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Three years ago I completed a VT on a car. I had paid over 50%, sent recorded delivery letter, spoke to lender etc all good. Car was collected, retained proof of the condition of the car, copies of service history etc, didnt sign any condition report, basically here's the keys thanks bye.
Lender then wrote advising of extra charges for condition and mileage. I called immediately to dispute. Eventually they offered me a considerable discount if it was paid right away or they said they would pursue me for the full amount. I paid, stating I was paying under duress and without prejudice which they did not object to.
All was done and dusted, finance showed as SETTLED on my credit file and I got on with life.
My bank has recently started allowing customers to view a credit score with one of their partners. I thought I'd take a look. My score was much lower than I expected. Previously with Experian my score had been 999 and rightly so, I dont really have any debt - mortgage, personal loan for a car and a credit card I pay off every month plus utilities. I dont miss payments, no payment holidays etc.
So after much digging with the bank's partner agency I have found that the car finance company updated my credit file in 2021, nearly 18 months after settlement, this time to SATISFIED - and I can see the file now shows a small default with the default and the settlement on the same date.
Surely this is wrong - when you default someone you need to give them what 14 days to pay? And of course there was no default on this agreement - payments were made on time til the point the agreement was terminated by me and then their additional charges I disputed and then agreed to pay. I've never seen a default notice issued or I'd have hit the roof at the time.
I've raised a complaint with the lender.
This seems really underhand and sour grapes on their part.
Anyone else experienced this or have any advice?
Lender then wrote advising of extra charges for condition and mileage. I called immediately to dispute. Eventually they offered me a considerable discount if it was paid right away or they said they would pursue me for the full amount. I paid, stating I was paying under duress and without prejudice which they did not object to.
All was done and dusted, finance showed as SETTLED on my credit file and I got on with life.
My bank has recently started allowing customers to view a credit score with one of their partners. I thought I'd take a look. My score was much lower than I expected. Previously with Experian my score had been 999 and rightly so, I dont really have any debt - mortgage, personal loan for a car and a credit card I pay off every month plus utilities. I dont miss payments, no payment holidays etc.
So after much digging with the bank's partner agency I have found that the car finance company updated my credit file in 2021, nearly 18 months after settlement, this time to SATISFIED - and I can see the file now shows a small default with the default and the settlement on the same date.
Surely this is wrong - when you default someone you need to give them what 14 days to pay? And of course there was no default on this agreement - payments were made on time til the point the agreement was terminated by me and then their additional charges I disputed and then agreed to pay. I've never seen a default notice issued or I'd have hit the roof at the time.
I've raised a complaint with the lender.
This seems really underhand and sour grapes on their part.
Anyone else experienced this or have any advice?
