Default on a default barclays

[Inertia Creeps]

It shows as last being updated on 31/01/10. I settled the account in full in December 2009. It says the account status 1 - 12 months with 6. Then account status 13 - 24 months also with 6. Balance of account underneath the 6. Payments with CL finance made on time, no erratic payments with them as it was done through payplan.

I would upload the entry if I knew how to do it!

 

And just noticed the Barclays loan is showing as satisfied and not settled. I paid it in full. Just realised that satisfied and settled mean different things.

I will now have to re-send the letter asking them to look at that also!

[BRIGADIER2JCS]

Satisfied applies to a defaulted debt that has been paid, ie the default has been rectified.

Settled applies to debts such as a loan which is paid up in normal time according to the terms

of the agreement.

[Inertia Creeps]

It seems that the different creditors use what they want. My Barclaycard account is marked as settled yet the Barclayloan is marked as satisfied even though I also defaulted on the Barclaycard.

I also had 2 accounts with Egg, one a loan and the other a credit card and both of those are marked as settled.

Am I right to assume CL Finance have the right to mark the account as being delinquent from the time settled? Real sorry with the dumb questions!!!

[BRIGADIER2JCS]

DON'T worry about the questions!!

 

I should also have said that when an account is sold the original creditors entry should be marked ''settled'' defaulted or not because the debt purchaser has paid the creditor for the debt.

[Inertia Creeps]

I've just found a default notice issued to me by GE Money in 2006. CL Finance acquired the account in 2007 and now I have these late payment markers.

Is it ok to have a default and late payments on the same account? I ask because you cannot have 2 defaults on one account.

 

As soon as the default drops off put these markers on??? Or even have them on the same account at the same time? I can't see how that is right or even fair. That means there would be no distinction between those that pay and those that don't.

How can paying back your debt put you in a worse position than those that don't. That is total madness.

And it would mean I was some sort of mug paying it all back.

[BRIGADIER2JCS]

Hi, yes you can have LP markers and a default, it's not 2 defaults, just showing the actual conduct of the account.

The default will be removed after 6 years paid or not, this means that someone who pays their debt is not disadvantaged compared to someone who makes no effort to pay.

[Inertia Creeps]

Just an update, CL Finance have told me they will remove the 6 markers and replace it with a default which will drop off in July this year. Of course I will believe it when I get it in writing but another point I wish to make is that because I have the original default with GE Money from 2006, is it possible that once the debt is sold on another default can be added if the original debtor removes the default from the credit file?

I'm under the impression that you can't but I'm willing to accept the default until July as I feel that is more preferable as opposed to 6 markers until early 2016.

[BRIGADIER2JCS]

Well that is a result!!

 

You are confusing matters here on the credit files:

 

1. The original creditor reports the default on date xxxxxx, the debt is sold the debt purchaser must report their data BUT the default on the OCs entry is marked 'satisfied' the debt purchaser add only their data but with the SAME default date, so one debt, one default, one default date.

The entry CANNOT be made again once removed.

 

You have a good result here!!

[Inertia Creeps]

Thanks Brig, when it comes in writing I will believe it. Fingers crossed. I might even call them tomorrow to "advise" them of your post. I had to ring them today and they tried to say that it was more beneficial for me to record the 6 markers as instead of a default. I told them a default would have been less detrimental. Hopefully I'm getting somewhere with this

[BRIGADIER2JCS]

Beneficial to them ???

Good luck keep me up to date please.

[Inertia Creeps]

Just to let you know with regards to the Barclays default.

After waiting 4 weeks, today I had a phone call from Barclays to say the default will be removed.

I wasn't given a reason as to why I was given a default, I suspect because it wasn't justified in the first place when it was entered on my credit file in 2011

All I can say is that I am very relieved and I feel like I've won a big battle.

Perhaps I'm being ignorant in not pushing why they did it but I just don't have the fight to go on with it.

I got into debt in 2004, I'm now debt free, even managed to get 2 lot of PPI refunds from them and the last thing to my financial freedom was to sort out this default.

 

Hopefully I'll be able to tell you as soon as possible that my credit file is clear of adverse info and that I'm good to apply for a mortgage.

