Hi,

I wonder if anyone can help. I recently entered a DAS(Debt Arrangement Scheme - applicable in scotland) to pay of 50k of debt. The terms of my 5 loans have been increased to 100 months of £500 payments from 60 months, and i am still paying the total amount off which is my intention.

I've recently looked at my credit file and i have 5 defaults for these loans, is this correct?

I was expecting there to be an adverse affect on my credit file, but i was expecting 'AP' arrangement to pay on my file as opposed to a 'default'.

I've made every effort to face these debts and pay them off, but my credit file looks the same as if i had ignored the debt and not made any effort to deal with it.

Is there anyway this can be changed? I've recently been refused a job because i failed the credit checks.

Its the world of credit reference- institutions will do what they like. Have you received default notices?

I've not been served any default notices, but i hear they don't have to serve them.

They also haven't updated my credit file with the regular payments i've been making for the last 12 months

They do have to send you a notice of default although non-delivery (in the case of moving home for example) doesn't cut the mustard as far as non-service a default notice. Prior to the default notice they have to warn you you are at risk of default, and they must give you the chance to pay to prevent the account falling into default.

Agreed, my offer to pay reduced terms over a longer period, paying the whole sum back has made no difference. They've defaulted me even when they've agreed the terms.

Any ideas on what i should do?

They cant default you unless you defaulted on the scheduled payments. That`s how it feels to me. Raise a dispute with the agencies in question.

Pending on your situation you can hard ball the creditor saying that you about to move abroad to the likes of Cuba and if they want something you offer them a 10 pence on a pound provided they also give you a letter stating their total satisfaction, the fact that the debt is fully discharged and their agreement to remove all arrears, defaults etc from your credit agencies file.

This advice doesn't seem plausible. i don't want the debt written off, i want the default off as i've always intended to pay it all back.

i've spoken with TSB who say they will remove the defaults and will fax equifax so it is done quickly.

They still haven't done it. i've phoned every day and keep getting excuse after excuse, i've asked for it in writing and they say they have requested that it is sent to me.

Has anyone else had any experience of this? Whereby verbal promises are offered but never actioned?

i've spoken with TSB who say they will remove the defaults and will fax equifax so it is done quickly.

 

They still haven't done it. i've phoned every day and keep getting excuse after excuse, i've asked for it in writing and they say they have requested that it is sent to me.

 

Has anyone else had any experience of this? Whereby verbal promises are offered but never actioned?

All the time.. they say one thing on the phone and do another in reality. Ask for a copy of their complaints procedure and escalate your complaint. If all else fails threaten them with legal action. That may get their attention!