Welcome finance failed legal still reporting to credit ref agency

[moses]

Welcome finance issued proceedings in 2009 that I successfully had set aside. (See attached) they were ordered to provide a copy of original agreement by the courts. They issued a notice of discontinuance shortly after having restarted the case. The loan was for £4.500 over 48 months starting 10.04.2007. They were never able to provide any original documents until months after the court order and when the one page agreement turned up it wasn't my signature and the office signature looks like the same writing! Anyway they have never issued a default and I just get statements of account now headed "FAILED LEGAL" - no demands for payment so all good BUT they continue to report to the credit agencies that my account is open and I'm like 5 years behind payments? Can I get this off please Help

[FORCEOFONE]

Re: Welcome finance failed legal still reporting to credit ref agency

As they have discontinued the claim after you put in a defence, it will be extremly difficult for welcome to instigate a new claim without the permission of the court. That is why it states failed legal.

They can ask for payment, little else expect still continue to update the credit agencies. Either the Carey or McGuffic case made that case law

To have originally taken you to court, the account must have been defaulted and terminated

What is the date on your credit file when the account was defaulted, it will be six years from then, or last payment received when welcome will drop of your credit file for good

[toostressed]

Re: Welcome finance failed legal still reporting to credit ref agency

When the six year period came for me, Welcome just started again, I complained to ombudsman and when they then reported as settled and satisfactory. Which means that another 6 years on my record, its now five years and they again sold the debt on and the new dca says that they will start recording again in 30 days from 3rd May. So make sure you get it sorted before you have another 6 years on your credit report to contend with. I'm really fed up and anry with Welcome Finance

[moses]

Re: Welcome finance failed legal still reporting to credit ref agency

Thanks for the reply Welcome have never defaulted the account on my file its still a running account ?? no interest is being added but on my file its says Im constantly behind with the payments. I stopped paying in Oct 07 when they were unable to provide any original docs. I remember everything was done via fax machine so they never had the original anyway. I don't mind making an offer to settle what do you suggest? To date I have not acknowledged the debt. The Court ordered them to provide me with the original documents within a time limit which did not happen so the case was struck out. a copy doc appeared some months later with a letter from their solicitors saying that they had closed there case and sent everything back to welcome in light of the Court Order. what to do my file is completely clear now save as for this debt. Any thoughts x

[moses]

Re: Welcome finance failed legal still reporting to credit ref agency

They cant sell the debt because they defaulted the court Order and they haven't defaulted the account its still running - it makes no sense we are just in a tangled mess now if I make an offer to settle I will be admitting the debt arrrrrgh !!! help lol

[FORCEOFONE]

Re: Welcome finance failed legal still reporting to credit ref agency

What males you think they have not defaulted and terminated the account prior to the issue of the first court claim.

How much were welcome asking for in the original claim,

The arrears on the account, or the total amount outstanding, that is arrears plus interest, or total amount as to the agreement/sums not yet due

[PlanB]

Re: Welcome finance failed legal still reporting to credit ref agency

What is the date on your credit file when the account was defaulted, it will be six years from then, or last payment received when welcome will drop of your credit file for good

^^^^ That's not correct information :nono:

The entry on the credit file (all account details) drops off six years after the date the default was registered no matter what happens after that. Some people go on paying a creditor in a DMP for decades but the file entry is removed from the CRAs.

The last payment received is irrelevant except when it comes to statute barred issues. Six years in England and Wales but only five years in Scotland.

[FORCEOFONE]

Re: Welcome finance failed legal still reporting to credit ref agency

I should have made myself a bit more clear in my post

I was inferring that the default will drop off after six years from when it was issued, paid or not


I made the mistake then of linking it with "statute barred" and the right of the creditor to enforce past the limitations date

Me thinks i will have to type a bit slower and more clear in the future

[FlamingParrot]

Re: Welcome finance failed legal still reporting to credit ref agency

Welcome finance issued proceedings in 2009 that I successfully had set aside. (See attached) they were ordered to provide a copy of original agreement by the courts. They issued a notice of discontinuance shortly after having restarted the case. The loan was for £4.500 over 48 months starting 10.04.2007. They were never able to provide any original documents until months after the court order and when the one page agreement turned up it wasn't my signature and the office signature looks like the same writing! Anyway they have never issued a default and I just get statements of account now headed "FAILED LEGAL" - no demands for payment so all good BUT they continue to report to the credit agencies that my account is open and I'm like 5 years behind payments? Can I get this off please Help

Had a sense of déjà vu when I saw this post! This is a duplicate thread, I replied to this post earlier: http://www.legalbeagles.info/forums/...811#post341811

[FlamingParrot]

Re: Welcome finance failed legal still reporting to credit ref agency

Thanks for the reply Welcome have never defaulted the account on my file its still a running account ?? no interest is being added but on my file its says Im constantly behind with the payments. I stopped paying in Oct 07 when they were unable to provide any original docs. I remember everything was done via fax machine so they never had the original anyway. I don't mind making an offer to settle what do you suggest? To date I have not acknowledged the debt. The Court ordered them to provide me with the original documents within a time limit which did not happen so the case was struck out. a copy doc appeared some months later with a letter from their solicitors saying that they had closed there case and sent everything back to welcome in light of the Court Order. what to do my file is completely clear now save as for this debt. Any thoughts x

Any offer of settlement will constitute acknowledgment of the debt and restart the clock, and it will only result in it being marked 'settled' rather than removing the default completely, so it makes little difference. Bear in mind what you see when you look at your file is not the same as lenders can see, that depends on the lender and how they retrieve the CRA data and how far back they go.

Was a default not recorded in 2007? Do you have any documents from that time showing you had stopped paying? Notices of sums in arrears, etc. if not a proper default notice. The OFT guidance states a default should be recorded between 3 and 6 months after the fist missed payment.

They cant sell the debt because they defaulted the court Order and they haven't defaulted the account its still running - it makes no sense we are just in a tangled mess now if I make an offer to settle I will be admitting the debt arrrrrgh !!! help lol

Debts can be sold regardless of status, regardless of whether it's live, defaulted or even statute barred, they can still be sold. However, that shouldn't make any difference with regards to default dates, they should always drop off 6 years after being recorded, regardless of assignment.

[moses]

Re: Welcome finance failed legal still reporting to credit ref agency

they have never defaulted the account - no payments made since 2007 thats the problem can this just stay on my account indefinately??

[moses]

Re: Welcome finance failed legal still reporting to credit ref agency

Yes but no default has ever happend thats the problem

[moses]

Re: Welcome finance failed legal still reporting to credit ref agency

They havent defaulted i havent paid anything since 2007

[FORCEOFONE]

Re: Welcome finance failed legal still reporting to credit ref agency

If they have not defaulted the account then that is contrary to OFT guidance on debt collecting

You need to be addressing this now to the information commissionaires office

[moses]

Re: Welcome finance failed legal still reporting to credit ref agency

Thank you it was always my belief that what they were doing was unlawful. I did report them to Experian who investigated and told me that Welcome had confirmed the information was correct and reporting endless monthly arrears was correct so ii could not stop them. Any ideas on how I should word this letter to ICO,Thank you