default notice updates

fitnessguy13

Hi all,

I'm brand new to all this so please forgive me if I am posting in the wrong area or what have you.

During 3 years of homelessness due to illness, I defaulted on my Amex credit card. Within they're rights, I now have a default notice on my credit file.
I am now in a repayment plan with them and hopefully in a few years time this will be behind me.

However.. The default notice credit limit remains at £7700. Showing on my credit file as credit that is not only available to me, but also each money I am over my credit amount as the debt its self is over £9000. This paints me in a very poor light to potential new creditors. As if the default notice itself was not damaging enough.
The account in questions was closed in 2018 and it shows on all my new statements as having zero credit available. Amex say they do not need to update the default notice, it must remain true to the date of the default.

But by not reporting it as zero credit available, is it not just telling a lie on my credit reports. I do not have £7700 of credit.  Can some please advice me? 

Also can default notices be served on Po Box addresses? I know that CCJ notices can't be.

Thank you in advance for any advice on this matter.

ThisnotThat

No lender is going to read it the way you are doing.

Reporting it like this is fine, you defaulted which is far worse than being over your limit.

sourcrates

Your confusing "default notice", "default balance" and "default" they are three separate things altogether.

A default notice is a document giving you a certain amount of time, usually 14 days, within which to remedy a breach in your credit account, its a one time sent document, and is required under the terms and conditions of the consumer credit act, before either, your account can return to normal (if breach is paid) or otherwise defaulted (if breach remains outstanding).


As your account remained unpaid, the "default" was added to your credit file, to show that payments had not been made, and that effectively, the relationship between you had now broken down.

The amount you see on your credit reports is nothing whatsoever to do with the default notice, that is the default balance still outstanding, it does not have to be updated on a regular basis, and as the account is closed, has no real time bearing on anything.

Amex have reported your situation correctly, and you have no basis for complaint.

Sorry if that is not what you wanted to hear, but the facts speak for themselves.