Credit card default...will it work??

Puma21_2

Dear all,

I am currently going through the waiting game for a Mortgage decision from GE Money!! I currently have a default on my credit file from Capital One dated Nov 2006. The point is that I never actually recieved the default notice from them. I have paid off the debt as it was sold to a company called Lowell and is marked as satisfied on my file, but is causing mega problems with mortgages.

I have wrote to them and asked them nicely to remove the default as it is paid in full and I never got the notice, but wondered what anyones thoughts/experiances are on this matter?

Would really appreciate any thoughts/ideas as to how I can have it removed.

Thank you.

Puma21_2

Any thoughts guys/girls?

jonesMUFCforever

In this day and credit crunch age await to be disappointed IMO or you will be offered a higher rate.

This is just my opinion - hope all goes well for you.

darkblue_2

I would say that you should contact the credit agency to ask them to remove it from your file as it was satisfied.

Andybez38

Chances are slim of getting the default removed. Why would you apply for a mortgage knowing the default was on your credit files? Even a satisfied defaut is a defaut and will have adverse affects to potential lenders.

thebaroness

They won't be able to remove it but you should ensure that it is shown as satisfied on your credit file.

System

Take a look at the following:

http://www.learnmoney.co.uk/credit-cards/remove_default_notice.html

I'm not condoning, recommending or saying it works, but interesting none the less.

Regards
UNDERGROUND

Puma21_2

Thank you UNDERGROUND. I found this the other month and currently trying the recommendations.

Has anyone ever had a default removed??

System

Puma21 wrote: »

Thank you UNDERGROUND. I found this the other month and currently trying the recommendations.

Has anyone ever had a default removed??

I had one removed a few years back by a catalogue firm, but it was done as a 'gesture of goodwill' because they had cocked up some internal paperwork or something.

It can't harm to try and get rid, a default does cause you alot of credit problems as I found out in the past!

Good luck

UNDERGROUND

Puma21_2

Thank you. May I ask what the internal paperwork error was?

fermi

This is a long read, but the Information Commissioner issued some guidance a while back on when/how it is acceptable for a creditor to report a default with the CRAs.

See: Technical Guidance Note - Filing defaults with credit reference agencies

A few sections are useful if you are thinking of challenging a default.