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Difference of Delinquent and Default accounts according to CRA's

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  • Difference of Delinquent and Default accounts according to CRA's

    Hi all,

    I have had a VERY long battle with a company who have marked my credit file as delinquent for years. This has had a huge financial impact on me and I have given up applying for credit due to all the refusals I have had because of this issue.

    I have noticed in the past couple of days that there maybe a light at the end of the tunnel........

    I have known all along that with defaulted accounts they automatically drop off your credit file after six years (paid off or not).

    Is it true that with accounts that have been noted as delinquent for years they automatically eventually drop off the credit report too? Through a search engine some say it is 7 years from original delinquency date irrespective whether the account has been sold to another company or paid off or not.

    It seems that a delinquent account is viewed more harsh than a defaulted account, which I always thought was the other way round.

    Can anyone shed more light on this matter.

    Many thanks xx
    Tags: None

  • #2
    Re: Difference of Delinquent and Default accounts according to CRA's

    Maybe [MENTION=551]pt2537[/MENTION] or [MENTION=1508]Nibbler[/MENTION] will know.

    I like your pin shot
    I keep it with your letter
    Done up in blueprint blue
    It sure looks good on you
    And when you smile for the camera
    I know I'll love you better

    Then the shutter falls
    You see it all in 3-D
    It's your favorite foreign movie

    'Peg'

    Donald Jay Fagen

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    • #3
      Re: Difference of Delinquent and Default accounts according to CRA's

      I think the important thing to think of when considering data which is being processed, is that under the Data Protection Act 1998 data must only be processed for as long as is necessary. I cannot see that a delinquent account is any different to a defaulted account, and i cannot see any reason why the data should stay past 6 years. Thats my view provisionally on this point,
      I work for QualitySolicitors Howlett Clarke in the Consumer Credit Department. I give my free time available to helping other on the forum and would be happy to try and assist informally where needed. Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability.

      I have been involved in leading consumer credit and data protection cases including Harrison v Link Financial Limited (High Court), Grace v Blackhorse (Court of Appeal) and also Kotecha v Phoenix Recoveries (Court of Appeal) along with a number of other reported cases and often blog about all things consumer law orientated.



      You can also follow my blog on consumer credit here.

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      • #4
        Re: Difference of Delinquent and Default accounts according to CRA's

        I have just spoken to a manager at Experian and they have advised me that for as long as the account is not settled/closed a delinquent account can remain on file indefinitely !

        At least with a defaulted account it (only?) stays on CRA records for six years ........

        It appears on the surface of things that defaults are better than a delinquency.

        The account in question is an unregulated secured loan that has been marked as delinquent for almost ten years. Whether we pay or not makes no difference to Credit Reference Record reporting .

        Very frustrating!!!!

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