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Sorry, another default post.

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  • Sorry, another default post.


    Hi everyone, I'm new here. I've been doing some reading about getting defaults removed but I'm a bit confused by all the info. I'm hoping someone can help me with a couple of questions
    1- I defaulted on a loan with HSBC in 2007 which was then passed on to a dca called sigma red. having checked my credit file sigma have recorded the default as a different date to HSBC. So can I get this default removed due to it being incorrect? Are there any template letters I can use?

    2- I have 2 defaults registered with Lowell, one with barclaycard and the other with shop direct.I'm going to try and get them removed as I never received default notices. My question is do I ask the oc's to remove them or lowell? They are on my credit file under Lowell.

    Thanks everyone.
    Tags: None

  • #2
    Re: Sorry, another default post.

    Hi, am sure someone will be on soon to advise...

    Comment


    • #3
      Re: Sorry, another default post.

      Originally posted by cam1980 View Post
      Hi everyone, I'm new here. I've been doing some reading about getting defaults removed but I'm a bit confused by all the info. I'm hoping someone can help me with a couple of questions
      1- I defaulted on a loan with HSBC in 2007 which was then passed on to a dca called sigma red. having checked my credit file sigma have recorded the default as a different date to HSBC. So can I get this default removed due to it being incorrect? Are there any template letters I can use?

      2- I have 2 defaults registered with Lowell, one with barclaycard and the other with shop direct.I'm going to try and get them removed as I never received default notices. My question is do I ask the oc's to remove them or lowell? They are on my credit file under Lowell.

      Thanks everyone.
      Regarding item 2:

      Defaults recorded with the Credit Reference Agencies (Experian, Equifax etc) are a completely different kettle of fish to a Default Notice from a creditor.

      A notice of default on your CRA record is simply a note that you have missed (usually 3) payments. It is simply recording the behaviour of your account. It will stay on your record for 6 years, even if you subsequently bring payments up to date.

      A Default Notice on the other hand is a legal and legally required document necessarily issued by the creditor before he can institute proceedings to recover the debt. This can be voided by paying the arrears within the time stated on the Notice (this HAS to be minimum 14 days from RECEIPT).

      Neither is dependent upon the other however.

      Re. item 1:

      Did HSBC issue a Default Notice (not the record on your Credit File)?

      Again the DCA (assuming they now own the debt) can record the default with the CRA at any time.

      In any event the discrepancy in default dates would be regarded as de minimis (the disadvantage to the debtor is too small to be concerned with).
      They were out to get me!! But now it's too late!!

      Comment


      • #4
        Re: Sorry, another default post.

        Originally posted by basa48 View Post
        Regarding item 2:

        Defaults recorded with the Credit Reference Agencies (Experian, Equifax etc) are a completely different kettle of fish to a Default Notice from a creditor.

        A notice of default on your CRA record is simply a note that you have missed (usually 3) payments. It is simply recording the behaviour of your account. It will stay on your record for 6 years, even if you subsequently bring payments up to date.

        A Default Notice on the other hand is a legal and legally required document necessarily issued by the creditor before he can institute proceedings to recover the debt. This can be voided by paying the arrears within the time stated on the Notice (this HAS to be minimum 14 days from RECEIPT).

        Neither is dependent upon the other however.

        Re. item 1:

        Did HSBC issue a Default Notice (not the record on your Credit File)?

        Again the DCA (assuming they now own the debt) can record the default with the CRA at any time.

        In any event the discrepancy in default dates would be regarded as de minimis (the disadvantage to the debtor is too small to be concerned with).
        Don't mean to hijack the thread, but you say the default on a CRA file lasts 6 years ? What if the OC is still in an arrangement for monthly payments with the debtor and there is still an o/s balance ? Does it just continue or does it have to be re-defaulted ?

        Comment


        • #5
          Re: Sorry, another default post.

