Guys would greatly appreciate your advice on these Defaults

[SimpleSimon]

Hi everyone, so glad I found this forum and sincerely hope someone out there can give me some direction as asked alot of people about this and most
were very sketchy with their answers

I am in the process of remortgaging and found out my credit file has 3 defaults on there ( did not check in 2 years ) as no credit needed
the details of the defaults are as follows and yes currently with a debt management company ( Yes, I will try and go it alone after I try to sort this out )
entered into agreement with Eurodebt in 2004 by standing order to creditors (did not realize massive implications long term on credit file)


Default 1: Barclaycard account started in Aug-2004, default registered in May-2009 default amount £1861 despite being payed by Eurodebt under an arrangement
current balance £1775.


Default 2: LloydsTSB Card account started in July -1995, default registered in April-2011
default amount £5270 despite being payed by Eurodebt under an arrangement
current balance £5131.


Default 3: Capital One Card account started in April -2003 default registered in April 2009
default amount £2743 despite being settled by Eurodebt in May 2009 as part of full and final settlement agreement.

Question?

I know I have defaulted on these account there is no dispute there but the where dates are concerned surely they should of been registered earlier?

I cannot find proof of default notices for 2 of 3 is it possible for me to dispute these or at least get correct dates amended?

If I cannot remortgage then I will be deep in trouble so any advice no matter how harsh is appreciated

I look forward to your reply many thanks upfront

[labman]

Re: Guys would greatly appreciate your advice on these Defaults

If you do not dispute the defaults, there is little you can do. You can check Default Notices (DN's) were issued correctly, or issued at all, but TBH they can just produce a valid one. Although it is good practice to register defaults earlier on, the reason these companies delay is that the default stays on your CRF for 6 years. If they don't register the default for, say, five years, they can destry your credit for 11 years. It is a common ploy unfortunately.

I hope someone will be along who knows a way round it for you, but I don't sorry!

[SimpleSimon]

Re: Guys would greatly appreciate your advice on these Defaults

Labman,

thanks for your reply, appreciated , have done a little digging on here and found the defaults are suppose to be registered by specific guidelines see below I think in this case they are incorrect but know how corrupt they can be - need some more info before I launch my case with them

Before you get a default put on your credit file, you should have received a default notice through the post. If this was not sent, then you may be able to argue that the default should be removed as the proper procedures were not followed. You are supposed to have time between receiving the notice to pay the debt before it is put on your file.

Also make sure that the date of the default on your credit file is correct. It is supposed to be the date of the actual default - when you missed the first payment or wrote stating that payment would not be made. They could put the date up to 6 months after this, but sometimes when a debt is sold on to a debt collection agenct, the DCA will just use the date that they put the notice on as the default date - this is in breach of the Data Protection Act.


Technical Guidance Note - Filing defaults with credit reference agencies


Time framework


Although there will be some flexibility in the definition of a breakdown, we believe there should be general rules for the minimum period of arrears which should exist before a default can be filed. Equally there should be a maximum period after which, if anything is to be recorded with a credit reference agency, a default must be filed. The following are in line with the practices currently adopted by most lenders.


• Accounts should not be routinely filed as being in default where full payments or those due under a rescheduled agreement are fewer than three consecutive months in arrears.
• Accounts should normally be filed as being in default where those payments due have not been received for six months.


This time framework only relates to filing defaults. It does not affect the lenders’ ability to continue to report accurately on the extent of arrears using monthly status codes. We recognise that may not always be appropriate for products which advance credit over either a very short or very long-term.

[labman]

Re: Guys would greatly appreciate your advice on these Defaults

While what you have found is considered good practice, to the best of my knowledge it is not law. You will find the same in various guidelines, but again guidelines are not legislation.

[SimpleSimon]

Re: Guys would greatly appreciate your advice on these Defaults

Hi Labman, thanks for your reply its so frustrating that they do this as its morally wrong , realize no one gives a damn about that these days as its all about the money, tempted to just pack it in and go to jail for a few years for a holiday on taxpayers expense so from what you say there is no point disputing these dates ? what is the point of the Ombusman pretty disappointed if thats the only option,have a good weekend

[Sapphire]

Re: Guys would greatly appreciate your advice on these Defaults

Dunno where you got the idea that you can go inside for debt Simon, that went out with the Victorians.

[SimpleSimon]

Re: Guys would greatly appreciate your advice on these Defaults

been watching too many nicolas cage movies

[miliitant]

Re: Guys would greatly appreciate your advice on these Defaults

You need to raise a dispute with the information commissionairs office if they have registered a default years after the cause of action has occured

codes of conduct are not statutory as said by labman, but courts do in most cases treat them as statutory if you have followed all correct DISPUTE procedure