Experian

coldasice_3

If I've posted this on the wrong board then I apologise in advance.
I had a default on my Experian report for 6 years defaulted in 2001 it has now gone in 2007 but it has just appeared back on my Experian report saying i defaulted in 2006 with no company name next to it can they do this as i'm still paying it off monthly?

msmicawber

The entry stays on your record until 6 years after you pay off the debt, though after it's paid off, it shows as 'settled'.

coldasice_3

But I had 5 defaults on my file in 2007 which have all gone now but i'm still paying them off, yes they have been on there more than 6 years?

carrottopsuk

I don't know but shouldn't it show the original date you defaulted rather than 2006? Isn't 2006 misleading? Can't they change it to reflect the original details?

coldasice_3

Hi, I don't know i will have to ring them tomorrow.

carrottopsuk

good luck!

hopefully someone will come along who knows more than me and will be able to help you.

msmicawber

You're fortunate, then, mine stayed on all the time I was paying them off and are still there, marked settled. Maybe the other companies involved have different approaches to the credit record. Have you checked the other CR companies, they may use them now instead?

jimbo26

msmicawber wrote: »

The entry stays on your record until 6 years after you pay off the debt, though after it's paid off, it shows as 'settled'.

I think you will find the default stays on record for six years from the date of default. Regardless of when it was paid.

fermi

With Experian defaults stay on the File for 6 years from the original default date.

They should then be removed, satisfied or not.

If a new default has been registered against that account at a later date, then that is certainly wrong.

You need to query it with Experian, who should then query it with the original lender or organisation that have now registered a default. However Experian only record data as it is provided to them.

If the entry is confirmed by the lender/DCA as being correct, you would then need to take it up with them.

Donedoingdebt

Ditto what fermi says. It is NOT 6 years from when the debt is paid, it is 6 years from the date the default is registered.
When my defaults started dropping off around 2006, I contacted both Experian & Equifax on this matter & they both assured me that once the default has passed 6 years, then it would drop off my file along with all details of the account & could NOT be re-registered with the same account & this is indeed what happened.
However, Aktiv Kapital took over 1 of my accounts in 2002, 2 years after the original default date in 2000 & placed a default dated 2002 on the same account, even though regular payments were being made.
Upon contacting the CRAs & Aktiv Kapital, this second default was duly removed from my files without too much bother.

fermi

Just to add, if the creditor DCA refuses to correct the entry the raise a complaint with the Information Commissioner.

They have issued some guidance on how defaulted accounts should be treated:

http://www.ico.gov.uk/upload/documents/library/data_protection/detailed_specialist_guides/default_tgn_version_v3%20%20doc.pdf

That applies whether the debt has been sold on or not.

The ‘sale’ or assignment of debts on defaulted accounts

52 When the rights to a debt are sold to a third party, the lender has to make sure the records with the credit reference agency are accurate, up to date and adequate. If they want information about the debts to continue on the credit reference file they will need to come to an agreement with the purchaser about who is to be responsible for this.

53 If the purchaser agrees to take control of the record, the customer should be informed that the debt has been sold or assigned and to whom. The credit reference agency file should be changed to show the name of the purchaser and that the rights to the debt have been sold or assigned.

The purchaser should then make sure the record is kept up to date including changes to the amount still owed. The purchase should not affect how long the record is kept. It should be removed six years after the default.

54 Where the purchaser of the debt does not agree to take control of the record, the original lender, and at least in part the credit reference agency, will remain responsible if the original record is kept on the file. When the debt is sold or assigned, the customer will no longer owe any money to the original lender. If the record is not removed, the sale or assignment should be recorded and the balance should be shown as zero. The customer should still be told who the debt has been sold or assigned to.