          Originally posted by jax50 View Post
          Don't mean to hijack the thread, but you say the default on a CRA file lasts 6 years ? What if the OC is still in an arrangement for monthly payments with the debtor and there is still an o/s balance ? Does it just continue or does it have to be re-defaulted ?
          Arrangements to pay are still a default (since you are not making the contractual payments) and yes they will stay 6 years.

          Not sure what happens regarding further defaults if you stop the agreed payments. I suspect they would record another default.
          They were out to get me!! But now it's too late!!

          Comment


          • #6
            Re: Sorry, another default post.

            Originally posted by jax50 View Post
            Don't mean to hijack the thread, but you say the default on a CRA file lasts 6 years ? What if the OC is still in an arrangement for monthly payments with the debtor and there is still an o/s balance ? Does it just continue or does it have to be re-defaulted ?
            If there is a default recorded, then the default and all details of the account will be removed from the CRAs 6 years from that default. That will happen regardless of whether an arrangement or outstanding balance exists at that 6 year point.

            Originally posted by basa48 View Post
            Arrangements to pay are still a default (since you are not making the contractual payments) and yes they will stay 6 years.

            Not sure what happens regarding further defaults if you stop the agreed payments. I suspect they would record another default.
            Formal arrangements to pay are not always an automatic default. At least, not if the are only short term in duration (6 months or less).

            And once one default has been recorded with the CRAs, that is it. They cannot record another. No matter what your subsequent payment history may do.

            Comment


            • #7
              Re: Sorry, another default post.

              Originally posted by cam1980 View Post
              Hi everyone, I'm new here. I've been doing some reading about getting defaults removed but I'm a bit confused by all the info. I'm hoping someone can help me with a couple of questions
              1- I defaulted on a loan with HSBC in 2007 which was then passed on to a dca called sigma red. having checked my credit file sigma have recorded the default as a different date to HSBC. So can I get this default removed due to it being incorrect? Are there any template letters I can use?
              Do the defaults from sigma show in addition to the ones from HSBC on your file? Or have they replaced the original HSBC ones?

              You should only have one showing per account, and that should be dated as per the original.

              I can't imagine that you would be able to get all defaults deleted.

              Instead a realistic outcome would be just one default per account with the correct date. Most likely in Sigma's name, as they have likely taken over control of the CRA record.

              Comment


              • #8
                Re: Sorry, another default post.

                Thanks for that basa 48. Having paid a reduced amount now for 6 years, and the 'over limit' has now been paid off so I'm actually under my previous credit limit on the card, but still paying reduced amounts to pay off the 'balance' on the card...6 years later...is that still still a default position ? I suppose as I am paying the 'agreed' amounts as per what the creditor has agreed with me, but not the original contracted amounts, you might say it is still a default...even though the OC has terminated the agreement with a default notice to enable them to put me on a reduced payment agreement. I might ask them. To be honest the OC have been great with me, never added a 1p throughout this 6 year period and never given me any hassle at all, so it would seem ungracious to hassle them under those circumstances. Maybe a nice polite letter would be in order, thanking them but also asking about the CRA entry.?

                Comment


                • #9
                  Re: Sorry, another default post.

                  Originally posted by jax50 View Post
                  Thanks for that basa 48. Having paid a reduced amount now for 6 years, and the 'over limit' has now been paid off so I'm actually under my previous credit limit on the card, but still paying reduced amounts to pay off the 'balance' on the card...6 years later...is that still still a default position ? I suppose as I am paying the 'agreed' amounts as per what the creditor has agreed with me, but not the original contracted amounts, you might say it is still a default...even though the OC has terminated the agreement with a default notice to enable them to put me on a reduced payment agreement. I might ask them. To be honest the OC have been great with me, never added a 1p throughout this 6 year period and never given me any hassle at all, so it would seem ungracious to hassle them under those circumstances. Maybe a nice polite letter would be in order, thanking them but also asking about the CRA entry.?
                  If your Creditor has been reasonable throughout then such a letter may yield a successful result. Good Luck x
                  "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

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