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Jamesdf5

Hi all,

Thanks for taking the time to read my post.

To get to the point the question is: Does a default show as a fresh default on your account every month until your account is settled?
The reason I ask is, I was under the impression the default was 6 years from the start of the default. However, it appears looking at my Credit report this is not the case???

The history:
Approx 7 years ago I took advice from here to get a DMP due to debt issues.

MBNA who were one of my creditors took ages to default me because I was paying a high sum back every month.

When they did finally default me in February 2013, they sold the debt to Link Financial by June.

On my Credit report I am shown as default for MBNA & defaulted under Link Financial.

That in itself seems a little harsh but my biggest concern is the last default on the Link Financial was a year and a half later (Sept 2014).`

Any help/advice would be greatly appreciated

Kindest Regards

James

[Deleted User]

Yes that’s correct.

MBNA will apply the default.

Then when Link took it over they will mark it as defaulted from the original default date from MBNA

Jamesdf5

Thanks Gary.

So to clarify in terms of how long that default will last.

I have to wait 6 years from my final payment to Link rather than 6 years from the original default date?

I'm so annoyed if that's the case. Something I wish I knew before i went down that route!

[Deleted User]

It’s still 6 years from the default date when it will drop off your credit files.

But you’re still liable for the debt if you’ve been paying it up until that time.

sourcrates

It will give you the default date on your credit file.

Six years from that date it will drop off and be gone forever.

typoon21

Yep it will drop off after 6 years.

But after 3 years providing you make all payments on time these are usually not taken into account if its settled and was for a small amount.