Having default dates amended?

[EJ4]

Hi,

Advice would be greatly appreciated. Three of the four default dates reported on my credit files are incorrect. My accounts defaulted in late 2017/early 2018 and I contacted Step Change Debt Charity in May of 2018 setting up a re-payment plan to each of the four lenders at that time.

As I understand it, defaults should have been applied when the payment plan began, or earlier when there were several missed or incorrect payments?

Two of the debts were later purchased by Lowell Financial Ltd in 2020, who then applied defaults in June and September of that year (no defaults had been recorded by original lenders). Am I correct in saying that Lowell should have applied the same ICO rule that the original lenders should have used i.e. - May 2018? Is there a grey area here or are they likely to correct the information? In this case my defaults could be gone next month.

When writing to the original lenders asking them to amend the dates, is there particular wording I should include?

Thank you very much for your time.

[ULA]

echat11 can you assist please?

[echat11]

ULA I've responded on one of the OP's other threads, albeit a different question. All help can be provided on the one thread, starting a thread for different questions, just 'clutters' up the forum.

Write to Lowell's see if they are willing to amend the default dates, explain why they are incorrect. See what their response is, update the thread.

[EJ4]

Hi echat11 - I'm sorry I thought I was making matters easier by starting a new thread with a new title; I will stick to one thread. I don't recall asking anything about default rules, however if you have some time I'd be very grateful for some guidance about one company's response:
I stopped making payments on a Nationwide Credit Card in January/February 2018. I contacted Step Change Debt Charity in April of 2018 and a DMP became effective from May – with approx’ 6 years to run (I’m still on this plan). Nationwide registered a default a year later in May of 2019. Nationwide just agreed it was incorrectly reported and will amend to December 2018. I don’t feel this to be a true reflection of events and requested it be amended to the start of the DMP. Nationwide are standing firm that an account will only default after 4 missed payments. Presumably this would include reduced payments on DMP? Should Nationwide be taking into consideration the payments I missed prior to the DMP coming into effect? I was making the same reduced payments via Step Change in the 4 months leading up to December 2018 so this date makes no sense to me. Please could I ask for some advice about where I stand on this matter, please? Many thanks, I appreciate your time.

[echat11]

Hi echat11 - I'm sorry I thought I was making matters easier by starting a new thread with a new title; I will stick to one thread. I don't recall asking anything about default rules, however if you have some time I'd be very grateful for some guidance about one company's response:
I stopped making payments on a Nationwide Credit Card in January/February 2018. I contacted Step Change Debt Charity in April of 2018 and a DMP became effective from May – with approx’ 6 years to run (I’m still on this plan). Nationwide registered a default a year later in May of 2019. Nationwide just agreed it was incorrectly reported and will amend to December 2018. I don’t feel this to be a true reflection of events and requested it be amended to the start of the DMP. Nationwide are standing firm that an account will only default after 4 missed payments. Presumably this would include reduced payments on DMP? Should Nationwide be taking into consideration the payments I missed prior to the DMP coming into effect? I was making the same reduced payments via Step Change in the 4 months leading up to December 2018 so this date makes no sense to me. Please could I ask for some advice about where I stand on this matter, please? Many thanks, I appreciate your time.

There will be Terms and Conditions which are apply to the Nationwide Credit Card.
If the account should have been Defaulted after 4 missed payments, then the Default should have been applied to the account in May 2018 / June 2018, not December 2018. You've made inquiries regards the Default, now lodge a Formal Complaint, follow the Complaints procedure set out on Nationwide's website.

Update the thread when you get a response.