Default Notices: time to remedy

[Angry Cat]

Re: Default Notices: time to remedy

It is not unusual for lenders to make mistakes when they record information with the CRA's and the CRA's do NOT validate said information. The CRA's just accept that the lender is correct, that the information recorded with them, is correct.

Very Important, to audit one's credit file regularly!!!

[jumper999]

Re: Default Notices: time to remedy

Sorry AME, I am not having ago, just a little peed off with all this.

In Sep 08 payment £60 payment was required, I paid £300

In Oct 08 I paid 10 times more than the minimum payment and the same in Nov 08 and Dec 08,

In the letter that I wrote to HSBC it was to inform the them that in a few months I will be expecting to be in difficulty due to unexpected sky high Utility Bills.

No arrears in Aug, Sept. Oct ,Nov or Dec 08. Arrears started in Feb 09
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It is not unusual for lenders to make mistakes when they record information with the CRA's and the CRA's do NOT validate said information. The CRA's just accept that the lender is correct, that the information recorded with them, is correct.

Very Important, to audit one's credit file regularly!!!

In future I will bear that in mind, thank you AC.

[Angry Cat]

Re: Default Notices: time to remedy

...I'd be tempted to get a full one from Experian and co in paper form too tho.

Always, apply for all three:
Equifax;
Experian and;
Callcredit!

[jumper999]

Re: Default Notices: time to remedy

Thanks AC, I already have done that.

[Amethyst]

Re: Default Notices: time to remedy

Yep so look like they are reporting a few months backdated. So you could get it corrected, if you wanted to. The Default was actually in June, not April, so its recorded 2 months early, and it should only show 4 late markers (Feb 1, March 2, April 3, May 4, Default)

Much more likely to be that than forged docs, that was all I was trying to show.

[Amethyst]

Re: Default Notices: time to remedy

Thanks AC, I already have done that.

do they all show the same thing ?

[jumper999]

Re: Default Notices: time to remedy

Yep so look like they are reporting a few months backdated. So you could get it corrected, if you wanted to. The Default was actually in June, not April, so its recorded 2 months early, and it should only show 4 late markers (Feb 1, March 2, April 3, May 4, Default)

Much more likely to be that than forged docs, that was all I was trying to show.

mmmmmmmm, put the forge doc theory to one side for a bit.

DN that HSBC served is May 09, by then by I missed 3 mths payments but I was in communication with them.

HSBC marked by credit file "account closed in April 09", that would be prior to them sending me a Default Notice, and how did they manage to state a figure that could only be calculated after several months when they closed my account? HSBC told the FOS that they closed my account in Sept 09.

HSBC did not send me one single letter advising that would report me to the CRA, there are too many discrepancies, even IF the account was opened in Jan 06, the information they have recorded is no way near the truth.
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do they all show the same thing ?

Yes they do
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Yep so look like they are reporting a few months backdated. So you could get it corrected, if you wanted to. The Default was actually in June, not April, so its recorded 2 months early, and it should only show 4 late markers (Feb 1, March 2, April 3, May 4, Default)

Much more likely to be that than forged docs, that was all I was trying to show.

AME I appreciate the help you are giving but you are way off here . I don't know if I am not explaining it correctly or what?

If I am sent a DN in May 09, then my credit file should show a Default registered in May 09 and not a month before, and registered closed.

If we say that I should get it corrected and bring the credit file to reflect 06, what about all the other false statements that HSBC have so kindly reported?

[Angry Cat]

Re: Default Notices: time to remedy

do they all show the same thing ?

Always best to check all three and regularly.

No, they will not all show the same information, although they should in reality.

You may find that one makes no mention of the account;
another may state a slightly diiferent date of default and;
if a correction is made, one of the other CRA's may carry on processing or, even re-record removed information.

I have been auditing my CRA files (all three) for six years now and find it astonishing that they make so many mistakes.

Keep checking those files, Guys!

