Data Protection Basics and other useful information

[leclerc]

Re: Data Protection Basics and other useful information

He doesnt have one atm. regarding opting out I dont believe he ever opted in??

How old is he?

[Delboy01]

Re: Data Protection Basics and other useful information

How old is he?

18 YO

[The Debt Star]

Re: Data Protection Basics and other useful information

Casper, I tried asking this on a different thread without any joy. Perhaps you can tell me.

what happens on one's credit file when a Default reaches its 6th anniversary. Is it auto removed by the CRAs or do you have to apply for it to be removed?

Also, do creditors then plonk on an Arrangement to Pay indicator or similar to replace the removed Default?

[Caspar]

Re: Data Protection Basics and other useful information

DS - dug this out on the net, hopefully tells you what you want (or as I suspect what you don't want). The important bit to me is the bit about the rolling log - when you read it, it will make sense! If this isn't what you were after I'll have another go.

If you are referring to what happens to your credit file 6 years after a default has been applied in the UK, then the simple answer is the default is removed.

All references applied to your credit file are automatically removed after 6 years, including defaults and CCJ's .

It's best to imagine your credit file is a rolling log of the previous 6 years of your credit history.

However, because you are making payments, the debt is still alive (and will not become statute barred), therefore it will stay on your credit report as an outstanding debt until it has been fully repaid.

There will be a note added next to the debt level on your credit report which states that you are in an arrangement over the repayment of that debt at reduced payments, which in itself is a separate 'black mark' to the original default notice.

This mark will remain until the debt is repaid in full and is supposed to alert creditors to the fact that you are still experiencing financial difficulties.

[The Debt Star]

Re: Data Protection Basics and other useful information

yep, thats what i thought. However, i suspect that even if you pay the debt off that black marker remains on the file for a further 6 years. For example, I have a dozen old accounts on my credit file, all paid up and marked as "settled." They are on there I assume until the 6th anniversary.
------------------------------- merged -------------------------------
in short its a load of hogwash that credit files repair when a default drops off, if, that is, the debtor is still paying the creditor.

it is best then to default, not pay them a penny, get a ccj and dig your heels in and not pay for 6 years. then no additional black marker.

odd how the credit industry punishes those who fall into difficulties but who nonetheless continue their repayments.

big disparity there methinks

[Caspar]

Re: Data Protection Basics and other useful information

DS,

You are right. However I can't really comment on non payers as I'm one of them. As you know, the CAB advised me to stop paying a penny three years ago now. I did and nothing seems to have changed except I've got a bit more money.

I am in no way condoning not paying debts for anybody else reading this thread - DS knows my personal set of circumstances so knows why I don't pay anyone other than priority bills which are maintained meticulously.

[The Debt Star]

Re: Data Protection Basics and other useful information

unless that info you've found on default removal is incorrect? If it is wrong, then of course there is every reason to continue to pay.

[Caspar]

Re: Data Protection Basics and other useful information

If it is wrong, it's wrong in a lot of places. Just looked it up again on several different sites. If you are not paying the debt, then it would appear that the default does fall off with the debt. As you've not paid anything for 6 years it all drops off. If you are paying, the default would drop off, but there would be a marker of some sort placed against that debt.

Kind of makes sense, but hardly encourages people to pay up.