Offer Of Money! Default Removal!

[Angy]

Hello Folks,

 

I have about 4 Defaults on my credit report. A friend told me i can negotiate by offering 10% of the money owed to each of them. In turn, they will remove my name from credit agencies. Is this true?

Please assist.

[citizenB]

The default will stay on your record for 6 years regardless of whether you offer any money to them.

[Angy]

Hello Guys,

 

I have a number of accounts with barclays. One of them have £400 overdraft. I hardly use the account at all. There is no direct debit and i dont use the card at all. The charge me the overdraft charge monthly. Sometimes the balance on the account will be £410 due to charges. I pay like £10/£20 into the account sometimes.

 

I checked my credit repoirt recently and i saw default had been registered for this account. What can i do to get it removed?

 

Thanks

[Angy]

Thanks.

 

But sometimes ago, i offer Egg some money and the default is not in my record anymore. That was 2 years ago.

[citizenB]

When was the date of the default for EGG - if the default only had a short time left then yes, it would come off at the correct time.

[Angy]

When was the date of the default for EGG - if the default only had a short time left then yes, it would come off at the correct time.

 

1) I cant remember the date

 

2) Do creditors normally accept that kind of 10%? Do you have a teplate of such?

 

Thanks

[BRIGADIER2JCS]

Basically nothing you can do, if the account has gone over limit

on a number of occasions the default is automatic.

You will have had at sometime prior to the default date shown on

the CRA entry received a Default Notice giving you an opportunity

to rectify the default, having failed to rectify the default is placed.

You need to pay a regular amount to keep interest and charges to

a minimum.

[citizenB]

There are templates in the CAG library, link is at top of screen to the left.

 

I rather suspect there wont be anything that will be of use to your situation though.

[Angy]

thanks

[slick132]

HI Angry,

 

If you are experiencing Financial Difficulties, you can ask Barclays to stop adding interest and/or charges to the a/c. If they agree, any payments you make will be directly reducing the a/c balance. See here - http://www.consumeractiongroup.co.uk/forum/content.php?557-Letter-for-an-application-for-consideration-for-hardship

 

If you are not regarded as being in FD, you should make it a priority to pay whatever you can to reduce the balance regularly, to avoid default charges and reduce the crippling interest they charge for the o/d.

 

[Angy]

I have a number of accounts with barclays.

 

On this particular one, i have £400 overdraft which now a debt of £470 due to interest etc.

 

I received letters last week titled '' Your facilities have now been withdrawn '' .

 

I just dont have money to clear this off. Does that mean a default had been registered on my name?

 

Can i just start paying some money on this account for a while until is is cleared?

 

Cheers

[slick132]

Hi Angy,

 

Unless you come to an arrangement to pay this which is accepted by the bank, they may well place it with their Collections Dept and demand payment of the full balance.

 

If you are now, or have recently been, in Financial Difficulty, you may be able to reclaim default charges using The Lending Code.

 

See here - http://www.consumeractiongroup.co.uk/forum/showthread.php?387436-Letter-for-consideration-regarding-Hardship-or-Financial-Difficulty

 

This can also be used to ask that the bank stops adding interest and/or default charges, although that may stop anyway if the a/c is closed and placed with Collections.

 

[Angy]

So if i speak to barclays. i can resolved this.

[slick132]

Hi Angy,

 

We normally suggest you keep everything in writing only. Otherwise, bank staff can tell you they agree to something and then say later they never agreed to it at all.

 

Do you think "Financial Difficulty" might apply to you, as per my suggestions above ?

 

Edited February 17, 2014 by slick132

[Angy]

Cheers.

 

I spoke to them and they gave 2 options;

 

1) If i pay £80 a month for the next 6 months, the money will be cleared and all back to normal or

 

2) I send them a budget sheet. we will agreed a small amount but the account will be closed permanently.

 

My fear is the default which will affect my credit file which i am trying hard to clean up.

[Angy]

Good morning.

 

I checked my credit score last night and found that a default was placed on my account last year by Barclays bank.

 

I have 2 accounts with them which i opened over 10 years ago.

 

I have overdraft facility of £400 on this particular account. Which i used regularly and pay bla bla bla.

 

Few years ago, my wages dont go to that account so i hardly even access the account.

 

The amount is £300 which i can afford to pay. Is there any tactics i can use to pay this and remove the default from my record?

 

Thanks

[dx100uk]

old and new threads merged

 

 

so how did you get on the last few times you've asked this?

 

 

dx