Question about a default

amit08

I have 2 defaults that are quite old. One is over 5 years old and one that is over 4 years old. I have known about these for some time. One is outstanding and one is closed. They both show up on my Callcredit credit report. They have previously shown up on my Equifax and Experian credit reports. However, I checked today and cannot see them anywhere on either of the reports. They have been there as recently as the beginning of this year. Is anyone able to tell me why this would be? Does this mean if I can't see the defaults on my report, prospective lenders won't be able to either?


Thanks for your help in advance.

Westminster

Unfortunately it is just likely to imply that those debts are in the process of being sold on to a Debt Collection Agency and they will re-appear soon enough.

The name of the creditor for the defaults will change to the new owner of the debt but the rest of the information (in particular the default date) will be the same.

If you can't see something on your CRA file then a lender wont either - but that is only for pretty much the instant you get your file. The defaults could appear 10 minutes later and when a potential lender then does their credit search of your file, they will get the instantaneous data.

amit08

Westminster wrote: »

Unfortunately it is just likely to imply that those debts are in the process of being sold on to a Debt Collection Agency and they will re-appear soon enough.

The name of the creditor for the defaults will change to the new owner of the debt but the rest of the information (in particular the default date) will be the same.

If you can't see something on your CRA file then a lender wont either - but that is only for pretty much the instant you get your file. The defaults could appear 10 minutes later and when a potential lender then does their credit search of your file, they will get the instantaneous data.

Thanks for your reply. I get your point about the debt being sold on for the open "default" account. But this would not explain the closed "default" account, as this account no longer shows on the credit reports either. Just seem strange to me...

Westminster

I'm not sure what you are implying by a 'closed' default.

If you mean the account is satisfied and you cleared the balance then thats fine. But it doesn't stop the fact that a default occurred and it will continue to be visible until 6 years have passed from the default date.

The same is true of what you may be referring to as an 'open' default.

Whether or not a balance still exists on an account, it will remain visible until 6 years from the default date.

{EDIT}
Ah - actually perhaps I do see what you mean. You are wondering why a satisfied default would go through the process of being 'reassigned' in the same way an active acount would be. Yes that is indeed odd!

amit08

Westminster wrote: »

I'm not sure what you are implying by a 'closed' default.

If you mean the account is satisfied and you cleared the balance then thats fine. But it doesn't stop the fact that a default occurred and it will continue to be visible until 6 years have passed from the default date.

The same is true of what you may be referring to as an 'open' default.

Whether or not a balance still exists on an account, it will remain visible until 6 years from the default date.

{EDIT}
Ah - actually perhaps I do see what you mean. You are wondering why a satisfied default would go through the process of being 'reassigned' in the same way an active acount would be. Yes that is indeed odd!

Yes, sorry for not explaining fully. I mean why would a satisfied default not show up on my Experian and Equifax credit report as it has done in the past. It does show up on my Call credit report? I can't see a satisfied default being "reassigned"...Doesn't make sense.

Westminster

Agreed - that is odd.

Perhaps someone else will be along soon who has had a similar experience.

The only thing I can think of is that the lender with the satisfied default (is this the same lender as the open account?) may have ended their relationship with Experian and Equifax. Although that too would seem strange.

Who is the lender?

amit08

Westminster wrote: »

Agreed - that is odd.

Perhaps someone else will be along soon who has had a similar experience.

The only thing I can think of is that the lender with the satisfied default (is this the same lender as the open account?) may have ended their relationship with Experian and Equifax. Although that too would seem strange.

Who is the lender?

The lender is NatWest.

Westminster

Well I can confirm that my old RBS card still appears on my current Clearscore so you can conclude that NatWest still report to Equifax.

I will be interested to see if someone has a good answer to this one :-)

Movingon5464

Check the default dates. Maybe the one over 5 years old is actually 6 years old and has dropped of your file for that reason. Could the other one possibly be older than you think ?

amit08

Movingon5464 wrote: »

Check the default dates. Maybe the one over 5 years old is actually 6 years old and has dropped of your file for that reason. Could the other one possibly be older than you think ?

That would make sense but if what your saying is correct then I can't understand why it would still be on the Callcredit report. Neither of my defaults - the satisfied and unsatisfied one show on the Equifax and Experian reports. Is there anyway that the information is being suppressed for some reason?

Movingon5464

Maybe it takes longer for Callcredit to update and remove entries. As they are still showing on Callcredit you can easily check what they have registered as the default dates. I would start with that first as could be a possible explanation.