Hi All... I hope you can help... I'll try to make this as short as possible.
I was a victim of the financial crash.. the business I was in suffered massively and as a result, in 2010, my income reduced by almost 90%.
I made arrangements with all my creditors when I could see this on the horizon (totalling around £100k) which have been in place ever since. The arrangements reflected my reduced earnings and most reduced to around 10% of the normal payment with the interest frozen.
Most of my creditors subsequently registered defaults against me.. some quite soon after the start of the problems, some a few years later... which, now we are 8 years down the line, is great... a lot have dropped off my credit file and a few have only a short time to go until they do... BUT... i have 2 creditors, Nothern Rock (as was) and Nat west Bank, who refuse to register a default.. they just show late payments every month even though I am thousands in arrears and show as 6+ on my credit reports..
My question is, should they have registered defaults many years ago or can they effectively keep on punishing me, which will ultimately be, for the rest of my life, for an event out of my control?
My business will never return to its former glory so I will never be in a position to clear these two debts in full. If I had declared myself bankrupt when the crap hit the fan, this would have been done and dusted many years ago and I would be pretty much back to normal but because I chose to do (what I thought) was the right thing and keep paying my creditors.
Would the FOS agree that defaults should have been registered all those years ago or can nat west and Northern Rock keep causing me problems (and they are now becoming quite significant as I need to be credit checked for my work and for business accounts)
Any help gratefully accepted