Defaulter Credit account on Credit Report

trenton

I had a defaulted credit card, which I've paid off(repayment arrangement) but I didn't manage to get the creditor to remove it from my credit report.
If I close my Bank accounts, utilities, unregister electoral and change my name and move house, open a new bank account and take upon new utility payments. Would it be traceable back to my old name? (DVLA, Passport and HMRC' will have the name changes only.)
The reason why I want to go for this drastic move, because I am planning to apply for a mortgage in the next 2 years.

Thank You

[Deleted User]

Yes. And even if not, lenders won't give a mortgage to soemone who didn't exist two years ago.

mwarby

Fairly sure your mortgage application would ask if you have been known by any other name, if you were to change your name and say no, that would be fraud. When that fraud is uncovered you'll struggle with credit or even a basic bank account for some time

A single settled default may not be end of world, you say you want a mortgage in 2 years. It's not clear from you post when you defaulted, but it will come off 6 years from that date, until then it will show as settled

GingerBob_3

The underlying issue is, of course, that the CRA reporting regime is so punitive and unfit for purpose that's it's now driving people to take these drastic steps.

trenton

zx81 Study the 2008 credit crunch...haha

trenton

I never had a default or any issues with paying bills or credit.

I went back to university to do a career change, while i was studying i got redundant. I had £300 on my credit card unpaid which due to no payments developed into a £1054 over a year. Just before the default I got a job. I contacted the credit card issuer and the representative told me i can have 30 days delay. However when I phoned up in 28 days time the other representative explained that was not the delay of the default but the delay of making repayment arrangement. This is still in dispute and Financial Ombudsman investigating it.

Yes I am aware of the 6 years expiration period.

So how much effect the default has on my account? It is major?

DCFC79

When was it you defaulted ?

trenton

This Year February

mwarby

trenton wrote: »

I never had a default or any issues with paying bills or credit.

I went back to university to do a career change, while i was studying i got redundant. I had £300 on my credit card unpaid which due to no payments developed into a £1054 over a year. Just before the default I got a job. I contacted the credit card issuer and the representative told me i can have 30 days delay. However when I phoned up in 28 days time the other representative explained that was not the delay of the default but the delay of making repayment arrangement. This is still in dispute and Financial Ombudsman investigating it.

Yes I am aware of the 6 years expiration period.

So how much effect the default has on my account? It is major?

did you make minimum repayments (or had ppi or similar which done this for you) if not even without the default a year of missed payments will make a mortgage difficult

mwarby

If I was a mortgage underwriter, and saw someone who struggled with a £300-£1000 debt, I would wonder how well they can cope with tens of thousands of debt

trenton

If I was a mortgage underwriter, and saw someone who struggled with a £300-£1000 debt, I would wonder how well they can cope with tens of thousands of debt

I had no income due to struggle as I was at university. Every other bill was paid and on the dot for the last 12 years.
But hey if you are an underwriter and that is the logic they follow, then i am not going to argue but someone from the investment sector and statistical/analytical background would argue your approach.