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Defaulted after ONE missed payment

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  • #1

    Defaulted after ONE missed payment

    I called GE Money, Asda Loans, in June and told them up front I would be missing the next three payments. (Late June, Late July and Late August). Each payment is £254.15. They have been chasing me for late Jun's payment by telephoning several times a day, and sending the odd letter - I replied saying I was confused that they were chasing as we had agreed that I would not pay until September and that they were wasting their time chasing until then, and I reassured them I would make efforts to catch up.

    They have now sent me a formal Default Notice under s87(1) of the CCA; with nothing more than the standard legally required content, dated 24th July wanting payment within 14 days of that date of the one outstanding payment, otherwise they will demand the full balance. (Haha! As if, being unable to pay £254, I could ever hope to pay £14,000!!!)

    Paying them would make life EXTREMELY difficult; but I could do it. Just. Are there any other options?

    Tom
    I will not provide support by Private Message under any circumstances. This is for your protection and mine. Any advice I give is my own opinion and carries no legal weight. Check it before you use it!
     Over £1200 claimed in several actions against several organisations.
  • #2
    Re: Defaulted after ONE missed payment

    Ummm did you put this missing three payments stuff in writing ?
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    Received a Court Claim? Read >>>>> First Steps

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    • #3
      Re: Defaulted after ONE missed payment

      Yep...

      Tom
      I will not provide support by Private Message under any circumstances. This is for your protection and mine. Any advice I give is my own opinion and carries no legal weight. Check it before you use it!
       Over £1200 claimed in several actions against several organisations.

      Comment

      • #4
        Re: Defaulted after ONE missed payment

        good.

        well I assume they have defaulted in order they can court action quicker if needed. sods.

        anyone bit of a cakky link but yep they can do it...Consumer Law - Google Book Search


        When you wrote did they write back agreeing ?
        #staysafestayhome

        Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

        Received a Court Claim? Read >>>>> First Steps

        Comment

        • #5
          Re: Defaulted after ONE missed payment

          Nope... they ignored the letter; however on the phone they said they would waive late payment fees for the period I negotiated with them but that "collection activity would continue".

          I just can't see how they think this will help them get their money...

          Tom
          I will not provide support by Private Message under any circumstances. This is for your protection and mine. Any advice I give is my own opinion and carries no legal weight. Check it before you use it!
           Over £1200 claimed in several actions against several organisations.

          Comment

          • #6
            Re: Defaulted after ONE missed payment

            I'm confused. Was it a payment holiday or did you just say you couldn't pay until September?

            Comment

            • #7
              Re: Defaulted after ONE missed payment

              I just told them I couldn't pay until September; and I was right - there simply was no way for me to do it. There might be a light now though

              Tom
              I will not provide support by Private Message under any circumstances. This is for your protection and mine. Any advice I give is my own opinion and carries no legal weight. Check it before you use it!
               Over £1200 claimed in several actions against several organisations.

              Comment

              • #8
                Re: Defaulted after ONE missed payment

                Hello all.

                If they've defaulted you, it's not always a bad thing. It will have a negative impact on your credit rating, but normally by defualting you, a creditor's intention would be to pass the debt on to a Debt Collection Agency.

                Normally at this stage no further interest will be added. Will you be in a position to make repayments nearer to what you were paying before come September?

                Regards,
                CCCS

                Comment

                • #9
                  Re: Defaulted after ONE missed payment

                  Yes I will - and I do want it paid off as quickly as possible - and I don't want to be paying ridiculously overstated DCA fees either. I gather if it goes to a DCA then I continue making the same payments as before, if I keep a record of my payments the balance may actually disappear more quickly???? Not forgetting of course that the loan company will make sure I owe all the balance AND the interest in the debt they pass to the DCA...

                  Tom
                  I will not provide support by Private Message under any circumstances. This is for your protection and mine. Any advice I give is my own opinion and carries no legal weight. Check it before you use it!
                   Over £1200 claimed in several actions against several organisations.

                  Comment

                  • #10
                    Re: Defaulted after ONE missed payment

                    Well I've had to pay it, as I was running out of time. Now I'm going to really struggle this month but hey what can you do.

                    I'm really really struggling to not be angry here - I've put so much into these consumer action sites in the past.

                    Tom
                    I will not provide support by Private Message under any circumstances. This is for your protection and mine. Any advice I give is my own opinion and carries no legal weight. Check it before you use it!
                     Over £1200 claimed in several actions against several organisations.

                    Comment

                    • #11
                      Re: Defaulted after ONE missed payment

                      What is it you are struggling not to be angry about?

                      Comment

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