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Crapital One finally put a default on my file


Silky444
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Today i got a letter stating that they have terminated my account and they shall not give me 'spending privileges' with them anymore. and that they are entitled to demand the full payment of £253 at anytime. if i don't pay up my account shall be sold to a debt collection agency and they may do a door-to-door visit.

The guy upstairs seriously has a problem with me.. Nothing seems to go right!!!:|

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Is the default necessary if i have let them know i am in a bad financial situation and they had agreed to stop the interest. :(

The guy upstairs seriously has a problem with me.. Nothing seems to go right!!!:|

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Have you pushed for the charges to be dropped? AFAIU, if there are unlawful charges on the account then they can't sell it on, I also think it voids any default.

 

I'm sure others in the know will advise.

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The default is absolutely neccessary. It is important for creditors to know you have missed payments. This ensures credit is not given to persons who cannot afford to make the repayments.

 

Banks are often critisized on this site for giving loans to those who can't afford repayments! Defaults data is therefore benificial to ALL.

 

You also have a cheek calling them 'Crapital' after they very generously stopped interest. I think a 'thank you' would have been the correct response.

 

My god debtors want it all ways!!!

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the charge's where late payment charges, then whiched has caused it to go £50 over the limit (£200)... GRRR

The guy upstairs seriously has a problem with me.. Nothing seems to go right!!!:|

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There is essentially no statute which suggests such

 

however, that said, based upon case law, there is a proposition in Woodchester Lease Management Services Ltd v Swain & Co - [1998] All ER (D) 339 that suggests that where the figure required in a default notcie is incorrect it would render the default notice invalid

 

now if we look at an unlawful penalty charge, if the figure contains an unlawful penalty charge, it would be easy to suggest that providing the lender would reasonably know the figure was wrong, the default notice would be rendered invalid as the figure payable is wrong

 

regards

paul

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