Help with defaults?

Kittykat10

Hello,

I wonder if someone can help me. I'm usually a lurker but finding ithe difficult to find the answer to my own question.

I have signed up with Noddle for free credit reports. I have had a look at it really closely and I'm wordering what happens to my defaults.

Here is an example of what's on my credit report;

Account start date
13/10/2010
Account end date
22/04/2014
Opening balance
£ 920
Repayment frequency
Monthly
Date of default
13/04/2012

I know defaults take 6 years to disappear from your credit report. Will this default disappear on 14/4/2018 or 22/4/2020?

Thanks for any replies

fermi

2018 based on that info

Kittykat10

Thanks for the reply. I don't know if this will change the reply, I was paying off the debt in installments, £50 a month - every month up until when the balance ends at Zero in April 2014 says DF for default, does that mean 6 years from that date??

Thank you

Kittykat10

P.S what's the difference between Settled and Satisfied?

CKhalvashi

Kittykat10 wrote: »

Thanks for the reply. I don't know if this will change the reply, I was paying off the debt in installments, £50 a month - every month up until when the balance ends at Zero in April 2014 says DF for default, does that mean 6 years from that date??

Thank you

No. The default date is 2012, which should be around 6 months of missing payments, and this does not change once the debt is paid.

Kittykat10

Hiya,

Thanks for this reply. So the default will be wiped off 6 years after 13/4/12 and the little DF's on my credit file until 2014 won't count?

CKhalvashi

It's the first date of the default, once per account.

If there are separate accounts that have defaulted, each account will drop off 6 years from that date.

fermi

Please see this link --> https://forums.moneysavingexpert.com/discussion/4756875

Kittykat10

Fermi,

That is so helpful thank you so.much.

How quickly from those defaults dropping off my account would I see a difference on my credit report?

Thanks

hippychick1

The effect is immediate. If you check your credit report on 14/4/18 the account with the default should have disappeared. This is what happened with my default and my husband's bankruptcy. It would be as if you had never defaulted.

Kittykat10

Thank you so much. Seems like the future is 2 years brighter than I thought :j