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I have an old payday loan from 2017 from MyJar who have now went into administration. The original sum was for £125 and with interest sits at £265.
The loan defaulted in 2017, but I was digging around online around 6 months ago and noticed a post on TrustPilot from MyJar stating they had asked all CRAs to remove all MyJar records, but only Transunion hadn't actioned this. I followed up with TransUnion and had the record removed from my credit file. Oddly, a loan from MyJar that I paid on time in full was not erased, and can be seen only on TransUnion.
Today I recieved two emails. One from MyJar stating they had sold the loan to ACI, with the following statement :
The Credit Reference Agency (“CRA”) records are being updated for this transfer of ownership.
Then in email from ACI with account details and the following statement:
Credit reference agency (CRA) reporting
Following the sale of your account(s) to Perch Capital, MYJAR Ltd will shortly update the record at the CRA's to reflect your account(s) has been sold.
Once this has been done, Perch Capital may start to report account conduct information to the CRA's. This may include information on any payments made or missed, payment arrangements, settlements, and defaults. If an account is defaulted it can adversely affect your ability to obtain credit for 6 years from the date of default.
The CRA's will also share information about you with us and they may share your personal information with other organisations.
I had a previous payday loan go to ACI in 2020, when they sent an email saying that they would report the loan to CRAs within 30-60 days but if I cleared the balance before that time they would not report it and were open to offers. I wasn't dealing with my old debts at this time and didn't engage - the debt was reported and I've now settled it.
I really don't want this default to end up being reported if I can avoid it obviously. I'm guessing that even though the original default was cleared off my credit file, ACI can report it at any time?
I'm thinking of offering £100 to settle the debt with the stipulation it's not reported to any CRA. As ACI have not (yet?) Offered this time with this loan, I'm unsure how to word this offer in writing - can anyone point me in the direction of a template or advise if this is my best course of action?
Thanks all
The loan defaulted in 2017, but I was digging around online around 6 months ago and noticed a post on TrustPilot from MyJar stating they had asked all CRAs to remove all MyJar records, but only Transunion hadn't actioned this. I followed up with TransUnion and had the record removed from my credit file. Oddly, a loan from MyJar that I paid on time in full was not erased, and can be seen only on TransUnion.
Today I recieved two emails. One from MyJar stating they had sold the loan to ACI, with the following statement :
The Credit Reference Agency (“CRA”) records are being updated for this transfer of ownership.
Then in email from ACI with account details and the following statement:
Credit reference agency (CRA) reporting
Following the sale of your account(s) to Perch Capital, MYJAR Ltd will shortly update the record at the CRA's to reflect your account(s) has been sold.
Once this has been done, Perch Capital may start to report account conduct information to the CRA's. This may include information on any payments made or missed, payment arrangements, settlements, and defaults. If an account is defaulted it can adversely affect your ability to obtain credit for 6 years from the date of default.
The CRA's will also share information about you with us and they may share your personal information with other organisations.
I had a previous payday loan go to ACI in 2020, when they sent an email saying that they would report the loan to CRAs within 30-60 days but if I cleared the balance before that time they would not report it and were open to offers. I wasn't dealing with my old debts at this time and didn't engage - the debt was reported and I've now settled it.
I really don't want this default to end up being reported if I can avoid it obviously. I'm guessing that even though the original default was cleared off my credit file, ACI can report it at any time?
I'm thinking of offering £100 to settle the debt with the stipulation it's not reported to any CRA. As ACI have not (yet?) Offered this time with this loan, I'm unsure how to word this offer in writing - can anyone point me in the direction of a template or advise if this is my best course of action?
Thanks all
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