Bargaining with dca for removal of default

yowordiagree

Hi guys,
I've been looking into possible ways to remove a small default of about 600 pounds from my credit account. I've had a small credit card from HSBC whilst I was studying towards my ba. Unfortunately I missed some payments which ended up causing the debt to be sold to 1st finance ltd. (I've checked that's it's them the default is under by performing a credit check)

I was wondering if anyone had had any success getting an agreement of removing the default once the full amount has been paid. I've since graduated and have secured a decent, secure job with my local authority and am trying to sort this last stumbling block which is the only thing really keeping my credit rating down and which would probably prevent me from getting a mortgage.

Any help or advice would be most appreciated!

National_Debtline

Hi

I believe some people have managed to get defaults removed once the debt is paid off but it seems to be fairly rare. The creditor should record accurate information on your credit file, so if they do anything else it’s at their discretion.

James
@natdebtline

yowordiagree

Out of interest should there be any record of the default with HSBC who I initially had the credit card with? After looking at my credit report it shows my current account which is in good standing but no mention of the credit card agreement. Only the default from 1st finance. I don't even remember ever getting a letter from them stating they were gonna default the account although to be fair this was two years ago now. I don't know whether this would have any bearing on the situation just thought I might add it.
Many thanks

National_Debtline

I would expect to see a default from HSBC if you defaulted with them. Some organisations only report to one of the 3 main UK credit reference agencies though – Experian, Equifax and Call Credit.

It’s best to check the information held by all 3 to get the whole picture. You can check Call Credit for free on www.noddle.co.uk , Equifax for free on www.clearscore.com , and you can get a £2 statutory copy of your Experian report here - www.experian.co.uk/consumer/statutory-report.html

James
@natdebtline