Anyone managed to have a default removed from their file?

15
Posted 18th Nov
So i got into a bit of financial difficulties, and fell behind with some payments on a loan. Which resulted on a default being issued by the lender. This was over a year ago now.
All the money has been paid now and the default is satisfied.
I've read somewhere if you write to the company they might remove the default. Anyone had any luck with this?
any experience of how to construct the letter etc...

Thanks in advance for your help.
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Google best bet, people are not going to say hey I’m a bad debtor and I did this....

I understand where your coming from life throws things at you out of your control.

im sure on your credit file it will say satisfied, it will stay there for 6 years I think as it’s to show other lenders you did default if they took them off file there would be no point...
Thanks for your reply.
I've managed to get a template of a "goodwill letter". Going to try it all the lender can do is say no, so worth a try.

I stayed in touch with the lenders all the way through and for a finance company they were actually very understanding.

I've read few people have some success, so going to give it a go.
No incentive for the creditor to assist, and other lenders would suggest that it would be wreckless for the creditor to deny other lenders access to that information. No harm in trying. You are also able to request a short statement of your wording be added to your credit file.
Was it a county court Judgement?

If it's a CCJ you're talking about and you've cleared it, your credit file will make mention of the Judgement being satisfied. It cannot be removed for a period of 6 years unless it was satisfied within a month. It's not open for discussion as far as I'm aware.


As AndyRoyd touches on, companies pay good money to search for credit history and many that do also do on the basis that the information they provide is accurate. The whole system falls apart if CCJ's are removed.

No one needs to receive a CCJ if they choose to keep in contact with their creditor. A court would frown upon time being wasted if a creditor was being paid in some kind of fashion.
Edited by: "OllieSt" 18th Nov
It's not a CCJ. I had the account for 2 years before the default and never missed a payment.
For cost of a first class stamp, no reason not to try.

Really appreciate all the responses.
earthlling18/11/2019 14:09

It's not a CCJ. I had the account for 2 years before the default and never …It's not a CCJ. I had the account for 2 years before the default and never missed a payment.For cost of a first class stamp, no reason not to try.Really appreciate all the responses.


Have you checked your credit file?
Yeah check it every month(just to see if the amount owed was changing after the monthly payment)
It's fully paid now.
Need a mortgage in the next few months, but I know with a default on the credit file it's going to be hard work.
AndyRoyd18/11/2019 13:54

...other lenders would suggest that it would be wreckless for the creditor …...other lenders would suggest that it would be wreckless for the creditor to deny other lenders access to that information...


OllieSt18/11/2019 14:04

...companies pay good money to search for credit history and many that do …...companies pay good money to search for credit history and many that do also do on the basis that the information they provide is accurate. The whole system falls apart if CCJ's are removed....


earthlling18/11/2019 14:09

...Really appreciate all the responses.


SCOR outlines the basis why lenders should not remove / amend credit history. It includes many factors including promoting future responsible lending. This may provide an indication why most lenders will not be open to amending consumer credit history (and risk that company being excluded from access to shared data making future lending decisions impossible = end of company) scoronline.co.uk/pri…les but still no harm in asking.
I know I have a very slim chance. Its only after I've done a bit of research and it seems some people have manged to have a default removed, so thought I'll ask here for any experiences members might have had.

I'm definitely going to try it but as mentioned above don't think I have a great chance.
If i remember correctly it can take 3-4 m for removal and things to refresh on your profile.
worse case scenario, after 3 years it be gone automatically.
earthlling18/11/2019 14:39

Yeah check it every month(just to see if the amount owed was changing …Yeah check it every month(just to see if the amount owed was changing after the monthly payment)It's fully paid now.Need a mortgage in the next few months, but I know with a default on the credit file it's going to be hard work.


Look at a broker if your going for a mortgage. The reason i say this is because i'm currently using one and i know that he's got a mortgage approved for some one with bad credit. I would look locally and go off recommendations i doubt the ones who provide a free service will want to deal with you as your situation is more complex.
As an alternative, you could write to all the big credit reference agencies with a notice of correction, explaining what happened. Lenders do take this into account to some extent
How much money was the default?
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deleted1471098
Most lenders won’t remove them as you defaulted on the terms of the agreement. It will be updated to satisfied which indicates you have paid it off in full. Within a year or so you should find your credit improve slightly. It’s important you now keep a small amount of credit and pay on time all the time. Make sure you have the money in cash saved before you buy anything. This will help you get back on track.
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deleted1471098
earthlling18/11/2019 14:39

Yeah check it every month(just to see if the amount owed was changing …Yeah check it every month(just to see if the amount owed was changing after the monthly payment)It's fully paid now.Need a mortgage in the next few months, but I know with a default on the credit file it's going to be hard work.


There are mortgages for people with bad credit but you’ll get given a reduced amount and a higher interest rate. It would be more sensible to wait for 12 months and borrow small amounts paying them off each month in full to demonstrate you can manage credit.

The bank will want to see bank statements and ask lots of questions about finance, if you get declined for the mortgage you won’t be able to apply for another one for 12 months (nothing to stop you applying but it won’t get approved further damaging your credit rating).
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