Defaults credit reports

[winner12]

Hi
Just trying to understand my credit report and wondered if someone could help
I have 6 defaults
4 I know are right 3 are on DMP interest frozen 1 is for Cap 1 who have never bothered to collect had various DCA chasing but I did not pay anyone (same amount as original default)
then the last one is default marked as satisfied 0 balance think that was no CCA account not persuing
So my question is can I ask that the others be marked as DMP they have been on for 3 years or should I not bother and just wait for the next 3 years until they come off anyway
Oh and I have one for arrow default does not show as MBNA though so not sure about that one have not paid them for about 6 months as the DCA sent a letter saying they were not collecting anymore (wescott)

[winner12]

Re: Defaults credit reports

Just been pondering this one after the brain spinning last few days
I have never been too bothered about my credit report before now its was bad the last time I applied for a mortgage (a few years ago now) due to the fact I had no credit or a current account (ooh where did i go so wrong)my OH got it even though he had a few debts,
This time due to a very dubious mortgage broker I was terrified by this bright coloured computer screen with every inch of my financial life on it warts and all (making me feel very low and ashamed) Having had time to ponder and advice on here I have come to the conclusion that 3 years ago I hit the floor tackled my debt and depression full on went through hell came back from the brink very slowly and carried on , still getting slapped with DCA ,solictors letters oh and to top it all my OH was made redundant,so my conclusion is does it all matter in the big scheme of things that a loud mouth mortgage broker should be able to scare me into thinking I have no choice (so she could make some bonus out of me) actually I have options I can see the end of a very long tunnel
I just need some good advice but a broker is not the route for me and that bright red computer screen that terrified me the other day is set to haunt me for another 3 years but the plus side is I have not had anymore bad marks since the defaults so I let you know if
1.I manage to sell my house
2.I mange to convince my present mortgage company to lend (big plan )wish me luck with that one
3.I get settled having to relocate(3 kids in tow) OH has just secured a good well paid job
4.I get to settle my outstanding debts and can help anyone else through the hell of living with debt and surviving

[ncf355]

Re: Defaults credit reports

Re the original point, the way I see it there is no point in going to the effort of getting the 'DMP' marker added to the Defaults as this would have no effect on your ability to gain credit - Defaults as a rule = "NO" whether they have "Settled", "DMP" or nothing marked alongside them.

I would however make sure that the dates upon which the Defaults start match 6 months after the first time you failed to make the required payments, at an absolute maximum.

ICO guidance being that the Default must be registered within 3 - 6 months of the "breakdown of relationship".

I have taken issues along this line to DCA's, OC's and the ICO and been successful in having all but one of 4 Defaults that incorrect dates removed, with the final one now looking hopeful.

[winner12]

Re: Defaults credit reports

Thanks for that
I will have to look into it

[winner12]

Re: Defaults credit reports

Hi ncf
Looked at my report and have a default showing on Lowells date matches original debt with Barclays they passed it to lowell 3 years ago but not showing up as Barclays sold it
Arrow is showing as a default but not MBNA the original creditor does that mean contrary to what Arrow and Lowell say they have not been sold to them and they are only collecting

[ncf355]

Re: Defaults credit reports

Hi,

sorry, you've left me a little confused

Is it 2 entries


1 Lowell
1 Arrow

But neither show original creditors names?

[FlamingParrot]

Re: Defaults credit reports

Hi ncf
Looked at my report and have a default showing on Lowells date matches original debt with Barclays they passed it to lowell 3 years ago but not showing up as Barclays sold it
Arrow is showing as a default but not MBNA the original creditor does that mean contrary to what Arrow and Lowell say they have not been sold to them and they are only collecting

If the defaults appear under Arrow and Lowell it's because they are the new owners. Both companies are mostly debt purchasers rather than debt collectors, they buy debts rather than just collecting for the banks. You should have received a notice of assignment when those accounts were sold.

[winner12]

Re: Defaults credit reports

Thanks FP
That clears that up I never recieved a notice of assignment from Lowells at the time but got one last year when they were been a pain and I quried things they were saying
Arrow I got when it was defaulted with MBNA
But going back to Lowells I never trusted anything they said after problems with another debt that ended up getting written off
NCF
yes 2 seperate defaults
OH and is it normal for experian to try to flog you all sorts once you register IE a Mortgage which they know i am trying to sort (If I seem a bit green its because this is first time I have ever looked at my report)

[FlamingParrot]

Re: Defaults credit reports

Thanks FP
That clears that up I never recieved a notice of assignment from Lowells at the time but got one last year when they were been a pain and I quried things they were saying
Arrow I got when it was defaulted with MBNA
But going back to Lowells I never trusted anything they said after problems with another debt that ended up getting written off

Let's hope you experience the same problems with this one then! ray: ray:

[winner12]

Re: Defaults credit reports

Hi FP
If I challenge the CCA (which I think I should will the defaults still drop off after 6 years but the SB clock would start ticking from my last communication with them if they dont come up with a valid CCA

[FlamingParrot]

Re: Defaults credit reports

Hi FP
If I challenge the CCA (which I think I should will the defaults still drop off after 6 years but the SB clock would start ticking from my last communication with them if they dont come up with a valid CCA

Sending a CCA request is your lawful right and will have no effect on your credit file, defaults drop off regardless of what you do. The SB clock wouldn't be reset unless you acknowledge the debt in writing, which would be something like making a repayment or full and final offer.

If they don't come up with a compliant document, the account would be unenforceable, meaning they couldn't get a CCJ against you, provided you play it right. I've got 3 such accounts and I'm over half way through to SBd. :clock:

However, if I remember correctly from another thread, you are making payments, in which case the SB clock hasn't even started ticking yet. My suggestion would be to send the CCA requests and keep making your agreed payments till you get a response.

[winner12]

Re: Defaults credit reports

Thanks FP
Another question has the CCA letter changed since I last sent one about 2 years ago and has the law changed too as knowing Lowells they are slippery little suckers and it was a fluke they agreed to right the debt off (had a letter from original creditor stating that they did not have a valid CCA only when I sent them a copy did they back down)

[ncf355]

Re: Defaults credit reports

FP's spot on, once purchased you wouldnt expect to see the OC's name on the report, I was just a little unsure from the way you had it written

[ncf355]

Re: Defaults credit reports

As FP will no doubt show with a template letter, it's a good idea to state something similar like "I do not acknowledge any debt to your company or any 3rd party" at the top of the letter requesting the CCA, this way there can be no question of you admitting the debt

[FlamingParrot]

Re: Defaults credit reports

I must say the CCA templates I used back in 2010 all had that line, however, the ones that we've been using lately don't have it, and I'm not aware of any situation where the creditor has argued that the CCA request has reset the SBd clock. What some have done is use the £1 CCA fee as a payment into the account, which is why the letter has a line stipulating that the funds should not be used for any other purpose. :grin:

Having said that, in Winner's case it wouldn't really matter, because she's been making payments, so the clock hasn't started ticking yet. :clock: