Credit report mse?

MakeAChange_2

Hi all,

I use the credit report provided by MSE and I'm confused bout some of the changes, some defaults say ...... DEFAULT/ENDED

Does it mean they have ended or does it mean the credit is ended ?

Thank you

MakeAChange_2

does anyone know this?

National_Debtline

Hi MakeAChange

I’m not familiar with the exact terminology of the MSE credit club however once a default has been registered it will stay on your credit report for 6 years. After 6 years both the debt and default will simply be removed, your credit report will not be marked to say the default has ended.

I’m not sure exactly what the ‘ended’ part refers to but what you need to be looking at is when it will have been 6 years from the date the default was registered. At that point your credit report will improve and it should be easier for you to obtain credit.

Susie
@Natdebtline

Fireflyaway

I can't say but for me I don't think mse is accurate. My score is 997 - excellent. However I have defaults and late payments . clear score say I am fair and noddle rated me poor so regardless of the defaults I wouldn't trust it to be accurate.

MSE_Dan_L

Hi Fireflyaway

I'm sorry to hear that you don't think your information is accurate. There are a couple of things you can to check this out further:

1) Check that you've provided your full history of addresses within your profile (see the settings menu in your Credit Club account.
2) Check that there are no missing accounts from your credit report. If you spot that something that should be there isn't showing, you can raise a query with Experian using the 'need some help' option.

I hope this helps.

Fireflyaway

Thanks Dan. My address history is all there but you are right, the 2 defaulted accounts are not showing. They do with clear score so I'm guessing the lender reported to Equifax but not Experian.
One credit card also shows as being settled on the 14th may 2017. That definitely can't be right as its a date in the future!

MSE_Dan_L

Fireflyaway wrote: »

Thanks Dan. My address history is all there but you are right, the 2 defaulted accounts are not showing. They do with clear score so I'm guessing the lender reported to Equifax but not Experian.
One credit card also shows as being settled on the 14th may 2017. That definitely can't be right as its a date in the future!

Hi Fireflyaway

I've checked this one with Experian. It has asked if you could raise this as query with it via Credit Club using the 'need some help' option, it'd then be able to look into this for you.

MakeAChange_2

Hi Dan, are you able to confirm what the ''ended'' means? Thank you

nwilson101

I have come to the conclusion that credit scoring companies are the biggest bunch of crooks around. Scores go up and down willy nilly and they offer no explanation.

'Owe' supposedly £1 and you are then marked as unpaid by some phone company or some parking fee rip off and even when you settle it damages your report as much as if you owed $10 billion and are a serial rogue.

They never respond and when they do they write rubbish.

As a Chartered Accountant of 40 yrs experience I have given up on them providing any explanation whatsoever.

I have a friend worth £10million and she tells me her score is in the Poor range even though she has cash with her Private banker of at least £5m and has never not paid a bill as she is totally honest and above board.

The govt should do something about this scam which in effect enables these shysters to libel you at will and despite repeated attempts to correct it they do zilch.

However because of the MSE Credit Club I doubt whether MSE will dare tell the truth now as they are locked in corporately with these rogues and I imaigne get huge fees in the millions from the tie up.

"Which?" magazine and the Consumers Association call them a huge con and say it is corporate conspiracy to frighten people and charge them fees to have the libelling end

Ebe_Scrooge

If you really are a Chartered Accountant then you should be aware that the scores are completely meaningless and have no bearing whatsoever upon your ability to get credit. Blimey, how many more times do we have to say it - IGNORE THE SCORE !!!!!!

MakeAChange_2

Nwilson- I just wanted to know what ended meant, not start a war on credit referencing, calm down lol

Ebe- I no the score is meaningless, I'm just trying to work out when things drop off my report, I don't suppose u know what the ended meant?