Barclaycard defaulted. Why do they keep updating credit file?

[clarkyac1]

Hello this is my first post on here. Straight to the point. I had a barclaycard which i defaulted on in May 2005, my credit report shows the default as 05/2005. I have not made any payments on this since the default. My question is why do barclaycard update my credit file each and every month although the account has alreay defaulted, i was under the impression that once i had defaulted they would have no need to update it. Will this stil fall off my record 6 years from default if they are still updating?

[spamheed]

They tend to do this if the account is still open.

 

has the debt been assigned to a debt collector yet?

 

Because they know there is very little anyone can do about it, they will update the CRA file as they wish. it will take a legal precedent to set the rules over what can and cannot be done with private data.

 

The CRA's tend to be owned in part, or entirity by the financial institutions, so I would expect no assistance from that quarter

 

This should still fall off your file after 6 years of the default,

[clarkyac1]

Hi spamhead thanks for your swift reply. As far as i know it hasn't been passed to a DCA as i moved from the address when Mercers were still sending letter and i know they are part of barclaycard. In light of this and the fact they still update monthly do you still think the default will still fall off my credit file 6 from the date of default? Thanks

[spamheed]

Although they claim this right (to hold information for six years) it is not clear what law they actually refer to. although any default should fall off your file after a period of six years after the debt falls into default. regardless of what they post in the meantime.

 

This is the CRA's own rule, so it's not likely you'd get much argument if, when the time comes, you object to the presence of a default on your file (should the default not fall off automatically)

[mr.ton]

The financial institutions are shooting themselves in the foot coz the more they keep adding negative info to everyone's credit file, the less chance anyone will get approved for any credit ever again - thus, having a negative affect on their future profits.