Default removed from account

Dennis_B_7791

Hoping for some advice.

I previously posted about my financial issues as a result of paying for private treatment for my wife’s cancer fight, which she subsequently lost in Feb’19.

As a result of putting all money toward this, I had numerous defaults and pay day loans, all of which have now been settled. 

I had previously tried to get defaults removed due to the situation I had found myself in but was flatly rejected by most. However today, I have received an email from Progressive Money stating they will remove my default.

Their decision is on back of a request from me to revise my default start date - I defaulted in Jan’18 and the default marker wasn’t added until Mar’19. I settled the account in Sept’19.

I’m confused. I wanted the start date revised to Jul’18 or thereabouts, which would have meant this default would have dropped from my file on/around July’24. On basis they remove default, am I right in understanding that the default won’t now be Sep’25 (6 years after settlement date). 

The relationship manager seems to be trying to help me but I’m reality this means my file is going to show the missed payments/adverse credit for over a year more than I think it needs too. 

I’d really appreciate the advice. I have numerous other defaults, so I don’t expect having one removed would make any difference to my file

thanks 

Dennis_B_7791

*am I right in understanding that this credit file entry will show until Sept’25

fatbelly

Dennis_B_7791 said:

*am I right in understanding that this credit file entry will show until Sept’25

Yes, it should just show as a settled account till Sept 2025

Dennis_B_7791

fatbelly said:

Dennis_B_7791 said:

*am I right in understanding that this credit file entry will show until Sept’25

Yes, it should just show as a settled account till Sept 2025

So best to push them to change default start date rather than remove default? 

fatbelly

I think it's better as it is.  None of the late payment data should show as that was over 2 years ago. It'll still show after the other entries have dropped off but it should just show as a settled account

Dennis_B_7791

It’s currently sitting as a default with a start date 15 months after my first late payment. They are proposing to remove default completely. 
i didn’t know that late payment date greater than two years old wouldn’t show on settled account. 

Dennis_B_7791

I’m actually more confused now than when I made original post. I have settled accounts that show payment history from start date of loan, so surely if late payments are going to show until my loan falls off file, I’d be better with this loan marked as default and revised to correct default start date. Surely that would mean it would drop off my file earlier? 

I would get no benefit from a default marker being removed?