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**Never-In-Doubt** · 4 October 2010, 22:40

Re: Default Date questions

Yes you're correct. 6yrs from date of default - not date of settlement!

**Viglen** · 5 October 2010, 07:08

Re: Default Date questions

Originally posted by Never-In-Doubt

Yes you're correct. 6yrs from date of default - not date of settlement!

Hi NID

Based on your personal experience and knowledge of how long these things can take to remove, do you think it would be more prudent to just wait the 7-8 months for these to drop off?

I have no need of credit right now, I am out of the habit of borrowing. So I dont need them removed urgently or anything.

However I am quite keen to test the water as they are all pre 2007. The two things that would put me off would be the risk of them asking for the rest of the money and if they get in contact with you again that they can change the default date, resetting the clock as it were. Is that the case?

Thanks

**Never-In-Doubt** · 5 October 2010, 08:23

Re: Default Date questions

Originally posted by Viglen

Originally posted by Never-In-Doubt

Yes you're correct. 6yrs from date of default - not date of settlement!

Hi NID

Based on your personal experience and knowledge of how long these things can take to remove, do you think it would be more prudent to just wait the 7-8 months for these to drop off?

I have no need of credit right now, I am out of the habit of borrowing. So I dont need them removed urgently or anything.

However I am quite keen to test the water as they are all pre 2007. The two things that would put me off would be the risk of them asking for the rest of the money and if they get in contact with you again that they can change the default date, resetting the clock as it were. Is that the case?

Thanks

Hiya

You should leave them for the 6yr drop-off date. They cannot add another default - one debt = one default, simple. Once gone it has gone for good and can never be re-defaulted regardless of whether there is a balance or not. Nothing you do now will affect the default date and default removal date of 2011.

However the real issue seems to be the repayment of the debts - can you confirm did you actually satisfy the debts or are they outstanding still?

If you contact the lender the only thing that is re-set could be the statute barred date which really, doesn't matter if the debts have been repaid as there will be no o/s balance.

No matter what, within the 30 day period of the 6yr mark the defaults will drop off. The CRA updates their systems regularly but sometimes default removals get missed - if this is the case, give it a month then they'll go - so say a default was placed on 1st October 2004, i'd expect the entry to be gone in its entirety by 1st November 2010.

Make sense...?

**Viglen** · 5 October 2010, 09:34

Re: Default Date questions

Originally posted by Never-In-Doubt

Hiya

You should leave them for the 6yr drop-off date. They cannot add another default - one debt = one default, simple. Once gone it has gone for good and can never be re-defaulted regardless of whether there is a balance or not. Nothing you do now will affect the default date and default removal date of 2011.

However the real issue seems to be the repayment of the debts - can you confirm did you actually satisfy the debts or are they outstanding still?

If you contact the lender the only thing that is re-set could be the statute barred date which really, doesn't matter if the debts have been repaid as there will be no o/s balance.

No matter what, within the 30 day period of the 6yr mark the defaults will drop off. The CRA updates their systems regularly but sometimes default removals get missed - if this is the case, give it a month then they'll go - so say a default was placed on 1st October 2004, i'd expect the entry to be gone in its entirety by 1st November 2010.

Make sense...?

Makes total sense mate thanks.

Re the actual amounts....

I still have the letter from one of the DCA's that the halifax account was settled and the amount that was paid. Would need to double check.

I have all my statements relating to style and the final one says write off done and Im pretty sure there was a big payment made before the write off was done. I would need to double check tonight. Dont think style even got to the DCA stage.

I have no documents for Hutchinson 3g but I am not sure if they ever got to the DCA stage. I am pretty sure a payment was made to them however I have no idea how much. Would my Credit reports say if this was fully settled or would they just say satisfied regardless if it was fully paid? I may even SAR them to find out but again dont want to awaken a sleeping dragon either.

Also another thing I picked up from another forum was that the default markers placed on credit reports were put there by the CRa's and not the banks. In this case apparently it is possible to have the default removed but I am not sure of the ins and outs. Dunno if you heard about/were aware of that?

Thanks

**Viglen** · 5 October 2010, 16:00

Re: Default Date questions

Oh one other thing.

I also thought the default date would be 'reset' if you made any payments. I will put up dates tonight if i can find them of the last payments made to the account.

**Never-In-Doubt** · 5 October 2010, 16:06

Re: Default Date questions

Hiya

Don't worry - seems like they are long finished with - just ignore them.

No, statute barred is reset if you pay within the 6yrs - a default only lasts 6yrs from date of entry regardless whether settled/outstanding....

Have you seen these two threads? Have a quick read of the essential info.... I would

k

k

Credit Ref Agencies

Defaults & the law

**Viglen** · 5 October 2010, 19:08

Re: Default Date questions

Thanks NID

Readin through that prompted me to post the other thread about APEX but Im moe than happy know after reading your thoughts and those threads

thanks mate

**Never-In-Doubt** · 10 October 2010, 19:14

Re: Default Date questions

cheers

y

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