What gets recorded after a default "drops off"?

Thrugelmir

ZsaZsa wrote: »

In addition, the FOS seem to think that, as my experian rating is excellent, that I have not been disadvantaged. However, isn't this only an indicator?

You'll need to declare the debt on any applications made. The fact that it doesn't appear on any CRA records may in itself will flag a potential issue from a prospective lenders viewpoint.

ZsaZsa

Thrugelmir wrote: »

You'll need to declare the debt on any applications made. The fact that it doesn't appear on any CRA records may in itself will flag a potential issue from a prospective lenders viewpoint.

Thanks Thrugelmir, it is showing on my CRA, years and years of big red markers. Despite this, my experian record is excellent, but I don't think this is enough of an argument to say that I haven't been disadvantaged.

dumpyboy

ZsaZsa wrote: »

Thanks Thrugelmir, it is showing on my CRA, years and years of big red markers. Despite this, my experian record is excellent, but I don't think this is enough of an argument to say that I haven't been disadvantaged.

What number in the red marker may I ask

ZsaZsa

"6". I was in DMP and for several years HSBC recorded this as late payments. They twice issued notice to default, but didn't actually default the account.

dumpyboy

ZsaZsa wrote: »

"6". I was in DMP and for several years HSBC recorded this as late payments. They twice issued notice to default, but didn't actually default the account.

Xi have the same promblem with mbna , I started dmp late 2007 most excepted it early 2008 most defaulted except Barclays went back to normal payments 2010 settled in 2011 but the payments were all ways show on time with a green ar then okay when the interest went up to normal, mbna showed 6 since March 2008 and still are today they one was settled sept 2014 and one in July 2015 fos ombudsman so ruled as I entered in to a 12 year agreement in Aug 2008 they have the right to report it for that long the ico did not want to know my mp did not want to know , a local law firm wants to look in to but worried about the cost a lot of people on here think that once you defaulted on a payment it should be reported for life,reporting like this breaks I co guidelines, good luck in getting some thing done

ZsaZsa

dumpyboy wrote: »

Xi have the same promblem with mbna , I started dmp late 2007 most excepted it early 2008 most defaulted except Barclays went back to normal payments 2010 settled in 2011 but the payments were all ways show on time with a green ar then okay when the interest went up to normal, mbna showed 6 since March 2008 and still are today they one was settled sept 2014 and one in July 2015 fos ombudsman so ruled as I entered in to a 12 year agreement in Aug 2008 they have the right to report it for that long the ico did not want to know my mp did not want to know , a local law firm wants to look in to but worried about the cost a lot of people on here think that once you defaulted on a payment it should be reported for life,reporting like this breaks I co guidelines, good luck in getting some thing done

Thanks dumpyboy. I'm no longer hopeful that it will be resolved, but I've still got the bit between my teeth. I hope you find a way to resolve your case

rizla_king

dumpyboy is overly pessimistic due to unuasually bad outcome. yours could and should be better

chappers

ZsaZsa wrote: »

"6". I was in DMP and for several years HSBC recorded this as late payments. They twice issued notice to default, but didn't actually default the account.

Well that changes things then.
If you are saying that the account was never defaulted, then the ombudsman didn't really give you the correct information with regards to defaults.
But if your account wasn't defaulted then it will remain on your credit file for as long as it is active and then for 6 years beyond that and if you were making small repayments as part of a DMP then they will mark those payments as late if you are not up to date.

ZsaZsa

chappers wrote: »

Well that changes things then.
If you are saying that the account was never defaulted, then the ombudsman didn't really give you the correct information with regards to defaults.
But if your account wasn't defaulted then it will remain on your credit file for as long as it is active and then for 6 years beyond that and if you were making small repayments as part of a DMP then they will mark those payments as late if you are not up to date.

That's why I feel it should have been defaulted

dumpyboy

chappers wrote: »

Well that changes things then.
If you are saying that the account was never defaulted, then the ombudsman didn't really give you the correct information with regards to defaults.
But if your account wasn't defaulted then it will remain on your credit file for as long as it is active and then for 6 years beyond that and if you were making small repayments as part of a DMP then they will mark those payments as late if you are not up to date.

I understood that the I co guidelines say that the number 6 late payment marker can not be used for ever they expect a default to be issued after 6 months or have I miss understood them