credit file default ?

rachel123!!

hi :j

my husband and I have been checking our credit scores on Experian website today and we have found something we don't think is right.

an account with studio a few years ago defaulted, and they sold it to moor croft. we paid the balance off about a year ago , so no longer owe any money.

however, the morcroft account on the report, shows as defaulting every month (whilst we were paying it) and is showing as a default every month this year, with a balance of 0, since it was paid off.

surly it should say it was settled last year and not be defaulting every month?

we have spoken to Moorcroft who said the account is closed and its not them, and have spoken to Experian and they said its correct , and the count will default every month for 6 years.

but it dosent make sence as other accounts have shown as settled and closed, even with a default from years ago.

what would be my next step? it almost seems like the account is still open, and someone is updating it every month?

thankyou , hope I have made sense?

m4rc

What does it actually say on the file? There should be a default date, and then for each month there will be a number, letter or symbol - I think Experian have a red triangle with a white exclamation mark in. This means it is still defaulted, but the default date is the date the account defaulted, it isn't actually defaulting every month.

The rules state they can't change the default date, once the register the default they can't keep moving it about or defaulting again, just the once and after 6 years it drops off your credit history.

Hope that helps

fermi

Is it marked as 'satisfied' in the main section of the entry? (not the status codes)

Experian_company_representative

Hi Rachel123!

As Fermi has mentioned, the account should be marked as "satisfied" once it has been paid.

Once an account has defaulted the default status will remain on the report. Lenders may continue to send monthly updates, but any lenders searching your report would know that it has already been paid.

A defaulted account is removed from the report six years from the original default date, which is recorded on the account entry. Receiving monthly updates to the account will not change this.

If the account is not showing as satisfied, contact us so we can investigate.

Kind regards
Neil