your account is being sent to collections. However, the debt collector does have to notify you that they are collecting the debt before they can take any action.
What Does It Mean For Your Credit?

A debt collection is one of the worst types of credit report accounts. A collection account shows that you have been seriously delinquent on an account. Your credit score will drop if a collection appears on your report. You may be denied for credit cards and loans in the future, especially if the collection is recent or remains unpaid or both.
Debt collection accounts can stay on your credit report for up to seven years. You can lessen the effects of a collection on your credit score by paying it off. As time passes, the collection account will have a less significant impact on your credit. Continuing to pay all your other bills on time will also help your credit score recuperate from a debt collection.'

smdabs

Basically, you need to check asap what your credit report states as it may well show as you are in 'collections' which is an extremely big red flag to have on you - in fact, near enough impossible to get credit if its showing.

Also, a default that has not been paid, is technically still a current default... so would show up as an unsettled debt on your credit report... Not just from when you initially missed a payment.

rizla_king

That is about American credit reports. There isnt an "in collection" marker on UK reports.