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Hi a bit of advice needed

 

I had a payday loan with Next Credit.

This loan was taken out in early 2013.

Unfortunately due to serious debt issues I was unable to pay.

 

Moving forward to 2016,

I checked my credit file and Next credit had been reporting the loan as “late payment” for 3 years, no default.

 

I made a complaint with them regarding this and they sent a final response in June 2016 saying

“your credit file is a true reflection of the status of the loan”.

I was going to raise this with the ombudsman but to be honest I forgot.

 

I want to get this sorted

I am happy to pay the balance (what currently is 2.8 times the loan amount)

but I feel 3.5 years of late payment markers is unfair.

If I pay this now it would be a further 6 years until this falls of my credit report.

 

My question is

what can I do,

I understand I am out of time to complain to the FOS.

 

 

I did make a complaint to the information commissioner's office, 4 months ago but I have not heard anything (I have chased this up and they keep saying they are busy)

 

Is there any other options,

could I file a county court claim maybe?

If I can what would I file it under- i.e- mishandling of personal data?

 

Any advice would be greatly appreciated.

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a creditor does not 'have' to default you.

 

 

as far as I can see they've done nothing wrong.

cant see what you can do.

 

 

unless when you took the loan out

you already had a poor credit rating and you could argue irresponsible lending?

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thanks so much for your reply- I may have misunderstood the process then. From the ICO website it says-

 

Generally by the time the account is 3 months in arrears, the lender may be taking further

action such as reporting the account as defaulted (see Principle 4 below). Missed payments

may continue to rise and be reported up to a maximum of 6. On some products this may

continue to show as 6 until the lender takes action and reports the account as being in

default.

 

The exceptions are-

 

There are exceptions to this which may result in a default being recorded at a later stage,

such as secured or long term loans e.g. mortgages, or if the product operates in a more

flexible way e.g. current accounts, student loans, home credit.

 

 

http://www.scoronline.co.uk/sites/default/files/high_level_prinicples_document_final.pdf

 

Any advice on that?

Thanks in advance

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the old rules used to be they had to default

those new rules/guidelines, no longer state they 'have' too.

 

 

what about the IR route?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

Ahh, yes i did add this into my original complaint back in June and it was upheld.

 

No worries though i will just have to pay and live with the bad credit for a little longer.

 

To me it is strange though as hypothetically if i never pay them they could report the loan as "late payment" till the day i die, what just does not sound right at all.

 

I trust you word though as you are a very experienced poster. Thanks again for taking the time to reply.

 

If anyone else has any magical ideas please do let me know.

 

Thanks all

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surely if the IR complaint was upheld it should of been totally removed?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 2 weeks later...

Nextcredit was right cowboy outfit in 2013.

It was part of toothfairy.

 

 

They never did checks and said they would lend to anyone over 18 that had a job.

 

 

In their contracts they had charges for withdrawing from the agreement within 14 days which I have never seen before and I doubt is legal.

 

 

Online loan shark sums them up.

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