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I have just applied for a mortgage and was refused. I was a bit miffed and as soon as i was able pulled up my credit file and saw that this was on it:
Name and address: XXXXX
Date of birth: 1984
Company name: Barclays BANK PLC (WOOLWICH)
Account type: Current Account
Started: 01/06/2000
Default Balance: £XXX overdraft Balance: Satisfied
Defaulted On: 24/02/2005
File updated for period to: 16/04/2006
Status History: (brackets indicate most recent status) [8]
8 being that it has become a defaulted account. I went into my local Barclays bank and they gave me a number to call, i called it and then they forwarded me to another number, then after telling them what i had told the previous two people they forwarded me back to the first number i was given!! Needless to say i'm very confused about this.
As far as i an concerned this account has been closed a long time ago. Would someone be able to tell me why it says Satisfied but is still shoiwng as a default?
Hello mate, my credit rating has been pretty poor the last few years, i was miffed cause i have a 24K loan that has been paid with no late payments, but i did have a bit of bother in 2002 when payments were late, but everything was paid. I know i should have done a crdit search earlier, but it was always a hassel to get the paperwork sent, i wish i did do it sooner.
But anyway i done my experian search and saw that i was defaulted with Capital One, like yourself it say that the default balance was £829 the default date and dthat teh balance was satisfied. But with me, i actually paid the money off in full when they demanded the money in full, thats why i never thought it was there. Other banks where the money was outstanding and piad it shows it as settled and not defaulted. I have written to capital one, telling them to remove it as it has been put on their illegally as the money has been paid in full, i'm also asking for compensation for the bad credit it has caused me in the last 5 and half years, i don't know weather i'll get any compensation, but want the default removed.
It is 6 years for it to be removed, but i think satisfied means that you still owe them money but they are satisfied with what they have received, because otherwise it would show the account as settled? Did you pay the money???
Once i get any feedback from capital one i will get back to you, like yourself i am looking to buy a place, and want this removed straight away, and well if the place fall through may see if i can get any compensation for that, but i'm not sure where i stand. The annoying thing is its got to be done in writing, they won't give me the head office number.
Thanks for the fast responses. I didnt think i would get a reply this fast
I closed the account a long time ago and when closing an account the amount owed has to be cleared up. This is why i was a bit confused when it said that it was still open afterwards.
I had a thought that it might have been some charges that got applied afterwards and then there was interest added and added over the years.
The most annoying thing about it all is Barclays have no idea who i am and cannot find my account on their systems so i have no idea how to pay/get this cleared off.
Star scream, i have the same problem that Capital One could not find me, hence writing to the head office. If satisfied means paid in full, why was the account defaulted. It was paid in one single payment when they requested. I remember they demanded the full amount and i had to get my dad to pay it. So why was it defaulted when the account was settled when they required, i never once received any default notice or information to say that they were going to or have defaulted my account?
Sorry if it seems i'm putting my post on here as well, but it seems that i have the same issue.
After recently obtaining a copy of my credit file from Experian I was concerned to note that your company has placed a "Default" notice against my account.
Further to this I have no recollection of ever receiving such a notice, and I therefore require you to substantiate this data at your earliest convenience.
1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.78 (1) Consumer Credit Act 1974 (s.77 (1) for fixed sum credit). Your obligation also extends to providing a statement of account. I enclose a £1 postal order in payment of the statutory fee, PO Serial Number 1587 716732.
2. You must supply me with a signed true and certified copy of the original default notice
3. Any deed of assignment if the debt was sold on
I would request that this data is provided to myself within the next 28 days, if you are unable to provide this data then I must insist that it is removed from my files as unsubstantiated.
Yours faithfully
This letter I 'borrowed' from Freakyleaky one of the Site-Helpers.
Regards.
Scott.
Any advice I give is honest and in good faith.
If in doubt, you should seek the opinion of a Qualified Professional.
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Help keep it up and active, helping people like you.
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Thanks, do u think i'm entitled to any compensation if the default was put on in error? Its been on there for the last 5 and half years and is the only thing that is effecting my credit rating, everything else is perfect.
To be honest i'm not fussed about the compensation, i just want if off so it don't jeopoduise me getting this flat
Im not sure what sending them that will do because its only a leaflet but ill do it anyways, can't hurt can it 8-)
They searched for about 15 mins and nothing could be fouind - they even called up the Woolwich "Redundent" accounts and they couldnt find anything on me.
Its like i dont exsist on their account system but the credit thingy says that i do.
Thanks again for your help it much appriciated, cookies all round!
Milan0 there will be a record cause i had that before with Capital One when i wanted statements, but they found them in the archives, it will be there. Try and get through to their head office, you might have to put it in writing, like i'm having to do.
we have exactly same problem mate did u ever sort it out Barclays dont know who i am either and were loooking to get a house as well which is why we ned it off there its all so confusing, we havent paid ours yet but they cant find me on the sustem
Woolwich Defaulted Account
and was refused. I was a bit miffed and as soon as i was able pulled up my credit file and saw that this was on it:
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