same default every month on my credit score

scorrer11 · 23 August 2013 at 1:10PM

Hi everyone,
newbie to this so please be patient with me

i had a car finance which through certain circumstances was passed to link financial, on my credit score theyre is nothing to do with the car maker but link are on it and every month they add another default marker even though im paying what i agreed with them from the start.
they send me a letter every six months stating the whole loan amount as in arrears and then shows what payments i have made each month.
am i correct in the belief that they should only of put default once at the start of the issue and then put upto date thefollowing months?!?!
thanks in advance
wish i trained as a financial lawyer to make this easier to understand now

matttye · 23 August 2013 at 1:17PM

They're not adding new defaults, they're saying it's still in default - which is correct. Defaults last for 6 years from date of issue.

fermi · 23 August 2013 at 1:19PM

Each D or 8 each month is just a status update on the original default, not a new one.

scorrer11 · 24 August 2013 at 12:31AM

ok thanks very much for the info

fermi · 24 August 2013 at 4:13PM

To be clear, the original default and all account history (before and after) and details is removed 6 years from the original default date.

These Ds or 8s do no effect that, and will go with the rest.

6 years after the original default being registered, there will be no trace of the account on your report.

same default every month on my credit score

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