Default on credit report

theatretony

Hi Guys,

I have an account that says default on my credit report. I have been paying off the arrears and got up to date about 4 moths ago. They are still marking each month ie. March to June as defaulted - is this correct? I am no longer in arrears so should it show as payment on time?

fermi

Unfortunately what they are reporting is correct. Once the original agreement is broken, which is what the original default and status markers record, informally catching back up to where you should have been under the original agreement does not undo the fact that the agreement was and is still in a technical sense broken. i.e. you can't undefault on the terms of what a default on your credit report means.

Once defaulted the monthly status marker remains a D or 8.

It's just the way these things are recorded on credit reports.

00bagiera00

I think I have a similiar problem but it involves two companies. I defaulted on my MBNA credit card and then Moorgate took over the debt. I had an agreement with Moorgate which I held to with no problems and paid it all off. On my credit report, all the payments to Moorgate are listed as Defaults. So although I only defaulted on the agreement with MBNA, my credit report states that I also defaulted to Moorgate. I wondered if Moorgate and MBNA are the same company and could do this - I asked about this in a separate post but no one has answered yet!