HFC Bank Default on Loan query

[Karnevil]

Hi guys
I have recently set up with CCCS to sort out my debts.
HFC loan of 6k. was paying 148 a month - missed two payments and set up with cccs. This is the first letter from them since starting the cccs plan so I dont know if it relates to that or not.

letter from HFC bank summarised as follows;

intention to file default notice within 60 days from letter
default can be avoided by paying 50% of contractual payment within 1 month, and every month thereafter.
if an existing arrangement exists to pay less than 50% then we will default you unless to raise the amount to at least 50% monthly



My CCCS plan has offered to pay them less than this amount (I'll found out how much) but the plan is only using £178 a month over 7 creditors.

Also I have to check again - but a default was entered on my credit file last month by HFC...

Is there anything I can / should do regarding this notice ?

[Karnevil]

Okay spoke to CCCS - apparently nothing we can do we are paying them £63 a month and thats that. the default will go on the file for 6 years.

Whats another default ... at least if we get everything on the default file now it will all clear off at the same time in 6 years.... (just looking on the upside here )

I was thinking I could pay them an extra £15 a month to stop the default but dont think I could sustain that for 5 years - so its best to get defaulted now rather than later.

any one disagree then please feel free to tell me

[pford]

Originally Posted by karnevil

Hi guys
I have recently set up with CCCS to sort out my debts.
HFC loan of 6k. was paying 148 a month - missed two payments and set up with cccs. This is the first letter from them since starting the cccs plan so I dont know if it relates to that or not.

letter from HFC bank summarised as follows;

intention to file default notice within 60 days from letter
default can be avoided by paying 50% of contractual payment within 1 month, and every month thereafter.
if an existing arrangement exists to pay less than 50% then we will default you unless to raise the amount to at least 50% monthly



My CCCS plan has offered to pay them less than this amount (I'll found out how much) but the plan is only using £178 a month over 7 creditors.

Also I have to check again - but a default was entered on my credit file last month by HFC...

Is there anything I can / should do regarding this notice ?

is the default notice in the correct format? As laid down in the consumer credit act section 88


Whole section on the correct format of a default notice.
http://www.oft.gov.uk/NR/rdonlyres/7...1/0/oft020.pdf