Discussion
I've just found out I have a default recorded against my nome on a credit reference agency. The default is for £17 and was lodged by T-Mobile, naturally on finding this out I paid the outstanding balance (it was a pc dongle I had some time ago) I was never chased for this money and quite honsestly didn't know I owed it. My credit rating despite having never missed any loan or mortgage payments in the last 30 yrs my credit rating now stinks and is trashed for 6 years.
Is there anything I can do??
Is there anything I can do??
L1OFF said:
I've just found out I have a default recorded against my nome on a credit reference agency. The default is for £17 and was lodged by T-Mobile, naturally on finding this out I paid the outstanding balance (it was a pc dongle I had some time ago) I was never chased for this money and quite honsestly didn't know I owed it. My credit rating despite having never missed any loan or mortgage payments in the last 30 yrs my credit rating now stinks and is trashed for 6 years.
Is there anything I can do??
When was it placed on your credit file? If you satisfied it within 30 days you can get it removed from your credit file.Is there anything I can do??
If not, then the only other way it can be removed is if it was a mistake e.g you've never had anything to do with the company and they have given you this default completely by mistake. But from what you say, it doesn't sound like a mistake.
All you can do is to pay it off so that it reads as satisfied on your credit file.
L1OFF said:
I've just found out I have a default recorded against my nome on a credit reference agency. The default is for £17 and was lodged by T-Mobile, naturally on finding this out I paid the outstanding balance (it was a pc dongle I had some time ago) I was never chased for this money and quite honsestly didn't know I owed it. My credit rating despite having never missed any loan or mortgage payments in the last 30 yrs my credit rating now stinks and is trashed for 6 years.
Is there anything I can do??
I highly doubt a otherwise squeaky clean history has been destroyed by a tiny little default*, but I'm afraid it will cause you problems, more with smaller things using completely automated systems rather than bigger stuff. Is there anything I can do??
First point of call is T-Mobile, them asking the agency to remove or amend the file is the easiest path.
If they refuse you can appeal it with the agencies, they work on a black / white proof based basis rather than a balanced view or 'fairness' one. I seem to recall a certain number of letters have to be sent before they can register a default, if they haven't sent these at the right time etc they'll have to remove it - sadly if they say they have, and you say they didn't that's not proof enough - also if they sent it to an old address which is how these things usually happen it's not their fault if you didn't tell them you moved and can prove it.
There may be more you can do if both of those fail, but if not, your last avenue is a 'NOC' or Notice of Correction, anyone can file these on their own credit file, it's your chance to put your side across. However they should be used with caution - anyone offering you credit is duty bound to read a NOC before agreeing anything - so having a NOC will being automatically be kicked out of any automatic / computer based underwriting decision to have a human underwriter look at it, best case it will slow the process down in POS type underwriting situations, worst case in the absence of human underwriters an automatic decline.
- Universal credit scores are complete b
ks invented by credit agencies to market services to consumers. Every credit company devises their own score based on the raw data provided by the agencies and your creditworthiness will be different for every circumstance and credit offering business. The last Finance Company I worked at completely disregarded any history based on less than £100 as they rarely gave a good impression of the person and were notorious for false details and poorly managed accounts. Home Shopping Catalogues, Mobile Phones, Utilities etc rule the roost in the sub £100 bracket, often rely on customers remembering to pay instead of using DD's, were terrible at managing debt and often forgot about when people moved.
Sarnie said:
When was it placed on your credit file? If you satisfied it within 30 days you can get it removed from your credit file.
If not, then the only other way it can be removed is if it was a mistake e.g you've never had anything to do with the company and they have given you this default completely by mistake. But from what you say, it doesn't sound like a mistake.
All you can do is to pay it off so that it reads as satisfied on your credit file.
Unfortunaltly satisfying a default doesnt clear it from your record. The mobile phone companies are not regulated by the consumer credit act so don't have to warn you that they are proceeding to default you. Reading on the net its next to impossible to get them removed and they have the same effect on your credit rating as a ccj or bankruptcy. The reason alarm bells stated ringing when receiving credit card and loan offers with >49% interest rates quoted for bad credit history, on checking with experian there it was. Fecked for the next 6 years. If not, then the only other way it can be removed is if it was a mistake e.g you've never had anything to do with the company and they have given you this default completely by mistake. But from what you say, it doesn't sound like a mistake.
All you can do is to pay it off so that it reads as satisfied on your credit file.
L1OFF said:
Unfortunaltly satisfying a default doesnt clear it from your record. The mobile phone companies are not regulated by the consumer credit act so don't have to warn you that they are proceeding to default you. Reading on the net its next to impossible to get them removed and they have the same effect on your credit rating as a ccj or bankruptcy. The reason alarm bells stated ringing when receiving credit card and loan offers with >49% interest rates quoted for bad credit history, on checking with experian there it was. Fecked for the next 6 years.
Whoever told you that a £17 default is as bad as a CCJ or Bankruptcy, is wrong.It must have rolled to six months arrears pre default, with several letters etc. Most decision systems ignore defaults of <£100 but they will affect your score, which will put you at a disadvantage. Worth paying off as most companies will consider both the default value and the current balance, and it obviously looks better if it's now been paid.
Paying it within 30 days makes no difference. You have 30 days to pay a CCJ, defaulting is a more gradual process, each step of which is recorded in ne way or another.
Paying it within 30 days makes no difference. You have 30 days to pay a CCJ, defaulting is a more gradual process, each step of which is recorded in ne way or another.
Northernchimp said:
It must have rolled to six months arrears pre default, with several letters etc. Most decision systems ignore defaults of <£100 but they will affect your score, which will put you at a disadvantage. Worth paying off as most companies will consider both the default value and the current balance, and it obviously looks better if it's now been paid.
Paying it within 30 days makes no difference. You have 30 days to pay a CCJ, defaulting is a more gradual process, each step of which is recorded in ne way or another.
No letters or I would have paid it. Paid as soon as I knew. Talked to my building society about changing my mortgage to a fixed rate but declined.Paying it within 30 days makes no difference. You have 30 days to pay a CCJ, defaulting is a more gradual process, each step of which is recorded in ne way or another.
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