Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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  1. #1
    Basic Account Holder paxon Novitiate



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    Default Next Credit Payday Loans

    Hi a bit of advice needed

    I had a payday loanicon 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 Ombudsmanicon 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 yearsicon 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 courticon claim maybe?
    If I can what would I file it under- i.e- mishandling of personal dataicon?

    Any advice would be greatly appreciated.


  2. #2
    Site Team dx100uk Highly authoritative dx100uk Highly authoritative dx100uk Highly authoritative dx100uk Highly authoritative dx100uk Highly authoritative dx100uk Highly authoritative dx100uk Highly authoritative dx100uk Highly authoritative dx100uk Highly authoritative dx100uk Highly authoritative dx100uk Highly authoritative dx100uk's Avatar



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    Default Re: Next Credit Payday Loans

    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

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  3. #3
    Basic Account Holder paxon Novitiate



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    Default Re: Next Credit Payday Loans

    Thanks so much for your reply- I may have misunderstood the process then. From the ICOicon 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. mortgagesicon, or if the product operates in a more
    flexible way e.g. current accounts, student loans, home credit.


    http://www.scoronline.co.uk/sites/de...ment_final.PDF

    Any advice on that?
    Thanks in advance


  4. #4
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    Default Re: Next Credit Payday Loans

    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?

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  5. #5
    Basic Account Holder paxon Novitiate



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    Default Re: Next Credit Payday Loans

    Thanks again,

    Can you clarify what the "IR" route is.

    Many thanks


  6. #6
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  7. #7
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    Default Re: Next Credit Payday Loans

    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


  8. #8
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    Default Re: Next Credit Payday Loans

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

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  9. #9
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    Default Re: Next Credit Payday Loans

    I meant it was rejected,


    sorry for the confusion


  10. #10
    Basic Account Holder AlbertH Novitiate



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    Default Re: Next Credit Payday Loans

    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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