Results 1 to 4 of 4

Thread: Difference of Delinquent and Default accounts according to CRA's

  • Share
  • Thread Tools
  • Display
  1. #1
    Join Date
    May 2009
    Posts
    1,209
    Mentioned
    16 Post(s)

    Default 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

  2. #2
    Join Date
    Jul 2007
    Posts
    17,686
    Mentioned
    136 Post(s)

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

    Maybe @pt2537 or @Nibbler will know.
    Well, she's walking through the clouds, with a circus mind that's running wild
    butterflies and zebras, and moonbeams and fairy tales
    that's all she ever thinks about
    riding with the wind.

    When I'm sad, she comes to me, with a thousand smiles she gives to me free
    it's alright, she says it's alright, take anything you want from me
    anything.

    Fly on little wing.

    Jimi Hendrix



  3. #3
    Join Date
    Oct 2007
    Posts
    3,868
    Mentioned
    253 Post(s)

    Default 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.


  4. #4
    Join Date
    May 2009
    Posts
    1,209
    Mentioned
    16 Post(s)

    Default 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!!!!

Similar Threads

  1. Delinquent account with Natwest
    By gsplass in forum Money & Debt
    Replies: 14
    : 13th July 2016, 11:35:AM
  2. Delinquent Bank Account
    By big_al in forum Welcome Forum
    Replies: 3
    : 20th June 2016, 10:02:AM
  3. Replies: 0
    : 30th October 2015, 23:40:PM
  4. mbna delinquent account
    By javorb5 in forum MBNA
    Replies: 1
    : 11th April 2013, 08:20:AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Contact Us



© Celame (UK) Ltd 2016
Hosted by Lodge Information Services Ltd
LegalBeagles® are DPA Registered No. ZA158014
LegalBeagles® is the trading name of CELAME (UK) LIMITED ( 09220332 )
Registered Address: 25 Moorgate, London, England, EC2R 6AY
VAT registration number 206 9740 02
User Alert System provided by Advanced User Tagging v3.1.3 (Lite) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.
Feedback Buttons provided by Advanced Post Thanks / Like (Lite) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd. Runs best on HiVelocity Hosting.
Celame (UK) Ltd Powered by vBulletin® Version 4.2.3
Copyright © 2017 vBulletin Solutions, Inc. All rights reserved.

To find out more about managing your money and getting free advice, visit the Money Advice Service,an independent service set up to help people manage their money.

TOP