Satisfied/Default

[Timed~Out]

Looking for some advice if possible.

I have had credit problems with defaults in the past which are thankfully coming up on the 6 year point now and I was hoping to start with a clean slate. I have checked my credit report on Noddle and the last of my defaults which is from Barclaycard will drop off my report in June this year. When I look at my closed accounts though, Barclaycard show my account with them as defaulted in June 2009 but satisfied in Feb 2011.

Does this mean that Barclaycard will haunt me for another few years and not drop from my credit report until Feb 2017?

I have been trying to understand the difference in default and satisfied but am going round in circles, some posts on various sites indicate that a "satisfied" will stop any kind of finance etc.

[Debt Camel]

Re: Satisfied/Default

The record will drop off your credit file 6 years after the default date.

Satisfied means the account has been paid. It is better than having a balance owing on a defaulted account. It is the default on your record that will make it hard to obtain credit, not the satisfied marker.

[nemesis45]

Re: Satisfied/Default

Looking for some advice if possible.

I have had credit problems with defaults in the past which are thankfully coming up on the 6 year point now and I was hoping to start with a clean slate. I have checked my credit report on Noddle and the last of my defaults which is from Barclaycard will drop off my report in June this year. When I look at my closed accounts though, Barclaycard show my account with them as defaulted in June 2009 but satisfied in Feb 2011.

Does this mean that Barclaycard will haunt me for another few years and not drop from my credit report until Feb 2017?

I have been trying to understand the difference in default and satisfied but am going round in circles, some posts on various sites indicate that a "satisfied" will stop any kind of finance etc.

Settled paid of under normal circumstances, satisfied paid after a default has been paid off:
Either are used by some creditors when a debt purchaser has bought a debt.
All defaulted accounts are removed on the 6th anniversary of the default paid or not.

nem

[Timed~Out]

Re: Satisfied/Default

Thanks for the responses, maybe I havn`t understood it properly or maybe not explained it properly! The Barclaycard default is listed in the Open Accounts section of my credit report with a default date of xx June 2009 so I understand this will automatically drop off on xx June 2015. This is recorded by Cabot who were chasing me but thanks to advice gleaned from this website were unsuccessful despite threatening me with everything from bankruptcy to repossessing my house.

The part that is concerning me is under the Closed Accounts section where Barclaycard have recorded the same account with the same default date but with an added date of xx Feb 2011 where the account was ended. It says DA in a red circle which is Debt Assigned I think? My worry is that this part will continue to show on my credit record until xx Feb 2017. Or will this also drop off once the default date has passed the 6 year point?

Does this make any more sense? Sorry if I am confusing the issue and thanks again for any help.

[nemesis45]

Re: Satisfied/Default

That part of your credit file is I think only seen by you.
Otherwise this would negate the 6 year paid or not removal of default
entries.
Cabot are much in the habit in issuing claim right up to the default date and removal so keep a close eye.

Removal from of an account does Not Necessarily mean the debt is statute barred.

nem