Default on a Credit Rating - possible to remove it?

paraza

Last year my husband was diagnosed with cancer and an account I held with HSBC went overdrawn. Because of the stress of the situation I let my personal finances slip and left the account overdrawn and didn't pay any money in. Silly I know, but when you're dealing with a situation like a was whilst looking after 3 young children it didn't seem a priority. I've since paid the overdraft off in full and closed the account. My husband is currently cancer free and we are in the process of trying to switch our mortgage to a better deal. However on my credit file this HSBC account shows as a default. I have spoken to HSBC, have explained the situation and have asked if they could remove this default in light of the circumstances. They have refused. Would anybody have any advice if there is anything i can do about this? Thank you for any help 👍

[Deleted User]

You're reliant on a goodwill gesture, I'm afraid.

National_Debtline

Hi Paraza

I’m very pleased to hear that your husband is cancer free, that’s great news. With regards to your default, unfortunately HSBC don’t have to agree to remove the default as long as the information is factually correct. You could ask again and ask them to use their discretion as a goodwill gesture but you may find you get the same response.

There is an option to add a notice of correction of to your credit file to explain why the default is on there (you can write up to 200 words). However a notice of correction may do more harm than good.

The default itself will drop off (along with the debt) 6 years after the date of the default. The older the default gets the less of an effect it is likely to have on your attempts to remortgage. It may be worth speaking to an independent mortgage broker for advice on where you might get the best deal given your circumstances, but make sure you check for any potential broker fees first. Good luck.

Susie
@natdebtline