Hi all,

Needing some help here. So as with many people I received redress from CFO. *This is not admittance of liability for this loan, just queries of correspondence*

Original loan: £550

Original date: 06/03/2013

Before redress: 1050

Redress: 350

Outstanding: 708

Not long after being notified of this redress I started to receive collections emails, I recently received a intent to default notice, and then today I have received a default notice by EMAIL.

As with many of the loans I am supposedly liable for this one is many years old and would be SB in less than 3 years. Can they apply a default so long after, considering payment or communication on the account has not been made for 3 years?

Is Email a valid method to communicate a default?

Some help would be greatly appreciated. My credit file should be clean by 2018, and so have been holding out for that, but this could ruin it all

the default should be logged at around your third missed/short payment.

not today 3yrs latter

dx

That was my understanding exactly. What can I do about this? do you think they will log the default from today or from the original date?

dunno if they actually do at all?

but you'll be giving them 14 days to correct it if they do

else complaint to ICO and compo time!!

I thought this lot were dead and buried?

FCA really hit MT collect hard a few years back.

dx

Yea thats what I thought as well, the were always fishy anyway with the old CFO Resolve. I dont know whether this is just dirty last ditch scare tactics or something enforceable.

So you are saying keep an eye out for the default on my credit file, if it appears and it is dated after 2013....complain?

yes ... I have a feeling its just buff and brasso

but complain tothem first giving 14 days to rectify if they don't

then off to the ICO.

I gather you have the correct date worked out?

Yea I would be able to figure out the correct date from old emails.

However if I complain to them will this not be me admitting liability for the debt? I havent made payment nor communicated with them in over 3 years.

i don't think that's an issue you need to worry about?

they wouldn't be refunding you if that were the case.

but no I don't think it is admittance

well lets put it this way

the debt will go off the file IF they do default still on the defaults 6th birthday

what bearing if any a complaint has on the SB status is anyones guess with this lot

but I cant see an issue

think they are dead in the water anyway.

Sorry Im not sure what you are saying is an issue i do not need to worry about? or what they would refund me for?

I get what you are saying, that if they default me (n the correct date) it will still be 6 years from that date on SB.

What would be the best way to make a complaint? Should I ask for proof of debt/default aswell?

sorry I meant to say wouldn't and I mean your current redress you have gotten.

don't confuse SB date and default date

the two are totally unrelated.

might not be a bad idea to go down the CCA request route if things get silly.

shall we wait and see what they do

then we'll deal then?

Yea sounds like a good idea, as they arent on my credit file at all at the moment as far as I can see.

What is the difference between the SB and default date? As far as I understood a debt becomes SB 6 years from default or last correspondence/payment, whichever is most recent.

Really appreciating your time and patience with this, thank you.

statute barring yes typically runs from last signed correspondence/payment/use, whichever is most recent.

then that cant be anything to do with a default date

as that can be anywhere anytime as you've just found out:lol:

Ah right OK, but most statute barring will start counting down after you have defaulted if you havent corresponded/paid....give or take a month or so. Because when i look at my credit file most of them stop being reported 6 years from the default date...approx.

credit file nor defaulted date have any links whatsoever or relevance to SB date.

the reason why they fall off the CRA file is:

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off, paying now or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

.

NOTE: {the bracketed text is not ICO guideline but my advise]

Now I see where I was getting confused! So are you suggesting I make a CCA request to the payday loan companies.

TBH all my defaults have not been communicated with or paid since they defaulted, so SB should be the same time...ish. as when they drop off my credit report.

Do you know if companies keep a record of people who have defaulted with them? So I had a outstanding and unsettled default with Bank X, when my credit file cleans itself up....if I went to that bank for a mortgage would they still be able to see and refuse me, even if my credit file looks squeaky clean and i have good salary etc...?

depends if they search internal records.

when a debt becomes SB'd in England and wales

[rather than Scotland whereby its 5yrs and is totally extinguished dead gone parrot]

the only thing that changes is the fact that 'the owner' cant enforce any court judgement

the debt still exists, is still collectable

but as they cant use or threaten court

they tend not to even bother chasing.

as all 'the owner' can do, is ask you to pay it

you can equally ask them to go away.