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Hello, thanks for letting me join, hopefully you can help. Apologies for the lengthy post!
I had a loan with payday express from 2016. This defaulted on 3/10/16. I was in a bad place at the time and completely forgot about it. I found out it existed when I did an affordability claim for payday loans. This was upheld and I was offered redress of 1609.42 and all entries removed from my credit file of which I would actually receive 69 pounds as it worked out a few pence to each pound. I was more bothered about my credit re order improving than the cash.
When checking my credit file last year I see the debt was sold to PRAC Financial and marked as 'in arrears' with a missed payment markers recorded each month. At the time I didn't know what the debt was and they had no CCA to show but eventually I find out its the original payday loan from 2016 thats been upheld as unaffordable so I didn't do anything assuming it would be dealt with as part of the scheme and redress.
Turns out PRAC Financial are the only company to refuse to accept the redress and have stated the debt is still owed.
I've no issues paying the debt but I want PRAC Financial to use the original default date of 3/10/2016. I've been in a 6 month back and forth with them refusing.
they've emailed me to confirm the default date with the original lender but won't add this on their record. I'm now left with years of missed payment markers on my file for a debt upheld as misold and no idea how to move forward.
should I just pay the debt and wait 6 years again or keep fighting to have the default added.
I had a loan with payday express from 2016. This defaulted on 3/10/16. I was in a bad place at the time and completely forgot about it. I found out it existed when I did an affordability claim for payday loans. This was upheld and I was offered redress of 1609.42 and all entries removed from my credit file of which I would actually receive 69 pounds as it worked out a few pence to each pound. I was more bothered about my credit re order improving than the cash.
When checking my credit file last year I see the debt was sold to PRAC Financial and marked as 'in arrears' with a missed payment markers recorded each month. At the time I didn't know what the debt was and they had no CCA to show but eventually I find out its the original payday loan from 2016 thats been upheld as unaffordable so I didn't do anything assuming it would be dealt with as part of the scheme and redress.
Turns out PRAC Financial are the only company to refuse to accept the redress and have stated the debt is still owed.
I've no issues paying the debt but I want PRAC Financial to use the original default date of 3/10/2016. I've been in a 6 month back and forth with them refusing.
they've emailed me to confirm the default date with the original lender but won't add this on their record. I'm now left with years of missed payment markers on my file for a debt upheld as misold and no idea how to move forward.
should I just pay the debt and wait 6 years again or keep fighting to have the default added.
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