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OK general question here as I have been doing some trawling through the forums over the past hour.

1. Is there a legal requirement from a bank, cc company etc. to supply you with a copy of a default on your account/credit file satisfied or unsatisfied?

2. Can you legally force a removal of a satisfied default if they are unable to supply you with an original copy?

My eyes hurt with searching!

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1) No

 

2) I take it you mean an original copy of an agreement. If there is no agreement, you can argue that they have no proof that you gave your permission for them to process your personal data, that them passing your personal data to credit reference agencies was therefore a breach of the Data Protection Act 1998 and you can ask for the default to be removed on that basis. It is also a breach of the Act for credit reference agencies to enter information on your credit files which was passed to them unlawfully by the banks/DCAs. The CRAs will argue that they did it in in good faith but it is up to them to check the authenticity of what they process, especially since it is someone's personal data protected by law.

 

You will have a fight on your hands to get it removed but you have legal grounds to do so and you will win if you stick it out.

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Thanks for the help there Pinky.

The reason I am asking is that some years ago I had a current account with HSBC that was defaulted. I paid the balance immediately when passed to Lowell however the default (as expected) still remains on my file.

It was a long shot so I sent a CCA request through and I was advised that current accounts are excluded from these kind of requests. I then asked to see copy of the original default notice to which I received a response advising that they have requested this from HSBC and will send in on when they receive it... this was over 2 weeks ago.

I'm learning new things everyday here but I still get stuck with things like this as I have no idea where I can go from here.

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I've read on other threads that HSBC enter a default on CRA records when they pass the overdraft to DCAs. If you google "Default Notices and Overdrafts" you will find some of these threads. You say this was "some years ago". A default falls off your records after 6 years so perhaps it doesn't have that long to go.

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Ok thanks I will do that.

 

The default was entered at the end of 2004 which is a bit of a pain. The balance was paid off almost immediatly without any fuss. I'm just a little gutted that they dont legally have to show me the agreement which would have been a great starting place to get the ball rolling.

 

There goes the house for another year or so now then!

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The default on your credit file should be marked 'satisfied' & with it being that old a lender under normal circumstances wouldn't take much notice of it. Though after saying that, due to the economic climate borrowers are finding it difficult to obtain a mortgage anyway.

 

Have you checked your credit file recently? If not you can get an absolutely free basic check here https://www.annualcreditreport.co.uk/account/create.htm or for just under a fiver access to your file for a year giving regular updates, credit scoring etc.

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I have kept a close eye on my credit file for some time now and 2 things are standing in my way from a perfect credit history one of them is this and the other is HFO who are seemingly making the rules up as they go along (it's on another post).

 

I'll send them a letter asking for them to remove it as they have not supplied me with a default notice as promised a couple of weeks ago. You never know they may just say yes and remove it... I have nothing to lose!

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