Thanks for doing that TDA. Look forward to the response.

I have posted this on the other similar thread too.

I wrote to Experian and Noddle. This is the reply from Noddle:

-------------------------------
Thanks for your email. An account in default will be reported as in default until the full amount has been paid in full and default will be removed 6 years from the date of default even if it wasn't paid in full on that date. For example your Max Recovery account will drop off your report 03/09/2015 and your Trust Deed will be removed 05/08/2015.

So I can confirm having looked though your credit report that all your accounts that were in default and are now marked as satisfied will be removed in 2015 as the date of default on then all is 2009.

I hope I have managed to explain this for you but please let me know if you have any further questions
-------------------------------------------------

So, I am not sure what happens when it 'drops off'. If it 'drops off' how can the Red DF monthly status still appear? Confused? I am

Will be interesting to hear the response TDA gets from the ICO.

OK so if I understood what I was told correctly, the record of the debt will disappear 6 years after the date of default, not 6 years after the date it is marked as settled/satisfied.

I didn't have a chance to interrogate the chap from Experian in any more detail however, but I have contact details so intend to do so as soon as I get a chance!!

Entry Number: C5 | Account Updated to: 07/12/2008

Name: MR xxxxx
Address: xxxxxx

Date of Birth: xxxxxxx

Account Type: Loan
Started: 03/05/2006
Current Balance: Settled
Payment Terms: £xxx x 66 months

Settlement Date: 17/11/2008
Notice of Correction: Y1

Partial Settlement:
Start Date: 01/12/2008

--------------------------

I have removed all personal info above, but shown this to give a better idea of what the issue is in relation to credit report.

As mentioned the defaulted account has one entry and has now dropped off as of May 2014 ( right and proper as trust deed was May 2008 )

However as you see above because the bank transfer it from "retail to collections" this takes time, in this case 6-7 months.

When you call them you get through to collections, and collections only recognise the date they internally got the memo that this account is over 6 months behind in payments ( arguable since its settled in so far as its known and agreed how it will be settled in may 2008, and they get the chance for 5 weeks to challenge that )

The net effect of this is that even at your 6 year point, you still "suffer" this time for the bank to do internal transfer, and no other bank of the 10 I had on my payee list give me this problem, to be fair none are as big as this bank I guess.

The worst of all is they tell you they are fixing it but hey do not seem to understand at all what they are taking about when they say that, and there is no obvious quick fix department that will sort this for you.

In my case its probably too late as by time I get someone it will have dropped off, but its worth others knowing this, and if we can get a judgement that may help others to know what to do, perhaps a good year in advance of their 6 year date to start chasing these topics down.

Any update on the email enquiry, TDA?

Funny you mention that upstream!

A very nice lady from the ICO called us back this morning to discuss our email enquiry.

It would be fair to say that this subject is far from straightforward from the perspective of the ICO as well as for us (and for creditors).

She's going to discuss it further with a colleague before coming back to us again.

Just jumping on this thread rather than creating another. Anyone know how to contact prudential banking (old egg loan). Theirs is the only default I am struggling to deal with!!!

Paul

OK - the article is written an should be online soon (I'll signpost it here once it is).

In the great tradition of complicated and controversial issues, it's long on content and short on definitive answers!

Here we go:

"What Can go On Your Credit Report After Signing A Trust Deed?"

(Link Removed 2020).

Congratulations to everyone who gets to the end of it without falling asleep.

Hi TDA,

I made it to the end without falling asleep and found it useful!

I'm running a training session for a housing association and 10 of their money/debt advisors on Thursday and credit rating is one the questions they had asked to find out more information on so it will come in useful for this.

I'll ask the other advisors in the office to have a read at it also as they should find it useful.

Thanks for that TDA. It was very helpful to read.

I had similar confirmed by Noddle very recently (see copy of Noddle response below), and also a member of the ICO team called me to confirm the same information. I had sent them a screenshot of the account with dates and Red Defaults to ensure they knew exactly what I was referring to separately to the default topline date.

They did say if anything was still appearing after six years, to contact the lender and if they refused to change it to contact the ICO again since the information would not be reflective of the true situation.

My suggestion is to check and work to get the default dates corrected when the Form 5 is received. You can use a copy of that document as evidence to get dates changed. Check that the Red dots show PS or S. That way, you are not starting to argue the point on everything when the six years are up, thus extending the situation by months.

I can only wait until September 2015 and see how it works in practice!

From Noddle ..................
Thanks for your email. Once the account is removed this will no longer show on your credit report and will completely be removed from your credit file.

Each account that has been in default will be removed from your file 6 years from the ÔÇÿdate of default'. The red dots appear on the account until the account is fully paid, this will all be removed when the default falls off.

So I can confirm having looked though your credit report that all your accounts that were in default and are now marked as satisfied will be removed in 2015 as the date of default on then all is 2009.

I hope this makes sense and please let me know if you have any further questions. I'm afraid as were an online company we don't have a contact number but we are more than happy to help via email. (ends)

Thanks Firewalker.

Between different sources we seem to be reaching a consensus here.

For most people this doesn't seem like it will be an issue.

That sounds like good news. I've been fairly quick off the mark trying to tidy up my credit file so I'll have to wait until the end of 2016 to see if it all disappears. Hopefully Firewalker will update us in September next year though!

I have another query about an entry on my credit file. I had a mortgage at the start of my TD but the property was in a lot of negative equity. I attempted to surrender the house and to cut a long story short, it had to be formally repossessed.

My TD was signed in November 2010. My credit file with Equifax shows the mortgage being behind from that date but the default notice isn't marked until January 2012 when the house was finally repossessed. The account is then marked settled in September 2012 when the house was sold.

Can I contact Halifax to request the default notice is put back to when the TD was signed in 2010, which would then predate all of the delinquent payment notices?