defaults on credit report

misskjb

Hello
I was wondering if any of you could help / advise me. I recently joined Experian free trial credit report and noticed that an old account that had been defaulted that I completely forgot about. As soon as I saw this I paid it, in full amount of 37 pounds.
This has subsequently been marked as settled on my credit report and closed
However I note now that even though this account has been settled and closed because it once defaulted it is still have in a huge negative effect on my credit rating and isn't due to drop off for another few years
Long shot but anyone know if the lenders sometimes budge and remove these completely or is this the price I pay? This been stuck on for at least 5 years
Thanks all

fermi

Very occasionally, as a gesture of goodwill. They certainly won't if you don't ask.....

Candyapple

If the default date was 5 years ago then you've only got 1 more year to go before it drops off. Just wait it out.

Experian_company_representative

Hi misskjb

misskjb wrote: »

Hello
I was wondering if any of you could help / advise me. I recently joined Experian free trial credit report and noticed that an old account that had been defaulted that I completely forgot about. As soon as I saw this I paid it, in full amount of 37 pounds.
This has subsequently been marked as settled on my credit report and closed
However I note now that even though this account has been settled and closed because it once defaulted it is still have in a huge negative effect on my credit rating and isn't due to drop off for another few years
Long shot but anyone know if the lenders sometimes budge and remove these completely or is this the price I pay? This been stuck on for at least 5 years
Thanks all

Great to have you with us, a Defaulted account will be automatically removed from your Experian Credit Report six years from the defaulted date, as you've mentioned it has been on your credit report for the past 5 years.

If you wanted to query/dispute the defaulted account that appears on your credit report, please let us know as we would be able to assist you further.

Regards
James Jarvis

misskjb

The account defaulted on 2011 so I have a while to wait before it goes.
I am sure that the majority of the 37 pound is made up of charges anyway!
I emailed Lowell and they have basically said no they cannot remove as they have to make sure everything that they report is correct so looks like I cannot so anything further.
Thanks all for your replies any further advice would be appriciate
Thanks again all