arrow global & a CRA default.

[artourious]

Hi, bit stuck on this one.
Top 3 CRA have just recorded a default on my account.

Arrow global bought an old credit card debt in dec 2014. They did nothing for one year then in dec 2015 they closed the account, and say it defaulted, although they only applied the default in may of this year. we have had no written communication with arrow global. We have asked for info of the debt through Equifax when i challenged the default, but arrow global have not supplied any. They say my last payment was november 2010, although my bank can find no trace. If it is more than 6 years the old credit card will be statute barred, but if a payment was made november 2010 i will not be able to contact them until december of this year. I understand the old credit card debt should have gone into default once payments stopped, so are Arrow global able to add new defaults. ??

[artourious]

Re: arrow global & a CRA default.

Any advice on dealing with Arrow global would be appreciated. I have heard they are difficult to deal with.

[Amethyst]

Re: arrow global & a CRA default.

No Arrow should not add a new default - the debt will have defaulted before being sold to Arrow and therefore should have defaulted over 6 years ago and wouldn't show on your credit file at all now. Arrow could take over the reporting of the debt but they can't just add a new default date because they can't find the original ( as it'd fallen off ).

Just tagging [MENTION=1508]Nibbler[/MENTION] to hopefully have a look for you ( he's much better at CRA stuff )

If You have told arrow it is stat barred and they claim there was a payment in nov 2010 - then ask them to tell you method and amount of payment so you can check your records. The onus of proof is on them to show it isn't statute barred and just randomly saying you made a payment without disclosing any more info isn't enough.

[artourious]

Re: arrow global & a CRA default.

Thanks Amethyst your a star.

I bought a £2 call credit report last nite, and have a 30 day free Equifax report. Both show the closed account both CRA show it as closed in dec 2015. But they do not show any details before that date. So am i right to assume the old credit card has gone under the 6 yera rule, or are Arrow global just being carefull in what in they disclose. I am not able to contact Arrow global am i ?? for safty would it not be better to wait until december ??

[Amethyst]

Re: arrow global & a CRA default.

You might find it useful to sign up with Noddle ( free credit report site)

See if Nibbler or others have any input in the morning on what best to do about the wonky default marker.

[artourious]

Re: arrow global & a CRA default.

I have noddle and clear score, that's how i noticed the massive drop in my credit score on the 9th of June. I retired 3 years ago, got my self all sorted, debts cleaned up, and was building my credit score...i aquired 1 new credit card in dec last year and 2 credit cards before may this year (to improve my score). They have very little on them. I joined your site today, and have noticed several reports about Arrow Global confirming other reports i have seen on them on google. So i could be in for a battle with them. What i can say is that the Arrow info is very mixed up, and they have contradicted them self's on several occasions. They keep refering to an address i had 3 years ago, i have no access to that address so if they have been writing to me there i will not receive the mail. They are fully aware of my new address through contact with callcredit and Equifax, but have not written to me at that address.

[Amethyst]

Re: arrow global & a CRA default.

On Noddle what does it say the drop off date is for that default applied by Arrow?

[artourious]

Re: arrow global & a CRA default.

Noddle drop off point not sure with where that info would be.??

below is the info as listed on noddle.

Account type Credit Card
Account number
**** 0

Account start date
10/06/2004

Opening balance
£ 2,261

Repayment frequency
Monthly

Date of default
04/12/2015

Default balance
£ 2,261

Call credit/noddle show the account listed as open. Equifax/clearscore show the account as closed. Both CRA show the account as defaulting Dec 2015. Both show default as May 2016.

[Amethyst]

Re: arrow global & a CRA default.

What do the markers before Dec 15 say ? usually it would go something like 1,2,3,4,5,6,7,8,8,8,8,8,8,8,8,D (so december 2015),D,D,D,D,D (May 2016) ( then the D would carry on for 6 years)

[artourious]

Re: arrow global & a CRA default.

hi, nothing, there is nothing before 2016 on noddle, info supplied by call credit. If you were reading my credit report as a lender, all you would see is 5 credit cards up todate and 1 in default, arrow global. the history on that account starts may 2016 with an opening balance. shown below.
Status history

2016

D DF

Balance history

2016					2,261

[Amethyst]

Re: arrow global & a CRA default.

Okay, so they've def added a new default then.

[MENTION=1508]Nibbler[/MENTION]

[artourious]

Re: arrow global & a CRA default.

now onto clear score info from Equifax. The account is shown as closed, but their is a history line. from dec 2011 to nov 2015. marked with a green dot for payment recieved (no payments have been sent). And although the info on clearsore is supplied by Equifax, Equifax dispute the timeline as marked on the clearscore account.

[nemesis45]

Re: arrow global & a CRA default.

hi, nothing, there is nothing before 2016 on noddle, info supplied by call credit. If you were reading my credit report as a lender, all you would see is 5 credit cards up todate and 1 in default, arrow global. the history on that account starts may 2016 with an opening balance. shown below.
Status history

2016

D DF

Balance history

2016					2,261

Hi Who was the card with?

This situation has occurred in the past with AG acquiring a batch of delinquent card accounts which were either sold without a default being placed or defaulted days before the debt were sold.

These have been challenged on the ICO's guidance that defaults should be placed within 6 months of the cause of action.

nem

[artourious]

Re: arrow global & a CRA default.

Hi Nem, thanks for info. At the moment the credit card is not known. When i disputed the default with Equifax, the reply back from Arrow global was;
"default stands, we will not remove it, we purchased this debt in dec 2014, last payment to credit card nov 2014, i would need to contact the credit card issuer for more information".
This appears to be standard practice on reading through other cases on your web site.
The reason i pursued this with Equifax was that i was paying £3 a month for a monitoring service, and Equifax reported no changes to my account during 2014 and 2015. Equifax then said they had nothing to report to me on my CRA report as Arrow global reported nothing to them until may of 2016, they then supplied selected info. No info back over the past 6 years, which i understand they must have, as they report a last payment of £1 nov 2010.
So info i know so far through Equifax, debt purchased dec 2014, account defaulted dec 2015, default added to CRA reports may 2016.

- - - Updated - - -

CORRECTION;
"default stands, we will not remove it, we purchased this debt in dec 2014, last payment to credit card nov 2014*, i would need to contact the credit card issuer for more information".

*should read Last payment should read nov 2010 not 2014

[artourious]

Re: arrow global & a CRA default.

I spoke to the FCA yesterday;
1. Original debt - yes it should go to default when payments are missed, but lenders do not have to allocate a default ??
seems odd but this is what FCA say.

2. DCA buying a debt - FCA not sure if the DCA buying the debt can put a default on again..odd ?? but he did say they do not have to register a default until they want..again seems odd.

3. Defaults - FCA not sure if more than one default can be added to an account...again seems odd....

This was all from the FCA handbook, acording to the person i was speaking to.

I may have been speaking to the cleaner...