Noddle and MYJAR

Rexyphil

Hello all!

I can see some people have had a similar issue to me, but here goes...

I logged onto Noddle today for the first time to check my credit report, as I am hoping to buy a house next year. No major issues apart from I seem to have a two defaults listed from 2011 by MYJAR - I don't know anything about either of these loans, both of which are for £240. This is having a serious effect on my credit score, which is apparently 514.

I clearly will not be able to get a mortgage with these entries on my account, however I believe all defaults are removed after 6 years and will therefore be gone (hopefully!) in January. Does this mean that my credit score will be instantly repaired? And should I begin the process of appealing this default, or just let it fall off my account? I really don't know what is for the best.

Any advice or help greatly appreciated. Many thanks.

Arleen

First and foremost credit score is commonly known as "random number generator" for very good reasons. Second lender don't use your credit score because they cannot even see it, only you and CRA does so it's meaningless.

But defaults on your credit file will sure not be viewed positively by the lender, and indeed after 72 months from the default date they will just go "!!!!!!" and disappear, having no bearing on your score anymore. But I would not just leave it and wait, because if you didn't take a loan from MYJAR (which looks like a payday loan company) then someone did with your details, and they potentially do so again.
So I would start by contacting MYJAR and reporting CRAs for details of those loans, and if you trully did not take them out and just forgotten since, then you are a victim of identity theft. So take all the payperwork and head off to the police and report it, as it is very serious crime. It is also worth to give action fraud a ring, they have plenty of helpful info about this: http://www.actionfraud.police.uk/fraud_protection/identity_fraud

As they also recommend you should request credit report from all major CRAs as there may be more surprises waiting for you.

sefton

Previously known at TxtLoan the company has rebranded to MyJar