Incorrect default replace with Late payment markers???

[leelnj]

I had a current account with Nationwide which I ran up an unauthorised overdraft due to a £15 direct debit being returned (which in turn led to £250 worth of fees) and me moving house.
Nationwide issued a default notice in 2008 which they issued incorrectly.I entered a debt management programme in 2008 and they negotiated a payment plan with nationwide which was settled in 2010. My credit file in 2012 showed a default marker in 2008 and i settled the account in 2010 (no markers in between this date).subsequently I challenged nationwide on their incorrect issuing of the default and they agreed it was wrong and agreed to remove it and compensate me. They have removed it but now issued 4 months late payment red flags every month from Aug 2008(previous default date) to settled date (sept 2008).
even though it was being paid at reduced rate. This will now stay on my file for 6 years (2016) whereas the default would of dropped of in (2014) therefore leaving me in a worse position.

Credit file with incorrect default

J F M A M J J A S O N D

2010...................... S
2009................................
2008 2 3 4 D
2007 ..............................1

Credit file after default notice taken of

J F M A M J J A S O N D

2010 4 4 4 4 4 4 4 4 4 S
2009 4 4 4 4 4 4 4 4 4 4 4 4 4
2008 2 3 4 4 4 4 4 4 4 4 4 4 4
2007 ...............................1

Can i argue that.
1.) Due to the default being removed in 2008 (due to your incompetence) and latepayment markers being put in place till 2010 this puts me at a disadvantage as the removal of the default in 2014 would have removed this entry on my credit files.
2.) Due to the Default Notice not being accurate this not only invalidates the default notice ( Woodchester Lease Management Services Ltd v Swain & Co NLD 14 July 1998 ) but is an unlawful rescission of contract which would not only prevent the Court enforcing any alleged debt, but give the Defendant a counter claim for damages. ( Kpohraror v Woolwich Building Society [1996] 4 All ER 119 ). Therefore recording data in my credit file after the date of issuing a defective default notice (which terminated the contract) is incorrect.
3.) They have recorded 4 months late charges red markers on my file every month from the recinded default date (April 2008) till the settled date 2010 even though i had an arrangement with them.

Thanks in advance

[Guest]

Re: Incorrect default replace with Late payment markers???

HI
Late payment markers do not have the same effect on your credit score as a default marker, I think you may have to put up with the markers.

If this was a current account it would have been unregulated, the DN would not have to be CCA compliant.

I suppose that they would say that the total amount was payable on the termination, therefore all payments made after that were late.

D

[leelnj]

Re: Incorrect default replace with Late payment markers???

It may not have the same affect but they stay on my file an extra 2 years meaning i have 2 extra years of bad credit on my file due to them issuing a default which has caused me 4 years of hardship so far. Surely if you are removing a default due to your negligence you shouldnt be able to put me in a worse position. I can understand removing the default marker and putting one 4 month old red payment flag in its place so the account drops of 6 years from 2008.

[Guest]

Re: Incorrect default replace with Late payment markers???

It may not have the same affect but they stay on my file an extra 2 years meaning i have 2 extra years of bad credit on my file due to them issuing a default which has caused me 4 years of hardship so far. Surely if you are removing a default due to your negligence you shouldnt be able to put me in a worse position. I can understand removing the default marker and putting one 4 month old red payment flag in its place so the account drops of 6 years from 2008.

yes it is a problem with DMP's in general, some say that it is better to let the creditor issue a default, but it is just the way the system works i am afraid.

D