Default on Credit Score

dcoote1905

Good afternoon everyone.
Please forgive my ignorance, I am a newbie, if this thread already exists, please point me in the right direction and I will remove.
Basically, back in September 2016 I finally reached out to StepChange to help clear my debt. Around about the same sort of time, Nationwide put a default on my credit history (nice of them). With the help of StepChange, I became debt free for the first time in my adult life in September 2019, however, Nationwide still refuse to remove the default on my credit score. I know it runs out in 6 years and I have a 20 months to go, but it is severely hindering my ability to build my credit score and help me to get on the property ladder. I have emailed them and they have advised there's nothing they can do about it, can't remove it and don't have a choice to put them on. Strange that none of the other banks I owed to done the same...
Is what they're saying true or can anyone help me find another way to have this removed from my history?
Thank you in advance
Dave.

[Deleted User]

You'll need to provide detail on how it came to be there and why you believe it should be removed.

Yahoo_Mail

dcoote1905 said:

Good afternoon everyone.
Please forgive my ignorance, I am a newbie, if this thread already exists, please point me in the right direction and I will remove.
Basically, back in September 2016 I finally reached out to StepChange to help clear my debt. Around about the same sort of time, Nationwide put a default on my credit history (nice of them). With the help of StepChange, I became debt free for the first time in my adult life in September 2019, however, Nationwide still refuse to remove the default on my credit score. I know it runs out in 6 years and I have a 20 months to go, but it is severely hindering my ability to build my credit score and help me to get on the property ladder. I have emailed them and they have advised there's nothing they can do about it, can't remove it and don't have a choice to put them on. Strange that none of the other banks I owed to done the same...
Is what they're saying true or can anyone help me find another way to have this removed from my history?
Thank you in advance
Dave.

Unless you were paying the contractual minimum payments your StepChange arrangement would put you in default so the marker would appear to be accurate (I'm assuming some sort of DMP here) and you may already have been in default prior to this anyway.

What other banks did or didn't do isn't really relevant.  I'd count yourself lucky (not that it matters a whole lot) that they didn't default you, rather than complain that Nationwide did as they appear to have acted appropriately here.

Unless there's more to this story then you'll just have to wait it out or find a broker who deals in adverse mortgages.  With a year and a half left on the default, it's likely old enough that you will be able to find a lender.

dcoote1905

Thanks both. To be honest, the default was valid, I'm not disputing that. I was foolish with loans, credit cards and overdrafts, which got me into the mess. I take the point of perception, I was just trying to see if you could go down a road of having it removed earlier. Kind of like for good behavior after (finally) paying them back the money I stupidly messed around with!

The joy of clearing debt and being debt free is demoralised by a default existing from worse times in my life but I suppose that is the medicine you have to take.
I am satisfied with your response though. Gives me a sense of acceptance rather than one of wrongdoing. Thank you

sourcrates

Look at it like this, you get a fine for speeding, you admit you were speeding, so the fine is valid.
Its the same with your credit accounts, if you miss contractual payments, the creditor fines you by way of a default, you admit you missed the payments, so the default is valid.

These things almost always coincide with personal problems in our lives, however you cannot expect the creditor to wait forever for payment, they are obligated to provide an accurate record of how your credit account has been managed, so removal is not normally possible.

DCFC79

Your not building your score but improve your history which is what lenders see.