Default notice question

[monica32]

Hello all,

Any advise would be much appreaciated.
In 2013 I have received Default Notice for personal loan despite making reduced payments towards my debt. However default has never been registred on my CRA file. About year later account has been sold to DCA. I was still making payments to DCA until this summer. Now I have received a Notice of Default from DCA. Can they do that? If original creditor issued DN does this mean DCA are not entitled to any remedies prescribed by Section 87 of the Consumer Credit Act 1974 which includes being entitled to the full balance of the account?

Thank you

[Kati]

Re: Default notice question

[MENTION=6]Amethyst[/MENTION] [MENTION=1508]Nibbler[/MENTION] [MENTION=48934]Debt Camel[/MENTION]???

[nemesis45]

Re: Default notice question

Hello all,

Any advise would be much appreaciated.
In 2013 I have received Default Notice for personal loan despite making reduced payments towards my debt. However default has never been registred on my CRA file. About year later account has been sold to DCA. I was still making payments to DCA until this summer. Now I have received a Notice of Default from DCA. Can they do that? If original creditor issued DN does this mean DCA are not entitled to any remedies prescribed by Section 87 of the Consumer Credit Act 1974 which includes being entitled to the full balance of the account?

Thank you

The DCA/Debt purchaser just updates the credit file entries placed by the original creditor.
Which credit ref agency have you checked some creditors do not report to all 3 main agencies.
Default notice are Not an actual default, just as it says is a notice that a default will be placed
if the conditions of the DN are not complied with.

It would help if we had sight of the " default notice" and some history of the debt please.

If you can post a copy of the DN here after removing your name and address and any account numbers here please.

I am sure [MENTION=49370]Kati[/MENTION] will assist if needed!

nem

[Nibbler]

Re: Default notice question

There are two types of 'default notice', or things people commonly call a 'default notice'

(a) - A formal default notice issued under s87 of the Consumer Credit Act - which is a letter sent to you, giving you 14 days to bring the account back up to date.

or

(b) - A notice of intention to record a default on your credit file - likely giving you 28 days to bring the account up to date to avoid this.

Those 2 can be close in date in many cases, and sometimes in the same correspondence, but they are technically and legally different things, and they can sent be a way apart depending on circumstances.

So on both instances we need to know which you were sent, and what you did in response to them.

[charitynjw]

Re: Default notice question

To clarify

You defaulted on payments 2013

You were given a DN.

Then you 'regularised' the account as acceptable to the lender.

You then defaulted again on payments in 2015.

You have been given another DN.

By whom (the lender/owner of the debt, or is it some other DCA?).

& is that 'person' & the debt owner if different, registered with the FCA?

[monica32]

Re: Default notice question

Hello all,

Thank you for all responses. I have definately received Default Notice from original creditor in 2013. I have an original which I will post up later.
In the last couple of weeks I have received another DN this time from DCA who purchased my debt in 2014.

[monica32]

Re: Default notice question

The DCA/Debt purchaser just updates the credit file entries placed by the original creditor.
Which credit ref agency have you checked some creditors do not report to all 3 main agencies.
Default notice are Not an actual default, just as it says is a notice that a default will be placed
if the conditions of the DN are not complied with.

It would help if we had sight of the " default notice" and some history of the debt please.

If you can post a copy of the DN here after removing your name and address and any account numbers here please.

I am sure @Kati will assist if needed!

nem

Hello,

In attachment DN received. One from original creditor in 2013, and recent one from DCA. Also Looking through documents provided by OC-Black Horse I can see that there is discrepancy in total amount outstanding.
Any help woyld be much appreciated.

Thank you in advance

[nemesis45]

Re: Default notice question

Hello,

In attachment DN received. One from original creditor in 2013, and recent one from DCA. Also Looking through documents provided by OC-Black Horse I can see that there is discrepancy in total amount outstanding.
Any help woyld be much appreciated.

Thank you in advance

Hi A DN from Hillesden Securities Ltd T/A DLC?
Who was the original lender.

When did normal Contractually required payments cease?
Did you receive a Demand For Repayment In Full or a Final Demand from
the original lender?

My feeling is at the moment that this new DN and the resulting registration is unreasonably
late and can be challenged as such.

nem

[monica32]

Re: Default notice question

Hi A DN from Hillesden Securities Ltd T/A DLC?
Who was the original lender.

When did normal Contractually required payments cease?
Did you receive a Demand For Repayment In Full or a Final Demand from
the original lender?

My feeling is at the moment that this new DN and the resulting registration is unreasonably
late and can be challenged as such.

nem

Hello,

Thank you for reply.
Original creditor-Black Horse.
It was a personal loan taken for 60 months in 2011.
refuced payments started in 2013.
I dont think I received Demand for repayment in full or final demand.
Shall I complain to Hilsden about DN they issued? They have not registred it with CRA yet.

Thank you

[nemesis45]

Re: Default notice question

Hello,

Thank you for reply.
Original creditor-Black Horse.
It was a personal loan taken for 60 months in 2011.
refuced payments started in 2013.
I dont think I received Demand for repayment in full or final demand.
Shall I complain to Hilsden about DN they issued? They have not registred it with CRA yet.

Thank you

Ok another Black Horse failure to default, when did Hillesden acquire the debt.

It's BH that wants a rocket fired up where the sun don't shine the account should have been
properly defaulted when the reduced payments started.

nem

[monica32]

Re: Default notice question

Ok another Black Horse failure to default, when did Hillesden acquire the debt.

It's BH that wants a rocket fired up where the sun don't shine the account should have been
properly defaulted when the reduced payments started.

nem

Nem,

Hilsden bought it in July 2014.
What would you suggest I should do?

Thank you

[nemesis45]

Re: Default notice question

Nem,

Hilsden bought it in July 2014.
What would you suggest I should do?

Thank you

Good morning,

Although this is a fairly recent BH account ( compared to the ones we have seen so far) I think BH has treated you
unfairly by selling the debt without being defaulted.

Hilleseden acquired the debt July 2014 when a reduced payment plan was in place I believe that' s the latest time
a default should have been placed.

nem

A formal complaint is the way forward I think.

[monica32]

Re: Default notice question

Good morning,

Although this is a fairly recent BH account ( compared to the ones we have seen so far) I think BH has treated you
unfairly by selling the debt without being defaulted.

Hilleseden acquired the debt July 2014 when a reduced payment plan was in place I believe that' s the latest time
a default should have been placed.

nem

A formal complaint is the way forward I think.

Nem,

Formal complaint to Black Horse or Hilsden? Or both?
Would you be able to draft a letter for me please? I don't even know how to start.

Kindest regards,

Monica

[nemesis45]

Re: Default notice question

Nem,

Formal complaint to Black Horse or Hilsden? Or both?
Would you be able to draft a letter for me please? I don't even know how to start.

Kindest regards,

Monica

BH Initially I think as it was responsible for not defaulting the account.

I can certainly draft a letter for you in the morning is that ok Monica?

nem

[monica32]

Re: Default notice question

BH Initially I think as it was responsible for not defaulting the account.

I can certainly draft a letter for you in the morning is that ok Monica?

nem

Nem,

I would be ever so grateful if you could draft a letter for me plasee.

Kindest regards,

Monica