Voluntary Termination 7 yrs - Default

CLARKR

Hi there, I wonder if there is ANYONE that can advise....we really do need it and would be very grateful.
We have spent the last two yrs saving and paying off debt ready to get a house. I have managed to get my credit file looking good however my partners still has work.
We are trying to go for a mortgage as FTB's with HTB. Stupidly we got out a PDL last year so we are having to wait until October when its a year on since the debt was satisfied. We have tried to go with a lender that will offer a mortgage 9 months after PDL was satisfied however we have ANOTHER issue.
We had to volutary terminate our car agreemant with VW for £444 a month in 2011 and we set up an agreement with them to pay £35 a month until the debt was paid off - still paying now, never missed a payment, however the lender we were going with, uses Experian which shows us as 'default' of £444 a month since 2011. Is there anything we can do about this. We did call them but they said 'thats just the way it is'.We are now trying to go with a lender that uses Eqafax however due to 1. Going through an adverse lender 2. Going through HTB etc etc, our chances are getting more limited with lenders. This is killing us getting a mortage and im worried that until £5,300 is paid off, we wont get a mortage until 2 years AFTER this is paid. We simply cant afford to pay off £5,300 whilst saving but im wondering what our options are. I would be SOOOO graeful for any advice here. Thanks so much in advance.

[Deleted User]

If it was a default, it should have dropped off 6 years after the initial default.

Are you sure it's not an arrangement to pay?

molerat

If the default was applied in 2011 it should have dropped off in 2017, you need to query this with VWF and Experian.

CLARKR

Well as we VTed the car in 2011, and we owed money on the car (although we handed it back) we set up a new agreement to pay £35 back a month so I guess an arrangement to pay?

[Deleted User]

You need to check your files to see exactly what is showing.

The advice will vary depending on the situation.

Willing2Learn

What does the 'Date of Default' on you Experian report say? When was it? Does it actually say 'default'?

CLARKR

It showing as a default but of £444 which the agreement was canceled when we handed the car back in 2011 then we set up £35 a month after that so surely it should show a new agreement of £35 a month? If this is correct and say we are not to get the mortgage what would our best way forward be?

Willing2Learn

What is the 'date of default' on your Experian file please?

[Deleted User]

CLARKR wrote: »

surely it should show a new agreement of £35 a month?

Surely not.

If the default is more than 6 years then it should no longer be there.

CLARKR

Monthly Terms 48 @ £ 443 Status No Payment Due / Unclassified
Payment Frequency Monthly Current Balance £ 5,708
Start Balance £ 30,527 Credit Limit £ 0
Default / Delinquent Balance £ 0 Start Date 09/02/2010
Date Updated 07/11/2017 Date Last Delinquent
Date Satisfied Default Date
Payment
Every month since Nov 2013 Its got a U with a / through it? up until Oct 2017

CLARKR

VW said that as the account is still 'active' i.e we are still making a payment, that it remains on our credit report until satisfied