What affect will 5 year old defaults have on my credit score?

[Morr]

Hello, I have 2 current defaults on my credit file (both of which are being appealed). Both are from April 2010, and both debts become SB in August of this year.

 

 

I am in contact with both debtors with the 3 letter process and nervously awaiting any action they may take before August.

 

My question is regarding the affect these old defaults have.

 

 

My noddle credit rating still say 1 out of 5 despite the fact I have no other problems and an up to date bank account and mobile phone contract, and on electoral role etc.

 

What would happen after the 6 years, will these defaults disappear off my credit file, or do I have to request to have them removed.

 

 

Could these 5 year old defaults be the reason my credit rating is so low?

 

 

Thanks Everyone.

[citizenB]

I am in contact with both debtors

 

 

Hi, can I just point out, that you are the debtor, so you would be in touch with the creditors.

 

If your defaults have not reached their 6 year birthday then I doubt very much you will encourage them to remove them any earlier. Have you repaid all the balances on these accounts ?

 

Pay Day Loan defaults will have a greater detrimental impact on your credit file than main stream lending defaults.

 

Sadly any default will keep your credit rating lower

 

I am not sure what you mean by the "3 letter process". If this method is from another forum, then I think you will be wasting your time.

[fkofilee]

We have a GOODF Poster here...

 

Ignore the 3 letter process... It will get you into LOTS of trouble.

[Morr]

Goodf?!

[fkofilee]

Where did you get the 3 letter process from?

[Morr]

Can you explain why I am a Goof as stated in your email above?

 

When I say 3 letter process I mean the letters asking for CCA and not acknowledging letter and the SAR request.

[fkofilee]

It was a typo haha My bad sorry, My mobile can be a pain...

No offence intended

 

I thought you were referring to the Get Out Of Debt Free... 3 letter process...

[Morr]

I use this forum and money saving expert forums foo. I have posted here before regarding my debt issues and have taken advice from other posters regarding the letters to send.

[dx100uk]

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

[Morr]

That is useful to know. So although the debts become SB (last payments made in Aug 2009) the defaults won't automatically come off until they are 6 years old? That's frustrating as they are there lingering on my credit file for another year then.

 

Is it likely that these defaults are causing my low credit score? They aren't payday loans or anything. One is a very small credit card debt, and the other a catalogue debt.

[theoldrouge]

Just one default will cause 1/5 on noddle

 

Try experian for a more accurate score

[dx100uk]

yep any default or marker will kill your credit rating

never confuse SB date with defaulted date

they are not linked.

[Morr]

Hi All, I'm very confused today!

 

 

I paid the £14.99 and joined experian (I had used up my free trial some years ago) and I nearly fell off my chair!

 

 

My credit score is amazing, and it has no records of any defaults or delinquent accounts on there?

 

 

And it has all my old addresses too.

 

 

It does say that since 2012 my credit score has increased by 100 because there are no no longer defaulted accounts on there.

 

I'm very confused....

[dx100uk]

not all creditors / DCA's use every CRA provider.

 

 

dx

[kirstyo]

My Noddle score is also 1/5,

I always thought it was an two old defaults (both five years old too),

it recently jumped to 3/5 which i was really happy about

then it dropped to 1/5 again because i used my credit card.

 

 

According to noddle

'the balances on my credit cards have increased recently, causing a lower credit score'

even although I spent only a small proportion of what I have available

 

 

I honestly think noddles credit score is rubbish,

 

 

like you my equifax score is much higher and more like a true reflection of my circumstances than the noddle one.