Experian credit report confusion

[flashguru]

Hi Guy's,

 

Im new here, but often visit the forums to see if other people have been in a similar situation to myself.

 

Anyway, i have a question and i thank you in advance for any insight you can offer.

 

Basically, ive just ordered by credit report online from experian and found a default on my account with halifax, according to the report it gives the following information:

 

Company name:HALIFAX

Account type:Current Account

Started:30/08/2001

Default Balance:£432

Overdraft Balance:Satisfied

Defaulted On:15/02/2005

File Updated for the Period to:16/03/2008

 

 

I am aware the defaults stay on your credit file for 6 years at which point they are removed, but i am confused as to which date i should count the 6 years from, should it be 6 years from the 'Defaulted On' date above, or 6 years from the 'File Updated for the Period to' date? ideally and hopefully it will be the 'Defaulted On' date, which would mean sometime next year i will have a clear credit report, or is that wishful thinking?

[maroondevo52]

Hello and Welcome, flashguru.

 

It will be 6 years from the 'defaulted on' date.

 

The lender can only default your account ONCE. That will have a specific date recorded on it, and all details of that account/default will be removed from the CRF 6 years from that initial date regardless of anything else.

 

While the account is still unsettled the lender can update the monthly status code every with with a "D" or "8", but that IS NOT the same as adding a fresh default each month. Many many people get confused on this point and think they are adding new defaults by doing that. They are not.

 

Regards.

 

Scott.

[flashguru]

Thanks for the fast response. So just to confirm, this default should no longer be on my credit file after the 'Defaulted On' date which was reported as: 15/02/2005

 

[maroondevo52]

To my knowledge

[flashguru]

Thanks for your help, much appreciated