MORE THAN issue default letter to me!!

itsamomentintime · 12th January 2007, 15:32

due to bank charges, i have cancelled a direct debit to MORE THAN from abbey, and have set up a new one via hsbc.

but...MORE THAN sent me a default notice letter served under the CCA 1974, section 87 (1), stating i have breached the terms of the loan agreement between me and them (the direct debit was not paid for december)

what are they on about? what 'loan agreement'? are they being deliberately misleading, by using the term 'default notice'? it could be taken as meaning that they are going to endorse my credit file, no?

craigwalton · 12th January 2007, 17:37

As you are paying monthly, you have taken a credit agreement with the Insurance Company. You have been defaulted as you are behind with the payments. Ring them to ensure your vehicle is still on risk (if ti is motor) or the house is still covered, etc, and tell them when you can pay by.

cheers

itsamomentintime · 13th January 2007, 17:54

what about the default? they didnt give me a chance to pay, dont they have to give 30 days notice before adding a default to my credit record?

craigwalton · 15th January 2007, 09:56

I would tring them to make sure - it does seem unusual that they will add a default to your record. Check that the letter doesn't say "we may default you" or something similar.

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