sold HSBC Loan debt - removing CRA defaults

[MARKIE66]

hi, this is my first post so please bear with me!.

 

4 months ago I requested a copy of my original signed agreement for a bank loan from a debt recovery firm

(Credit Security Ltd, formally the debt was with Moorcroft Debt recovery, originally HSBC).

 

 

The total amount owing was £8920.00,

I had been paying £20.00 per weekand had reduced the debt from £11050.00.

 

 

As they couldn't provide me with the copy (it couldn't be found)

 

 

I wrote them a letter (by recorded delivery) telling them I would no longer pay

as the debt was uninforcable under the consumer credit act 1974.

 

 

To date I have not had a reply.

should I assume that I will hear no more about this matter

or do I need a letter stating that the debt is written off?.

 

Also the bank set a default with the credit reference agencies in sept 2003

and has logged a default every month since,

is there any way that i can have the default removed?.

 

thanks for reading, all help appreciated.

 

Mark

[MARTIN3030]

I see you have read some things already.

In answer to your first question,If you requested a copy of the agreement and sent the £1.00 fee,then they should have returned that if they could not fulfil the request.

In the absence of them contacting you,it is reasonable to assume they wont be trying to collect from you again.Whether they will sell on the debt is debatable.If they were acting as agents then they will pass the debt back to the creditor.

As regards your second question,You should send the bank a section 10 notice to stop them from further processing your data.

I will move your thread.

[bobbyh99]

If the default date is 2003 then these will drop off your report next year anyway!

[MARKIE66]

thanks for the info, i'll send the section 10 but I could really do with getting the defaults completely removed as this is causing financial difficulty for me and i feel that their presence is unjustified, any clues?

[MARKIE66]

thanks, I know I'm probably trying it on but I could do with getting them removed now,are the CRA's allowed to hold information if it is harmful and without my permission (court judgements and bankruptcy's excluded )?.

[MARTIN3030]

If the default date is 2003 then these will drop off your report next year anyway!

 

Assuming there was no admission after that date and it was not re registered.

[MARTIN3030]

Markie,theres currently ongoing debate and discussions about this.I think if you have read those early ones (like Surleys Threads) which I see you have,then you will have picked up a few things.

More recently CAG members have been exporing other avenues and we are not there totally yet but are making good ground.Theres the other problems I think where removal HAS taken place on the basis of confidentiality.

I am not convinced that there have been good results that have not been reported-its not something they want in the open.

My guess is that these removals have happened after an agreed confidentiality.

I cannot believe for one minute that theres been no results I mean on a bigger scale than we know of.

Just my own thoughts.

[MARKIE66]

hi, i defaulted on a rolled up loan (made up of an amalgamation of overdraft original loan and a considerable amount of charges) just over 6 years ago, due to being stitched up by my business partner (ex best friend ). although i struggled i did try to pay off the debt but it was passed on to a debt recovery agency

 

the problem i am looking for advice on is that the bank that i originally defaulted with (HSBC) has registered a default on my credit file every month for the last 6 years, and although last month no default was recorded, all the previous defaults are still on there.

 

this is keeping my credit score low and is noted by CHECKMYFILE.COM as having a very detrimental effect.

 

please help, i'm a good person really

 

mark

[cerberusalert]

It should drop off automatically six years from the original default date. You should get in touch with the CRA and ask why it's still showing.

[MARKIE66]

thanks for replying so quickly, will all the defaults they have registered every month drop off as well?, the last one was registered in july 09.

 

cheers mark

[cerberusalert]

Yes, those are the monthly updates. If you check your file again it should say when it was originally defaulted.

[MARKIE66]

cheers, really really gratefull

 

mark

[pedross]

Hi Mark

 

If they defaulted you 6 years ago you would have one default showing dated 6 years ago.

 

If HSBC are showing each month that you are defaulting on your agreed payments you may have some sort of agreement running. Have you looked into the amount of charges that are included, there may be a case of claiming unfair charges back which could wipe the debt. Are they sending you a notice of default each month with a £12 charge on it?

 

You need to provide more information and start looking into your options.

 

Pedross