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Credit file markers query
anna_1977
Posts: 862 Forumite
Hi
Sorry I am sure this has been asked loads but....
I've just had a default registered on my file, I understand the Default marker drops off after 6 years from the date put on. So what I want to know is what will show on my credit file from now on and what happens to those markers ?
Does that make sense? I'm just wondering if I will have loads of unpaid markers so similar that just stay on there for their lifespan of 6yrs?
Sorry I am sure this has been asked loads but....
I've just had a default registered on my file, I understand the Default marker drops off after 6 years from the date put on. So what I want to know is what will show on my credit file from now on and what happens to those markers ?
Does that make sense? I'm just wondering if I will have loads of unpaid markers so similar that just stay on there for their lifespan of 6yrs?
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Comments
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Hi
The default and any subsequent markers will drop off your credit file entirely 6 years after the original default date.
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
The default will be shown as a red dot every month, instead of a green one. (Noddle)
Basically it just shows the accounts status every month, it's not a new default every month, just a status marker, after six years, it will vanish.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »The default will be shown as a red dot every month, instead of a green one. (Noddle)
Basically it just shows the accounts status every month, it's not a new default every month, just a status marker, after six years, it will vanish.
But the red markers stay on for 6 years each too?
Sorry I'm just trying to get my head round it, I don't think I'll have managed to pay the debt in 6 years...
Thank you so much for the advice0 -
Every trace of the account/markers/default disappears from your report 6 years from the first/initial default date. Even the 6 years worth of following markers, if they are there.
Once dropped off there will quite literally be no trace of the account to be seen. There will be no trace for you or anyone to see that it ever existed.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Every trace of the account/markers/default disappears from your report 6 years from the first/initial default date. Even the 6 years worth of following markers, if they are there.
Once dropped off there will quite literally be no trace of the account to be seen. There will be no trace for you or anyone to see that it ever existed.
Thank you Fermi - I thought that was what Sourcrates meant but wanted to double check
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