Help for a beginner

[mighty sword]

I have not checked my credit report yet - but at some point, probably later this year, will be looking at getting a mortgage, so will nbe getting hold of my report in August / September

 

my questions;

 

1 - I have defaulted on a few payday loan payment dates and one hight st loan (Oakham)

 

Is the default itself going to show up on my file and if so how long does it stay there - and what is the likely impact on my credit score?

 

2 - I had a CCJ around 5-6 years ago from Barclays - they closed my account down - credit card fees- I can't quite remember exactly when the CCJ itself was 'passed' . Is there any way of fidning out exact court dates? I would have thought that the information will be held somewhere..

 

3 - What is the diff on my credit file between a CCJ and default notice?

 

 

Thanks for any help.

[loyallady]

I have not checked my credit report yet - but at some point, probably later this year, will be looking at getting a mortgage, so will nbe getting hold of my report in August / September

 

my questions;

 

1 - I have defaulted on a few payday loan payment dates and one hight st loan (Oakham)

 

Is the default itself going to show up on my file and if so how long does it stay there - and what is the likely impact on my credit score?

 

2 - I had a CCJ around 5-6 years ago from Barclays - they closed my account down - credit card fees- I can't quite remember exactly when the CCJ itself was 'passed' . Is there any way of fidning out exact court dates? I would have thought that the information will be held somewhere..

 

3 - What is the diff on my credit file between a CCJ and default notice?

 

 

Thanks for any help.

 

 

I am in a situation with argos card services at the moment as I have found out they have put a default on my account after i paid the amount in full, there were other reasons before hand but was never told of a default. i have now found out a default will stay on credit file for 6 years and will show up on all credit checks done by any other lender. I would also be greatful of any help from others in what to do next. Thanks and good luck

[Joijo]

You can get a copy of your credit file for free on certain sites. I would advise that you do this so then your mind will be put at rest.

 

Defaults are kept on your credit file for 6 years and then they are removed.

[maroondevo52]

Hi,

 

If you have been issued with a Default notice and they have marked your file, It will stay there for a period of 6 years, whether you pay it off or not.

 

 

Your CCJ will appear on your credit file for 6 years (if it takes you more than 6 years to repay the CCJ, the creditor will re-register it with the credit reference agencies). However, your credit rating will already be affected by the fact you have not paid the contractual payments, which has resulted in you receiving a CCJ. Your CCJ won't show on your credit file if you pay it in full within 30 days.

 

If you manage to clear the CCJ within 6 years you can write to the credit reference agencies enclosing a "letter of satisfaction" from the issuing County Court to have the entry marked as "satisfied" on your credit file. This may be useful if you are applying for a mortgage, for example.

 

Regarding whether a Default is worse than a CCJ, - with a CCJ you can settle within 30 days and have it removed, or pay it off later and send in a form to have registered as 'saisfied', however, with a default you can't do anything except submit a 'statement of correction' to explain the circumstances around the default which lenders must take into account when they view your credit file.

 

Regards.

 

Scott.

Edited January 21, 2010 by maroondevo52

[mighty sword]

You can get a copy of your credit file for free on certain sites. I would advise that you do this so then your mind will be put at rest.

 

Defaults are kept on your credit file for 6 years and then they are removed.

 

ok when you say free do you mean you mean you pay a month and then cancel it, or is it totally free?

[maroondevo52]

Remember, when you search your credit file, your details will be given to other agencies, which sometimes ends up with more people than you may wish, getting in touch with you, regarding old debts ect.

[mighty sword]

 

If you have been issued with a Default notice and they have marked your file, It will stay there for a period of 6 years, whether you pay it off or not.

 

 

.

 

 

thanks - do you know the likelihood of a payday loan company marking the file with a default notice for missing one payment?

 

I am negotiating a repayment plan with them currently, so if they didn't mark the file with a default notice in January, would they do it at a later date ?

[Joijo]

No its free but you just have to remember to cancel before the month is up

[mighty sword]

No its free but you just have to remember to cancel before the month is up

 

Is this Experian?

[Joijo]

Remember, when you search your credit file, your details will be given to other agencies, which sometimes ends up with more people than you may wish, getting in touch with you, regarding old debts ect.

 

I thought when you searched your own file it didnt put any mark on your own file? That is also what it states every time i check my own file. :-| Now im annoyed. Or is it just the score that wont be altered when you check your own file?

[Joijo]

https://www.creditexpert.co.uk/MCCLogin.aspx

 

This is where i go

[maroondevo52]

I thought when you searched your own file it didnt put any mark on your own file?

 

Hi,

 

I know the last time I searched my file, I received calls from companys regarding very old debts, also DCA's 'phishing' looking for someone with the same surname as me who must have stayed in the same sort of area.

[Joijo]

Oh i see. Well i dont live at the same address or have the same phone number so that may be why i dont get anything. But it is still my parents address so id assume that they would tell me if they had blithering idiots on the phone

[mighty sword]

thanks - do you know the likelihood of a payday loan company marking the file with a default notice for missing one payment?

 

I am negotiating a repayment plan with them currently, so if they didn't mark the file with a default notice in January, would they do it at a later date ?

 

 

could anyone please help with the above question?

 

I have negotiated a repayment plan for two high st lenders (Oakam and National cash Advance) - both said that as yet there has not been a default notice on my credit file - as long as I stick to the plan.

 

I am in the process of getting my Equifax credit file but need to send some documents in, so am waiting on this.

 

I know it is probably down to the individual companies, but does anyone have experience re; payday loans? As I said, I have only defauled the one time.

 

thanks

Edited January 27, 2010 by mighty sword

[lostinspace1000]

CCJ's remain on your file for 6years only if you satisfy them before the 6years is up or it will be renewed and you'll have another 6 to go. Defaults will totally screw your credit rating, never heard of a payday loan company placing a default. As for looking at your file that does not leave a 'footprint' so you can look at it every day if you wanted. your credit file for example may have 20 searches on it but other companies may only see a few searches as searches for id arent seen by them. all credit searches are shown so keep this to a min if possible. the higher the cred searches the lower your score.

[mighty sword]

CCJ's remain on your file for 6years only if you satisfy them before the 6years is up or it will be renewed and you'll have another 6 to go. Defaults will totally screw your credit rating, never heard of a payday loan company placing a default. As for looking at your file that does not leave a 'footprint' so you can look at it every day if you wanted. your credit file for example may have 20 searches on it but other companies may only see a few searches as searches for id arent seen by them. all credit searches are shown so keep this to a min if possible. the higher the cred searches the lower your score.

 

re; default notices from payday loans - is this from your own experience? or have you seen other credit reports also?

[lostinspace1000]

only from what ive read and heard, no experience of it at the moment.