Thread: idiots guide for defaults/consequences

can some one explain about defaults , what they mean how do you know if they should or should not be on your credit refs ,

ie:

4 creditors have no cca details + are not persuing debt

ive read some posts where they go on about getting default off cra file how do they know its wrong when should you get/or not get a default

sorry but done so well so far ... cca req/dispute letters token payments /challenging non compliant ccas , just worried if lm missing something , my credit rating is c**p so ive never worried about whats on my file , but if theres things l should be checking on my file l need some help pse

waffle over

HI,

The Information Commissioners have stated that even though there is no CCA, so long as a link can be identified with the debtor (i.e regular payments) then the OC/DCA have a right to update your credit file.

I know, no CCA so how can they prove you agreed to them using your data???

The only way I've seen so far is to take them to court to get the unlawful info removed.

fox

Originally Posted by silverfox1961

HI,

The Information Commissioners have stated that even though there is no CCA, so long as a link can be identified with the debtor (i.e regular payments) then the OC/DCA have a right to update your credit file.

I know, no CCA so how can they prove you agreed to them using your data???

The only way I've seen so far is to take them to court to get the unlawful info removed.

fox

thanks fox , understood every word just been accepting them as the nature of the beast but was not sure if there were strict time guides as to when they should /not be issued

When you get into financial poo, the creditor will normally send a default notice after two or three missed payments. The notice should give you 14+ days to remedy the default and if you don't the will terminate the agreement and then either move it on to their in-house DCA or flog it on to an external one. They should give you a date and not so many days (i.e, pay the arrears by 22/06/09 and not pay the arrears within 28 days)

What does happen on a regular basis is that the OC sends out a default notice with the timescale wrong or the wording wrong rendering the DN invalid. The OC then terminates the account and because of a faulty DN, they can only claim the arrears.

If you have been defaulted, check them to make sure they are legitimate.

fox

Originally Posted by silverfox1961

When you get into financial poo, the creditor will normally send a default notice after two or three missed payments. The notice should give you 14+ days to remedy the default and if you don't the will terminate the agreement and then either move it on to their in-house DCA or flog it on to an external one. They should give you a date and not so many days (i.e, pay the arrears by 22/06/09 and not pay the arrears within 28 days)

What does happen on a regular basis is that the OC sends out a default notice with the timescale wrong or the wording wrong rendering the DN invalid. The OC then terminates the account and because of a faulty DN, they can only claim the arrears.

If you have been defaulted, check them to make sure they are legitimate.

fox

hi hun

just checked through all of them and all seem ok apart from my mint default which says my arrears should be credited to my acct within 14 days of the default notice
this default was issued on 18 dec 06

they have sent a copy of cca which seems kosher and have been really low key all the time
do l need to do anything ??

If you have access to a scanner or digital camera, it would be worth posting your agreements/Default notices up (minus personal details) to let the experts have a look.
If you use photobucket to upload, it makes it easier for us to see