Lowell / Three / Defaults

Dar1976

Hi all.

So sevenish years ago I had a mobile contract with Three. I had 2 devices so 2 different accounts appeared on my Credit File.

I defaulted on both of them 5ish years ago after Lowell had taken over the repayments.

These both appeared on my file as ‘Lowell (Hutchinson 3G)‘.

Fast forward to a month ago and I decided to pay them off.

Today I have checked my files and seen that the original entries still show with an active default.

But.....

There are two entries for Satisfied against 2 ‘Lowell’ accounts. And 2 Settled entries for ‘Hutchinson 3G’ though these are all in my Closed Accounts section.

So the question is... have they accurately filed these entries as it appears that my accounts have basically reappeared and will take 6 years to drop off?

They appear to have filed the satisfied accounts with a slight change in account number something like xxxx-01 and yyyy-01.

Thanks in advance.
Dean.

PixelPound

Fall off 6 years from the default date not from when you paid off. If you have only paid off a month ago what is the last update date. Most of these companies will update credit files in batches, so it may take a while to update - what's the last updated date on the entries in your file (do you expect them to eagerly run off to the credit file to update your two entries?).

sourcrates

Defaults stay on your file for 6 years, paid or ignored.
Yours are marked as satisfied, and that is the correct procedure.


Hutchinson (3G) Ltd sold the accounts to Lowell, Lowell then took over reporting to your file, you paid, all entries say settled/satified, so all is good.

Dar1976

Apologies for the late reply. Didn’t change the Subscription settings so wasn’t aware of any replies and I’m out on the road, working.

Maybe I misunderstood but I assumed that the original account would change status from Default to Satisfied, not the way they appear to have reported it which implies there is a third and forth account that are satisfied and the original two are untouched.

The closed accounts have recent dates so I assume these will take another 6 years to drop off.

Maybe I’m not explaining it right.

Thanks for reading.
Dean.

Dar1976

Nic...

As in my original post, they have sent updates.

No I don’t expect them to ‘jump to it’ but it’s been done after 5ish weeks.

[Deleted User]

No.
It would only change to “satisfied” if Lowell purchased the original debt.

If they are collecting on behalf of then it won’t change status.

Dar1976

Gary.

I was paying Lowell Directly. I am not sure who owned the debt. Just confused how I have 4 accounts showing for 2 debts (although 2 are in the Closed Accounts section).

Dean

boo_star

Dar1976 wrote: »

Gary.

I was paying Lowell Directly. I am not sure who owned the debt. Just confused how I have 4 accounts showing for 2 debts (although 2 are in the Closed Accounts section).

Dean

When a debt is bought it will be shown as a closed account on your file and a new entry with the same information in the new creditors name will be opened.

Perfectly normal and nothing to worry about.

chanz4

should only be one set for each account not a three set and then a Lowell one

Dar1976

Chanz4.

That was my thoughts too.

But I bow to the superior knowledge of the forumites.

Dean

[Deleted User]

No if Lowell (or any other DCA for that matter) take over the debt they will add their own account for reporting.

But the default date and balance must match that of the original account.