Hi, I thought they ha to give you 14 days to rectify it, before they took any action? Is this not the case? Regards,

Hi, They do not currently have an entry on my credit file, and yes I mean April. I want to avoid the default on my credit file, as in 4 months, all the other adverse info from the past will be gone. I'm not that fussed if its reported to CRA's, as long as i know that I can get it removed due to the invalid default notice. I was wanted somebody to claify that I would be able to have it removed from CRA's if it was entered based on invalid default notice? Thanks

Hi, Thanks for the response. If they do report the default to the CRA's, given that the default notice they sent was invalid, would it be straight forward to get them to remove it? Cheers

Hi, I received a default notice recently form a well known payday loan company. It was dated the 10th, sent via business post, and received on the 15th. It states payment must be made within 14 days of the date of the letter. Is it correct that due this it is invalid? Because they don't give a full 14 days to rectify? I will be paying the balance in the next few weeks but want to avoid them registering the default with CRA's. If they do register it, is it easily removed due to the notice being invalid? Would appreciate some advice on what to do. thanks

Hi, I've received a default notice from a well known payday loan company. I intend to pay what is owed within the next month (there is no dispute about the amount owed), and they were aware of this. The notice is dated 10th of the month, and it states that I have 14 days from the date of the letter. But that does not allow for postage, so doesn't give the 14 days required. I think I actually received it on the 15st (sent business post, envelope kept). I will be paying what is outstanding within the next month. I want to ensure that a default isn't recored with CRA's. Is it best to inform them that the default notice they sent is invalid so they can rectify there mistake and to ensure it isn't registered with CRA's and then I have to fight to get it removed? If I do nothing and its registered with CRA's, is it straightforward to get them to remove it, based on the fact the default notice they sent was invalid? Any advice on how best to proceed would be much appreciated. Thanks.

Any more advice? Said company are saying that they cant not report to CRA's. Any suggestions on how to change their minds?

Hi, Thanks for the fast response. Given what you have said, do you think I may as well let them default? As an arrangement to pay is just as bad?

Hi, How detrimental is an "arrangement to pay" on your credit file? Is it as bad as a default or ccj? I'm negotiating with 2 payday lenders regarding repayment of outstanding loans. I'm looking at borrowing a lump sum from a family member in order to pay them off in one go, and avoid any adverse info on my credit files. I'm agreeing to pay all their crazy fee's and charges on the condition they don't report any adverse info to CRA's. But one is insisting that they will show an arrangement to pay on my file. I want to avoid this at all costs, but if its as bad as having a default or CCJ, I'm tempted to let them default me and try it on in court. Any advice?

Hi, Thanks for advice. I think I have the agreements as most were emailed to me when the loans were taken out, so ill get them posted up here. Although I'm happy to pay the original amount borrowed and one months interest, after all I did agree to borrow on those terms. I'm just not prepared to pay there crazy fees. It's not just the fees tho, I contacted all the lenders before the loans were due for repayment (circumstances changed, and they all have proof of this) One company ignored/refused my offer of payment, then after about 2 weeks decided to accept it, only after adding extra charges and interest etc.. My main concern is the possibility of a default being placed with CRA's. If the original amount owed was £150, they are demanding £400 with extra fees and charges. I pay them £150 and say they are not getting any more...Can/will they default me for the interest & charges they have added. If they do, what are my chances of getting the default removed?

Hi, I'm in the process of dealing with various Payday loan companies. I've come to arrangements with some, others are being a difficult. Two of the companies are refusing to agree the amount owed. They insist on adding further charges and interest. I've said I won't pay them as they are "unfair". Some of these lenders are now marking credit files, I can deal with a late payment marker, but wish to avoid a default. What happens if they issue a default for an amount including charges and interest which I am disputing? Would it be possible to get this removed? Also. If they won't accept my offer. And I pay whats owed minus any added charges & interest. And then tell them they can whistle for the rest... Are they still able to issue a default. Any help you can offer would be appreciated. thanks

Hi, Can anybody tell me what process a creditor has to follow in order to place a default with the CRA's? A little bit of background about why I want to know. I have a couple of payday loans that I have know have arrangements in place to repay. One of the the is threatening to place a default on my credit file if not paid by a certain date. So I increased my offer to make sure balance is cleared before that date. I suspect this is just an empty threat. But don't want to risk a default. It's my understanding that they have to write to me and give me 14 days to pay what is owed before they place a default on my files with CRA's, can somebody confirm this for me? Thanks in advance

Anybody else had any experience of payday loan company registering defaults?...

Hi, Got into a mess with payday loans and currently in the process of setting up payment plans. The help and advice that I've found on these forums has been extremely helpful. I've looked through this forum to see if anybody has had defaults registered on their credit file after defaulting on their loans, and cant find an answer. Has anybody who has defaulted on their payday loans had a default registered on their credit file??? cb