Defaults on my credit report

[beerye]

Hi, could you help me with some advice on two accounts that have defaults.

I have checked my credit report with Noddle and Equifax and there are two accounts with a default status.

The OC for the Credit Card was Barclaycard. The first payment missed was in July 2009. They didn’t flag it as defaulted until 18 months later in Dec 2010. This was bought by Lowell.

The OC for the Bank Account was LloydsTSB. The first payment missed was also in July 2009. The debt is now with MKDP and the default date is Jan 2010. Lowell originally took me to court and with your help I received a notice of discontinuance.

I did have other accounts that have dropped off my credit report but these 2 have for some reason been left on. It’s been over 6 years and there has been no payments or acknowledgement from myself since.

My questions are:

Should these account still be on my credit report?

Do you count from the first missed payment or the default date for these both be statute barred?

Can they default after 6 months or 18 months after a missed payment?

I hope you can help,

B

[nemesis45]

Re: Defaults on my credit report

Hi welcome to LB,

Barcalys / Barclay card often delayed defaulting accounts after a Default Notice is issued, the first missed payment would not result in any action what you say indicates that may be the odd payment may have been made later? Default dates and statute barred are not synonymous.

Debts with a default date in 2010 would not be removed from CRA file until the 6th anniversary of the default date sometime in 2016.

Lowell selling on a debt after discontinuing a claim is not unusual. Any CC court claim stops the 6 year clock on the date it's issued.

Statute Barred in England & Wales = 6 clear years with no payment or unequivocal written acknowledgment of a debt, as above a court claim stops the clock.

Bank accounts/overdrafts are treated differently from credit cards, the limitation period starts from when the bank can first demand immediate repayment of all outstanding amounts, e.g. a demand for payment or final demand this can result in a later recorded default.

The information Commissioners Office states that defaults "should " be recorded within 6 months of the cause of action but tis is guidance only and contractual terms and the creditors internal systems may vary this.

Any disputes on CRA files regarding defaults and the dates they are recorded should be addressed to the Data Controller at the creditors head office, the DCA/ debt purchaser only up dates files with their data the default date cannot be changed / removed by them.

nem

[FlamingParrot]

Re: Defaults on my credit report

Hi, could you help me with some advice on two accounts that have defaults.

I have checked my credit report with Noddle and Equifax and there are two accounts with a default status.

The OC for the Credit Card was Barclaycard. The first payment missed was in July 2009. They didn’t flag it as defaulted until 18 months later in Dec 2010. This was bought by Lowell.

This one should definitely be amended because the guidelines state three to six months after missing a payment, not 18 months! That default was at least a year late and it should be Dec 2009 at the latest. :thumb:

The OC for the Bank Account was LloydsTSB. The first payment missed was also in July 2009. The debt is now with MKDP and the default date is Jan 2010.

This one's probably correct. There are no set repayment dates for overdrafts as they are just facilities attached to a current account so there wouldn't have been a 'missed' payment as such as with the credit card, just the last time you paid money into the current account. For that reason, banks often take their time before recalling overdrafts as they can't tell whether you'd go back to using the account or not. In this case, six months would appear reasonable, and it doesn't have long to run. :thumb:

Lowell originally took me to court and with your help I received a notice of discontinuance.

Cheeky sods, so they sold it to MKDP after they failed to find the documents, I wonder how much the bottom feeders paid for it, £2? :lol:

Should these account still be on my credit report?

Only the overdraft.

Do you count from the first missed payment or the default date for these both be statute barred?

Usually the first missed payment for the credit card but overdrafts are different as explained above. The default date on your credit files has nothing to do with the debts being SBd or not, it's only important for the purposes of having a clean file.

Can they default after 6 months

Yes :sad:

or 18 months after a missed payment?

Nope! :nono:

[beerye]

Re: Defaults on my credit report

Thanks for replies nem and FlamingParrot,

Is there an example of a letter I can adjust to send to Barclaycard? What’s the best way to say I don’t acknowledge this debt but can you let me know when it was defaulted and why did it take 18 months?

If they do adjust the default date on the closed account in the credit report will the DCA adjust it too?

Lowell have offered a 50% reduction and ‘partially satisfied’ after final payment on the CC. Should I try and bargain with them to change the status?

Thanks for your help,

B