Thanks Brigadier for all your advice and help.

[slick132]

Hi Inertia,

 

The call sounds like very good news but I'd be even happier when they confirm something in writing or actually make the amendments on the CRA files.

 

Great work as always by The Brig on helping with Default and CRA issues.

 

[BRIGADIER2JCS]

Hi IC keep at them until the amendments are made, good result!

[Inertia Creeps]

Just checked my credit report with Experian, default has been removed from Barclays and credit rating gone from fair to excellent.

CL Finance 6 markers still showing but I now have in writing that this will be changed to default which will be removed in July this year. Score will drop obviously but in September time I will now start looking for a mortgage so that is ok.

Very happy indeed.

 

Also had notification of another PPI claim with Barclaycard that will be paying out. Once this has been received I will be donating some more money to the site.

The help of people on this site has been amazing and very much appreciated.

[BRIGADIER2JCS]

Excellent!!

[dx100uk]

great news

 

that's what we are here for

 

dx

[Inertia Creeps]

Hi Brig, just one more question hopefully!!

I looked at my credit report and CL Finance still showing the 6's.

 

I'm going to ring them tomorrow to give them one last chance to rectify this immediately but who do I complain to after?

 

Is it the Information Commissioner or the Financial Ombudsman?

 

As per usual I have it in writing that it will be done and it hasn't but weirdly enough,

up until 19th May my credit entry with CL Finance was last shown as being updated on 31 Jan 2010

and now after speaking to them on 16th May, it was updated on the 19th May still with the 6's.

 

If they decide to go on stink, it doesn't mean the 6 years will start from the newer date does it?

 

I won't even bother with speaking to them if it does,

 

I'll go straight to the relevant body.

[dx100uk]

no can only be 6yrs from defaulted date in the summary.

 

dx

[BRIGADIER2JCS]

Hi Brig, just one more question hopefully!!

I looked at my credit report and CL Finance still showing the 6's.

 

I'm going to ring them tomorrow to give them one last chance to rectify this immediately but who do I complain to after?

 

Is it the Information Commissioner or the Financial Ombudsman?

 

As per usual I have it in writing that it will be done and it hasn't but weirdly enough,

up until 19th May my credit entry with CL Finance was last shown as being updated on 31 Jan 2010

and now after speaking to them on 16th May, it was updated on the 19th May still with the 6's.

 

If they decide to go on stink, it doesn't mean the 6 years will start from the newer date does it?

 

I won't even bother with speaking to them if it does,

 

I'll go straight to the relevant body.

 

yep one debt one default one default date which CANNOT be changed.

[Inertia Creeps]

after another stink phonecall to CL Finance 2 days ago,

I just checked my credit report in order to make a complaint to the ICO and the Financial Ombudsman and the entry has disappeared.

 

No 6 markers and no default.

 

Credit score is 986.

 

Will keep checking over next week before I cancel the credit expert subscription but I'm hopeful that all my credit report woes are finally dealt with.

 

It has set my house buying back by 6 months because I've had to resign a new tenancy agreement but boy am I happy!

[slick132]

Hi IC and great to hear this has actually been sorted.

 

Yup, keep an eye on the CRA files to see that nothing nasty re-appears.

 

Are you going to seek compensation from the bank and/or CRA's.

 

[Inertia Creeps]

To be honest I am done with the pair of them, Barclays especially.

I've had so much stress I just can't be arsed to get into even more dialogue with them. I want to get every single bit of Barclay paperwork I have and burn it but they can't be trusted so I won't.

Yes I've had to stay put in the house I'm in for another 6 months but I know have a clean credit record and I am so relieved and that is enough reward for me.

I know that both financial institutions have reported incorrect data about me but had I not got in the mess I had to begin with, then they wouldn't have been able to do it.

I did my time paying it back since 2005 and in 2013 I now have financial freedom.

I never knew how important it was until now, so I'm good!

[slick132]

Hi IC,

 

If you choose not to seek compensation in this matter, that's entirely your prerogative.

 

I'm just pleased you're pleased with the results you've achieved.