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When will default drop off?

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obay
obay Posts: 570 Forumite
in Credit file & ratings
I am slightly confused about this as I've got 3 dates posted.

Account started 03/10/2011
Default Date 03/07/2012
Default Satisfaction Date 29/10/2012

When will this default drop off? I really have no idea..
[STRIKE]1/12/16 - £152,599.00 [/STRIKE]
[STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
11/11/18 - £142,074.00
Barclays Car (5.99%)£0/£8,832.37

Comments

  • StopIt
    StopIt Posts: 1,470 Forumite
    6 Years from default registration. So in this case, 03/07/2018.

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
  • obay
    obay Posts: 570 Forumite
    StopIt wrote: »
    6 Years from default registration. So in this case, 03/07/2018.

    damn! I thought it would be this year! :( (because the account should be removed this year)?
    [STRIKE]1/12/16 - £152,599.00 [/STRIKE]
    [STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
    11/11/18 - £142,074.00
    Barclays Car (5.99%)£0/£8,832.37
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Why do you think the account will be removed this year? It didn't default until 2012.
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    Who told you it would be removed?
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • obay
    obay Posts: 570 Forumite
    fermi wrote: »
    Who told you it would be removed?

    martin lewis? lol
    [STRIKE]1/12/16 - £152,599.00 [/STRIKE]
    [STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
    11/11/18 - £142,074.00
    Barclays Car (5.99%)£0/£8,832.37
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    obay wrote: »
    martin lewis? lol


    Where? When?

    Martin knows very well that defaults do not 'drop off' until 6 years from the recorded default date, so if that was said/written, it would be an error or misunderstanding.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • StopIt
    StopIt Posts: 1,470 Forumite
    obay wrote: »
    damn! I thought it would be this year! :( (because the account should be removed this year)?


    What? No.


    An account is only removed if it is closed, be it via settling or defaulting. It doesn't disappear 6 years from when you opened it. I mean if that was the case everyone would likely lose track of active Credit Cards as once you've opened it, you generally keep it for a long period of time.


    Martin Lewis would have never, ever said that an account drops off 6 years from opening so I'm afraid you've alas likely misunderstood. Defaults always drop off 6 years from registration of the default, regardless of when an account was opened.

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
  • obay
    obay Posts: 570 Forumite
    yeah, the account is closed maybe i got different information but i thought after 6 years of the closed account it will drop off?
    [STRIKE]1/12/16 - £152,599.00 [/STRIKE]
    [STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
    11/11/18 - £142,074.00
    Barclays Car (5.99%)£0/£8,832.37
  • StopIt
    StopIt Posts: 1,470 Forumite
    obay wrote: »
    yeah, the account is closed maybe i got different information but i thought after 6 years of the closed account it will drop off?


    The account closed when it was defaulted. A default IS the breakdown of an account because of a breach of the T&Cs by either side.


    The first date you quoted is the date an account was opened and is totally irrelevant to when it leaves you files. I still don't see why there is any confusion.

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
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