CC reporting six years from account closure.

Dandytf

What negative effect does one defaulted credit card included in sc dmp have when it's to be reported 6 years from account closure.
This seems very different from other defaulted and eventually paid off that defaults have already dropped off 6 years from account opening.
Does that mean upto 12 years rather than 6 of negative info.
t.i.a.

Willing2Learn

Not sure I understand your question.  But if you querying when a defaulted is automatically removed from your file, then that should occur once the default date is six years old.  Have you checked your statutory reports to see what they say?  The statutory reports get updated before MSE Credit Club, CreditKarma and ClearScore do.  If the account is being reported in error then you should raise a complaint. 

Dandytf

@Willing2Learn
Seems checkmyfile have updated their style of reporting from each individual account.
Whilst the account in question seems to since updated correctly i.e. reporting until Oct' 20.
(it did recently state reporting 6 years from account closure)
Check this current example.

Arrow

768

closed Oct 2018

Reported until October 2024
marked as DMP is it the case Arrow Haven't defaulted this one.
thanks

Dandytf

Link Financial.

Barclaycard.

768

Reported until 6 years after account closure.

Possibly another one which hasn't been defaulted?

Willing2Learn

You want to ask both creditors (Barclaycard) and Arrow Global (write to the original creditor), to follow guidance and to default the accounts back-dated to when they were 3-6 months in arrears.  If they do not default them, then the toxic accounts will be recorded for several years longer than necessary.  See guidance principals linked below:

http://www.scoronline.co.uk/sites/default/files/high_level_prinicples_document_final.pdf

Dandytf

Not sure they were 3-6 months in arrears before SC DMP was setup.
Maybe when SC passed them over to Link/Arrow  they have since been marked as up-to date (checked mse credit club)

Dandytf

That Oct 20 one is 6 years from default date when it's due to drop off, so that is correct from default date.
I'll need some scanning of various reports today, though I'm not sure if when I entered SC DMP if the cards that were in credit limit were all eventually defaulted, it looks as though one or two haven't applied a default.
Is entering a DMP with SC pro rata payments an official way for defaults to be avoided.

Dandytf

This proves Barclays was never defaulted,

All green tics from Card opening, maybe SC DMP payments covered Minimum payment.

Maybe it doesn't have a Negative effect whilst compared to defaults.

2020

OK

OK

OK

2019

OK

OK

OK

OK

OK

OK

OK

OK

OK

OK

OK

OK

2018

OK

OK

OK

OK

OK

OK

OK

OK

OK

OK

OK

OK

2017

OK

OK

OK

OK

OK

OK

OK

OK

OK

OK

OK

OK

2016

OK

OK

OK

2015

Thanks mser's

Dandytf

Arrow global has all green tics with Equifax+Experian whilst transunion  have DMP markers.
So both mentioned accounts have never been defaulted, and possibly these particular Creditors or Collections Agency's never deemed them to warrant being defaulted.
Nice to add Arrow have this marked S -Settled since 2018 -0 balance.