[Amethyst]

Re: Default Notices: time to remedy

If you hedge it all forwards so the start date is right.....then it comes out so the default is recorded in August 09 (I think) after 6 missed payments (feb. mar, april, may, june, july)

[jumper999]

Re: Default Notices: time to remedy

Thanks AC & Ame, this is a very complicated mess, yes I guess if you do edge it forward then it would reflect Aug..........which brings me to get even more mad, is that, had they agreed to let me pay lower payments in the first place then there would have been no need to edge anything forward.........

BUT that can't be right either because they served me with a DN in May 09, albeit a faulty one too.

[Amethyst]

Re: Default Notices: time to remedy

DN gives you time to remedy, they gave you more time........a DN doesnt mean a D on your file. The D is when they decide it is past remedy, and August fits with that. I reckon theres some fault in their reporting, maybe the start date was input wrongly or something, then each month the updates have just carried it on making everything four/five months earlier.

I'd ask them to fix it.

[jumper999]

Re: Default Notices: time to remedy

But it if so, it is not just the start date that they have put in incorrectly is? What about recording all the other incorrect data on my file? Should I ask them to fix that too?

Also if they did correct it to show account started from Jan 06, and showed that I was 6 mths in arrears beginning from Jan 06, that too would be incorrect as I made my final payment in Jan 06.

And according to the Default Notice that they sent me I was only in 3 months arrears. I think the only way to fix this problem is that through the courts.

I don't think the start date was put in incorrectly at all, I think they did put it in correctly, lost my cca application, then done a recon as when I opened my account I had a limit of £2,5k not £3k as they state, they put this figure up later themselves. Have I proof, no, but I am able to swear a statement of truth on this.

[Amethyst]

Re: Default Notices: time to remedy

A statement of truth that you actually opened the account in August 2005 ? You really would need some evidence to back that up as it makes things very serious against HSBC - forgery, fraud etc. It isnt going to go undefended.

Have you got bank statements showing payments or anything like that ? Record of something purchased. Did you use the account between Aug 05 and Jan 06 ?

A incorrect credit file can be corrected, and if it was to your actual detriment then damages etc through the court. I still think its more that than the other, even if you would prefer it to be the other.

(and yes if they fix the start date they shift every month from there forwards accordingly) And in May you did have 3 months arrears - April, March and Feb.

[paulb2905]

Re: Default Notices: time to remedy

Jumper think things are getting a bit confusing with your case, it would help to re-list it a little for everyone concerned;

When did you take out the Credit Agreement (lets call this A)
Where there any issues with this account before you lost the card and the a/c number changed (next query)
When did the account number change following loss of card (lets call this B)
When did you miss the 1st payment (or fail to make the minimum) on either A or B (i think you said its on B from what i can gather)
Miss 2nd Payment, 3rd etc etc
When did you receive the Default Notice (if at all) eg date on it, remedy by date, amount to remedy - was this the arrears or full balance?
When did they terminate the account (write saying terminate or sell to DCA)

If im reading this correctly it looks like they have reconstructed your credit agreement based on "B" being the time you took out the Agreement (and it sounds fraudulent to me as they have "applied" your signature to a document that you would never have signed) as this should have been back when the original "A" was taken out.........

Credit Reporting
Its possible a CCard may appear on your history but its equally possible that it doesnt, it would show a credit search "footprint" though for when you applied.
If it was a Loan or some other type of agreement requiring regular monthly payments to reduce an amount of money "lent" to you this should always show up on your credit file. So its most likely that a CCard in arrears will appear at this point as a "loan" would do from the start. - Does that make sense?

Peter is correct that a Default on your credit file IS different to a Default Notice - its usually after 6 months in arrears (ie the 7th month onwards) that a "D" will show on your file (regardless of token payments or the creditors agreement to accept token payments - as you have failed to make the contractual minimum amount paid)

[jumper999]

Re: Default Notices: time to remedy

Thanks paul, I have not got time at present but will be back later and put everything in date order,

thanks again