Confused with defaults on record

[fletch70]

There is , I believe an appeal going through the courts about this very issue.

 

In the original claim the judge accepted the assertion that it was the date the default notice was issued

 

Also , it needs to be remembered that the date of entry on a credit file can have no bearing on the actual date of default, the two things are different.

 

Personally i would expect the claimant in the above case to fold prior to court as the chances of losing and setting precedent could be too costly

 

I try to look at it as the time starts when the balance falls due so it can depend on the actual contract . My Capital one credit card says that 'if you do not pay your monthly payment on time [.....] we will give you at least one months notice to put right any remedial breach ' . Working on that , assuming you made a payment on the date the statement was issued and then no more, it could be almost 3 months before they were entitled , by the contract to demand full payment ( Next statement due in 1 month, say 25 days to make minimum payment then another month to put it right)

 

It always helps if you still have the original default notice as banks do not generally keep copies, just references in their comms log that one was sent. That is why, if I received a LBA of any type i would be sending a SAR to the OC as well as responding to the LBA

[unclebulgaria67]

Hi, i just need ome clarification please.

 

I know a debt becomes SB after 6 years, which means the debt is still there, its just not legally enforcable any more, my question is, is this 6 years from last payment, or 6 years from the date of default on the credit reference files.

 

I have some debts, which i remember the last payment made was in 2008, yet on the CR its says default date 2010, we are talking 2 years difference here from what i know and what they are saying.

 

Thanks in advance

 

If you did not pay anything or acknowledge the debts after the correct default date, then the 6 years will go back to whatever the default date should be per the accounts terms and conditions. For most credit accounts, the default date will be within about 3 months of the last bill or payment not being made.

 

You need to get in touch with the original creditors to obtain the information, so you can get the default dates corrected. If you are correct with the 2008 date, then those default dates should not be on your credit record. If the debts have been sold on to debt collectors, you would not alert them, by contacting original creditors for info. So you coukd safely send off data protection subject access request letters for copies of statements of account, any default or termination notices issued.

[citizenB]

There is , I believe an appeal going through the courts about this very issue.

 

In the original claim the judge accepted the assertion that it was the date the default notice was issued

 

Also , it needs to be remembered that the date of entry on a credit file can have no bearing on the actual date of default, the two things are different.

 

Personally i would expect the claimant in the above case to fold prior to court as the chances of losing and setting precedent could be too costly

 

I try to look at it as the time starts when the balance falls due so it can depend on the actual contract . My Capital one credit card says that 'if you do not pay your monthly payment on time [.....] we will give you at least one months notice to put right any remedial breach ' . Working on that , assuming you made a payment on the date the statement was issued and then no more, it could be almost 3 months before they were entitled , by the contract to demand full payment ( Next statement due in 1 month, say 25 days to make minimum payment then another month to put it right)

 

It always helps if you still have the original default notice as banks do not generally keep copies, just references in their comms log that one was sent. That is why, if I received a LBA of any type i would be sending a SAR to the OC as well as responding to the LBA

 

Is there any public information on this please fletch ?

[fletch70]

Hi CitizenB

To the best of my knowledge the info came from another forum however the solicitor involved in the appeal is not affiliated to any one, she is a solicitor who was involved in the carey case . I will try to find out a little more if I can but again as far as I know it is being done either Pro Bono or on a CFA

[obiter dictum]

Until any appeal sets precedent the situation still remains the same, the cause of action being when the last contractual payment was missed. The County Court does not set Precedent, only the appellate court can do that. Stare decisis.

 

The only exception will be a specific contractual obligation in the contract terms and conditions and being allowed to terminate an agreement

 

BMW Financial Services (GB) Ltd v Hart [2012] EWCA Civ 1959

[tezza1234]

Just wondering, if i have a default on my CR but then i come to an arrangement to start paying it off, will it still be marked as default until 100% cleared (then i assume its moved to settled) or will it be changed to some other status as opposed to default.

 

Thanks

[AndyOrch]

It will show as defaulted and possibly payment arrangement in place.

 

Andy

[dx100uk]

but wil vanish from your file on the defaults 6th birthday

regardless to if you pay or not

 

 

which debt is this please?

 

 

dx

[tezza1234]

So if i jhave one that is say 2 years old for a modest amount £400 say, even though it is currently listed as defaulted, is it worth me paying it off, even if only £20 a month ior something, will my credit rating improve just because i am deciding to pay it off and not ignoring it.

[AndyOrch]

So if i jhave one that is say 2 years old for a modest amount £400 say, even though it is currently listed as defaulted, is it worth me paying it off, even if only £20 a month ior something, will my credit rating improve just because i am deciding to pay it off and not ignoring it.

 

No

[tezza1234]

So i am better off ignoring it, i think it is for a old payday loan debt so i cant imagine it would ever escalate to ccj or anything.

[dx100uk]

lots of pdl companies are writing debts off due to irresponsible lending...

 

 

who was the oc?

 

 

dx

[Bazooka Boo]

So I am better off ignoring it

 

No!

 

Avoiding debts isn't the best way to go about it.

 

As DX says a lot of PDL coys are writing these debts off.

[tezza1234]

Rather confusing and contradictory to some above statements

 

Anyhow, it turns out i was wrong,

they are not PDL debts that are current,

 

i did have some but it turns out they have been written off, on noodle at least,

 

I think maybe getting a experian one will help to see the ful extent of file, as noodle is not 100% accurate is it.

 

I have 2 long standing defaults due to drop of file in the next 5-6 months which equates to more than 4k of debt, so that will help.

[Bazooka Boo]

Rather confusing and contradictory to some above statements.

 

Not at all, you asked if it would improve your CRF, if you began paying it off, the answer is no, once the default is on your CRF it is there for 6 years whether you pay anything towards it or not, no one said ignore it?

 

You can send experian £2 and get a hard copy of your credit file, which should be more accurate and up to date yes.