Have your say on government e-petitions

Reduce the 'Default' notice expiry time on credit reports

Submitted on Thursday 15th September 2011

Published on Friday 16th September 2011

Current status: Closed

Closed: Sunday 16th September 2012

Signatures: 20

Tagged with

remain

Petition Action

Reduce the 'Default' notice expiry time on credit reports

Additional Information

Once you have paid a debt, if it has reached 'Default' status on your credit report, whether you have paid it off or not, it remains there for six years. This is still the case should you be paying it back on a reduce amount agreement; if you do not make the originally agreed monthly payment, it will 'Default' and remain there for six years (despite you meeting the new agreed monthly figure), stopping you getting a mortgage etc. This is too long a time to pay for bad judgement, considering the current sentencing for actual crimes. This should be reduced to a maximum of 1 year from the date the account is 'Settled', if not removed immediately.


You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!

Have your say on this petition!

comments powered by Disqus

repetition.me is a Good Stuff website

18.116.19.29 Mon, 23 Dec 2024 00:13:28 +0000