Equifax Old Defaults and Date Changes

[princess901028]

Hi,

 

I am trying to understand my credit file and would appreciate your help if possible.

 

It is a long story but I had to go away in 2006 and all my creditors were left behind. I returned last year, and I am finally getting around to looking at this. I've been burying my head in the sand with it all.

 

On my Credit file I have the following as outstanding, once i've listed them Ill ask the questions as to what confused me if that is ok?

 

Communications Supplier from Lowell Portfolio 1 Ltd

Current Balance £1134

Default Balance £393

Start Date 17.05.2006

Default Date 07.07.2007

Date Updated 21.12.2008

 

Current Account Natwest Telford

Current Balance £1707

Default Balance £1779

Start Date 02.10.1996

Default Date 07.07.2007

Date Updated 14.01.2009

 

Current Account Natwest Telford

Current Balance £322

Default Balance £336

Start Date 21.03.2000

Default Date 07.07.2007

Date Updated 14.01.2009

 

Loan from Natwest Personal Loans

Current Balance £801

Default Balance £801

Start Date 21.05.2004

Default Date 05.05.2007

Date Updated 17.05.2007

 

Credit Card from Egg Plc 1

Current Balance £0

Default Balance £1926

Start Date 15.01.2001

Default Date 17.08.2006

Date Updated 17.08.2006

Date Satisfied 17.08.2006

(this isn't satisfied but it isn't mentioned anywhere else on my file)

 

I have a few questions:

 

• Why does the balance and default balance differ and which one is right?
  
• When does it get taken off of my file is it from Deaful date or Date updated?
  

I don't know what they have updated in some cases there is dares in 2009?

I basically want to know when they will come off of my file?

They are basically 2 bank accounts a loan a credit card and a mobile phone. It is seriously affecting my credit rating and just want a clear picture of when I can expect them to go?

 

 

Thank you in advance and sorry if these are silly questions

[erimus1]

Hi there - the only thing you have to be concerned with here are the actual 'default dates'. The updates shown are when accounts sometimes get reviewed by the lenders and have no baring oher than to give you an indicator as to when they were last interested in the accoun. You may also want to look at the searches on your file to see if there have been any debt collection searches - theses searches stay on for two years.

 

All these account will come off your file after six years from default date, so the Egg one should be due off any time - the rest coming off mid next year. Many people, including myself wouldn't really agree with deliberate failures in paying debts off, but if you are in a position, you may want to contact the creditors and offer them a settlement figure.

 

In short, your file should be clean mid next year. The thing that you would still have to take int consideration would be that, despite searches would not bring any negative information up, lenders may still have their on internal records if you have had dealings with them or any of their sister companies in the past. You will also find it difficult getting credit as you effectively will have no credit history at all.

[princess901028]

Ok I understand, thank you for the advice

[BRIGADIER2JCS]

The default sum = the arrears that were unpaid, if the arrears were paid in line with

the default notice the default would not be placed.

 

The Egg account will have been sold on that is the reason it shows satisfied,

expect contact from a debt collection agency in the near future.

[erimus1]

The default sum = the arrears that were unpaid, if the arrears were paid in line with

the default notice the default would not be placed.

 

The Egg account will have been sold on that is the reason it shows satisfied,

expect contact from a debt collection agency in the near future.

 

Satisfied on 17th August 2006 and not heard anything yet - more likely that this is an error on egg's part. This will be statute barred by now anyway as it will have been well over six years from last cause of action.

[BRIGADIER2JCS]

There are a number of the ancient accounts cropping up either SB

or nearly so.

I doubt there is any error, and SB will depend on no payments or acknowledgments

in writting.

[yozdagger]

Hi,

 

I saw you mentioned EGG on your report. One thing to check with it comes to EGG - they seem to adopt a model of marking the default satisfied when they sell the account onto a collector. The trouble is that the collector then adds ANOTHER default to your file (this one active).

 

So you end up with TWO defaults for one account.

 

I am currently involved in a legal process for exactly this reason to get EGG to remove an item from my file (after they ignored an ICO ruling in my favour).

 

In their "defense" to the ICO case they claimed registering two defaults for the same thing is "industry practice"....the ICO disagree and promptly reminded them of the laws around Data Protection. Just waiting for the court to enforce the ICO ruling with a legal order.

 

Just something to watch out for.

 

Yozdagger

[BRIGADIER2JCS]

There can only ever be one default date it cannoty be changed when a debt is sold.