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Defaults - Is this normal?
MottledDebt
Posts: 27 Forumite
Hi everyone, hope you are having a good Monday so far! :beer:
I started a DMP with Stepchange in 2016, and it has been ticking over nicely since. I just checked my credit report and when I took out the DMP, Natwest and Capital One pretty much issued me with an instant default on the account (which I knew about)
However, looking at my credit report on Noddle, both providers have been marking my file as Default every month since. Is that normal? I thought they issued one default and that was that.
Will the defaults disappear when I have finished paying the debt?
thanks!
I started a DMP with Stepchange in 2016, and it has been ticking over nicely since. I just checked my credit report and when I took out the DMP, Natwest and Capital One pretty much issued me with an instant default on the account (which I knew about)
However, looking at my credit report on Noddle, both providers have been marking my file as Default every month since. Is that normal? I thought they issued one default and that was that.
Will the defaults disappear when I have finished paying the debt?
thanks!
0
Comments
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MottledDebt wrote: »Hi everyone, hope you are having a good Monday so far! :beer:
I started a DMP with Stepchange in 2016, and it has been ticking over nicely since. I just checked my credit report and when I took out the DMP, Natwest and Capital One pretty much issued me with an instant default on the account (which I knew about)
However, looking at my credit report on Noddle, both providers have been marking my file as Default every month since. Is that normal? I thought they issued one default and that was that.
Will the defaults disappear when I have finished paying the debt?
thanks!
You will get those lovely D's on your credit file for six years from the date of default. It is one default date and creditors are not issuing new defaults.... that's just how it is reported. Nothing to worry about
A debt can only be defaulted once DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j0 -
Hi,
Once a default is registered it stays on your file for 6 years.
The CRA`s just report status updates every month, its the same default, date of default will be clearly displayed on it.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »Hi,
The CRA`s just report status updates every month, its the same default, date of default will be clearly displayed on it.
Ahhh so it is! thank you 0
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