Random default question

princessmama86

So I have a loan with Admiral. We (me and hubs) are in a DMP and have been since 2022 with Stepchange. We have a lot of creditors and more debt than I care to think about but it is the Admiral loan that has caused me the headache. Im not surprised by this and at this point it is what it is but….

They never defaulted the loan after 3 missed payments. They have admitted that they should have done this and have contacted me to say that it will be added retrospectively and dated October 2021. This I am pleased about.

What I do want to understand further is this...all of the other accounts that went into default have not registered any missed payments after the default date. Admiral has because it wasnt registered correctly. This has meant that my credit file has failed to improve as much as it would have done had these 12 missed payments each year not been added...which I believe would not have been the case had the default been applied correctly.

I did try querying this with them but perhaps I got the wrong person or spoke with the incorrect words. But has anyone else dealt with a situation like this?

I'm realistic, I know my credit file would still be heavily marred by all the defaults but given that weve stopped accruing additional debt and are repaying as best we can through a plan that all parties are agreeing to, I would have thought id have made more progress in 4 years than I feel I have in respect of my score (I know its arbitrary but its how I know things are improving).

Any wisdom greatly received!

Rob5342

As far as I know the missed payments will change to default once they default the account. In any case the whole debt will disappear completely in October 2027.

sourcrates

The missed payments will still show in the account history, but once defaulted, that takes precedence.

The whole entry will be gone as of next year, so its arbitrary really.