Sunny Default Loan now Settled, what should the status be?

jamesb2492

Hi All,

I, stupidly, fell in to the pay day loan trap and bounced around from company to company, many years ago.

I am finally straight and in the process of rebuilding credit but i have noticed on my Equifax file that the 3 accounts with Sunny are still showing as default. They were fully paid off about 4-6 months agos.

I have other accounts that were defaulted but also fully settled, Equifax shows this as settled not defaulted.

My questions is, do the Sunny loans only show defaulted because they were defaulted and that is it? or should they show settled?

My equifax file also says each account has a small balance left, despite my Sunny account showing me the closing balance for all 3 as £0.

Any help would be greatly appreciated.

James

Willing2Learn

The Sunny account should be marked as defaulted, dated as to when you were 3-6 months in arrears of your credit agreement. The default will be removed from your credit files six years from the date of default. If you have settled the account, then Sunny should have written to you to confirm the account is settled, and at the same time update your file to show that the defaulted account has been settled.

jimbo26

They should be recorded as defaulted and satisfied.

From Experian website

"An account is in default when you have not been able to keep to the terms of a credit agreement. We keep a record of these accounts for six years from the date the lender decided you had broken the terms of the agreement. The lender should have told you that they were registering the account as a default. The details about that account will show how much money you owed on the date when the agreement was broken (the defaulted date) and how much money you now owe. It will reflect any payments you have made to the organisation since the agreement was broken. When the account is paid in full, the information will be updated to read Current Balance: Satisfied’ with a ‘Satisfaction Date’."