Can i get wescot to remove my defaul once i finish paying them

[xbear]

Hey guys,

 

I was wondering if i can get or demand for my default to be removed once if finished paying wescot. They are in charge of the dept now i have been paying them off monthly however another dept found me the other week that lowel proflile 1 had bought off capital 1. They told me if I pay it off they will remove the default. So i got the idea to try it with wescot then i will have no defaults on my credit file once i have finshed paying them in a couple of months.

 

Any ideas?

 

Xbear

[firstship]

xbear,if you are paying Westcot monthly payments when it is finished it is unlikely that they will remove the Default from your credit file,even if you try and demand it.

 

Are Westcot acting for the OC or do they own the debt?

 

FS

[cerberusalert]

They told me if I pay it off they will remove the default.

Did you get that in writing? I would wager not.

[xbear]

I shall try to get it in writing about the capital 1 dept but its already dissapeared from my credit file.

If I stop paying wascot do you think i have a chance of using payment as a bargainin chip?

[cerberusalert]

I shall try to get it in writing about the capital 1 dept but its already dissapeared from my credit file.

A default drops off a credit file automatically after six years & cannot be re-registered.

If I stop paying wascot do you think i have a chance of using payment as a bargainin chip

To be honest, it's extremely difficult to get them to remove a default. They have a code of honour amongst themselves in the finance industry where they feel it is their duty to trash credit reports.

[InsideSPY]

normaly the defult is issued onto the credit file by the cliant and not wescot so they would be unable to remove it from your file.

[FORMISTER]

Depends if they are managing the CRA entry on the OC's behalf.

 

You will find many discussions on the forum regarding removal of defaults. The argument for removal would be that you had paid the debt off, therefore there are no longer any contractual agreements between you. You would therefore argue that your permission is not perpetual. I have heard that people have had some sucess at this (as long as the debt is fully settled), you'll have to have a read around about it