Information held on CRA

[mistermagoo]

Hi

 

Can anyone help me i am currently on a debt management plan and i want to know? when does the creditor have to take my defaults of the CRA settled or not .Smoeone has stated that i should send them Subject access Requests?

 

I have paid to join credit expert and have access to my report what should i be looking for in terms of getting these removed.also some of them state a red ball with 8 on the credit report but i know that these are paid every month albeit a small amount.

 

Many Thanks in advance

[BRIGADIER2JCS]

Defaults entries are removed from credit files on the 6th anniversary of the default date, paid or not ,if they are properly placed defaults will not be removed early, late payment markers will be contiually added while the account is ''live''.

[mistermagoo]

Thanks Brig

 

I understand the live bit so where it states default date on my CR on the six anniversary of that date it should automatically be wiped off? without me doing anything.

Also the late payment markers held on my account must be wrong as Payplan deals with my payments and they are taken by direct debit!

[BRIGADIER2JCS]

Yes it's not even the creditor the CRAs are obliged by the ICOs Tech Guidance on defaults to remove the entries,

Usually they are removed overnight or there may be a slight delay at weekends.

It may then indicate that the amounts paid are less than the contractual amount.

Was the account marke with the '8' ever defaulted?

[mistermagoo]

Brig yes they were all defaulted, another question all of defaults will be six years old in 12/09/2014 this being the last one, so on the 13/09/2014 will my score be excellent? and would it benefit me trying to arrange paying these off by offering half the debt

[BRIGADIER2JCS]

Nothing like optimism:jaw: so, if you have other accounts that are up to date and have been running well over around 3 years I would guess that your credit profile would be ''fair to good'' making partial payments in full and final settlement will just get a partially settled marker imo not worth it.

 

If you have no other accounts showing on your CRA files when the defaulted ones are removed then there is no credit history to build a score on so ''poor to fair I would think.

 

Building a credit profile is harder these days than it ever has been, potential lenders increasingly look at longer periods of good++ credit management often up to 5-6 years for mortgages, even ''subprime'' lenders are more cautious.