How to check defaults?

As anyone who has read my posts (bad luck) i am managing numerous credit card and loan debts and awaiting them to default

i do find the various letters quite confusing and even misleading, is there any way to check whether you have defaulted…i realise credit files are a good place to start but the free ones seem to be pretty useless..i have definitely defaulted on 2 (a while ago) and neither have shown up on credit karma (which continues to report I’m in good shape 😂)

Would rather not cough up with equifax just to monitor defaults

I’m asking as i need to understand at which point i should be arranging the payment plans with each creditor. 

Comments

  • Brie
    Brie Posts: 14,275 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I would suggest that you wait a minimum of 3 months after making no payments to contact the creditor and ask about the situation.  It may in fact be better to have a debt adviser enquire on your behalf as they will be able to send a standard letter that will ask about the account, arrears, date of default etc before contacting them again to set up a payment plan of some sort.  Doing this through a debt adviser just takes some of the pressure off you but leaves you to manage the debt plan yourself with their guidance which sounds like what you want to do.

    Check out NationalDebtline, StepChange, CMA (Community Money Advice), some Citizens Advice can also assist.
    I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards.  If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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  • I would also add that you can check all three credit reference agency files for free. Sometimes a debt won't be reported to all 3, so you'd be better checking them all. Hope that helps. BiB x 
    DF :grin:
  • I use Clearscore which is free and it shows very clearly on there the accounts that have defaulted…apart from Virgin. I did received the default letter and the account has been sold, however, still shows as in arrears on my credit file. 
  • sourcrates
    sourcrates Posts: 31,302 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Defaults are registered solely on your credit files.

    The date of default will be clearly stated.

    Experian and Equifax provide a free statutory copy of your credit report, as does credit Karma, you can also view it online.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
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