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  • FIRST POST
    • philpot24
    • By philpot24 9th May 18, 4:22 PM
    • 9Posts
    • 0Thanks
    philpot24
    Default removal: default date or account ended
    • #1
    • 9th May 18, 4:22 PM
    Default removal: default date or account ended 9th May 18 at 4:22 PM
    Hi guys,

    Quick question as Iíve found conflicting information and knew this was the only place I could trust!

    Iíve got a defaulted account dated September 2012. I made a payment in August 2016 to settle it.

    Iíve checked my Noddle file and it shows defaults date September 2012 correctly and the account end date is August 2016(date I settled it). All makes sense.

    Will this account be taken off my Noddle file 6 years as of default date or 6 years as of account end date.

    Iím under the impression itís default date so Sep 2018. Is this correct?

    Thanks Iím advance,

    Phil
Page 1
    • Gary_Dexter
    • By Gary_Dexter 9th May 18, 4:25 PM
    • 2,080 Posts
    • 1,167 Thanks
    Gary_Dexter
    • #2
    • 9th May 18, 4:25 PM
    • #2
    • 9th May 18, 4:25 PM
    Date of default - so September 2018

    Though the CRA's might not get updated until the next month
    • Adam_Laing
    • By Adam_Laing 18th May 18, 12:12 PM
    • 4 Posts
    • 0 Thanks
    Adam_Laing
    • #3
    • 18th May 18, 12:12 PM
    • #3
    • 18th May 18, 12:12 PM
    Hello,

    I have had a similar issue to this. I had a default that started in 2016 with Halifax due to an overdraft. Settled the overdraft a couple weeks ago as when i was in Natwest ( my now current bank) opening a help to buy ISA they told me if i cleared the default balance with Halifax, they can remove the default from my account.

    I spoke to Halifax once i cleared the default but they told me its not possible for them to remove the default from my account and i will have to wait the next 4 years for it to come off my account. I was hoping to get a mortgage next year and im really fearing this is going to stop now! is it possible for companies to remove defaults before the 6 years are up?

    Thanks
    Adam
    • Tarambor
    • By Tarambor 18th May 18, 12:37 PM
    • 3,546 Posts
    • 2,620 Thanks
    Tarambor
    • #4
    • 18th May 18, 12:37 PM
    • #4
    • 18th May 18, 12:37 PM
    All entries stay in place for 6 years after they're put on your file. The only way companies will remove defaults is if they were incorrectly applied, i.e you hadn't actually defaulted. Paying them off doesn't get them removed from your file.
    • Gary_Dexter
    • By Gary_Dexter 18th May 18, 12:37 PM
    • 2,080 Posts
    • 1,167 Thanks
    Gary_Dexter
    • #5
    • 18th May 18, 12:37 PM
    • #5
    • 18th May 18, 12:37 PM
    No - as it's a true representation of what happened.

    Speak to a broker if you're looking for a mortgage with a default - though 1 paid off default will look better then many or ones not paid off
    • Adam_Laing
    • By Adam_Laing 21st May 18, 8:49 AM
    • 4 Posts
    • 0 Thanks
    Adam_Laing
    • #6
    • 21st May 18, 8:49 AM
    • #6
    • 21st May 18, 8:49 AM
    Thanks for getting back to me. So with a default on my account would you say its worth my time as a first time buyer going to a bank for a mortgage? I've never looked into broker mortgages before
    • zx81
    • By zx81 21st May 18, 8:52 AM
    • 18,600 Posts
    • 19,855 Thanks
    zx81
    • #7
    • 21st May 18, 8:52 AM
    • #7
    • 21st May 18, 8:52 AM
    A decent broker will give you a far better chance than just plunging straight into the nearest high street bank.
    • Adam_Laing
    • By Adam_Laing 21st May 18, 9:16 AM
    • 4 Posts
    • 0 Thanks
    Adam_Laing
    • #8
    • 21st May 18, 9:16 AM
    • #8
    • 21st May 18, 9:16 AM
    That's good to know, thank you
    • nic_c
    • By nic_c 21st May 18, 9:43 AM
    • 1,703 Posts
    • 911 Thanks
    nic_c
    • #9
    • 21st May 18, 9:43 AM
    • #9
    • 21st May 18, 9:43 AM
    Go to a broker, in fact go to a few, and get an initial discussion with them. Most will offer a free session (you can do it over the phone to sound them out) where they can give initial idea of your prospect and will outline costs etc. There are a lot of decent ones out there, but you are best to inquire with a few as they are not all the same (some won't want to deal if yours is a small mortgage and there may be obstacles that mean more work).
    • Adam_Laing
    • By Adam_Laing 23rd May 18, 2:03 PM
    • 4 Posts
    • 0 Thanks
    Adam_Laing
    To be honest the worry for me is going to speak about a mortgage and them telling me because i've got 2 defaults on my account (1 now paid off as mentioned above) they wont offer me anything. But like you say, i will try them and see what or if they can help me when it comes to it
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