Quick question

[cat10]

Just a quick question, do MMF put defaults on credit files?

with out going into detail ,the notice of assignment is correct etc. I do owe the money and feel I should contact them and discuss a payment plan or a one off payment. I can't afford to have a default on my credit file. I have managed to get my credit file in a healthy state after a bad six years.

Just want some advice wether to communicate with them, or chance it and do nothing?

[renegadeimp]

Nope. The only thing they can do is update the one the oc entered.

[cat10]

Hi and thanks for the answer.The problem is that I don't have a registered default with the OC. MMF will have bought the debt from them. So I presume they could put a default on my credit file.

[renegadeimp]

Nope. Only the OC can, unless there is an explicit terms in the terms and conditions that allows the DCA to do so. And that is very rare.

 

Of course MMF will threaten they can do it, but they cant.

[cat10]

If they have assignment I'm sure they can. I have one from Gothia on my credit file which was originally a payday loan.

[renegadeimp]

Nope. For them to Add their own default after theyve bought it, and the OC hasnt entered one, there must be a term in the contract that allows it. Very rarely thats the case. Normally it states something like your info may be passed to third parties or collected via a DCA.

 

If they were allowed to add it whenever, then MMF would use and enter the default as a form of blackmail against a debtor. However, they cant and havent. All they can do is threaten people and hope that the debtor is gullible enough to believe MMF's lies.

[cat10]

Thanks renegadeimp. So does that mean the default on my credit file from Gothia which was original Wonga could be taken off my credit file because of the reason you stated in the previous thread.

[renegadeimp]

Youd have to check. Wonga are well known for placing the default on the file immediately before selling the debt. You then see Gothias info on as wongas was removed pretty much immediately.

 

This would mean a SAR to wonga.

[cat10]

But how can Gothia have the default if it was issued by Wonga. Mine was always Gothia.

[renegadeimp]

YOU see it as gothia. If wonga placed it right before selling, then as gothia inherited all rights and obligations when they bought it, then they also have the right to change the info on the file. Which is what happens pretty much immediately. Especially with PDL's and their pet DCA's. Like i said. You would need to SAR wonga and also get a copy of your full contract with terms and conditions.

[renegadeimp]

No DCA can ever put a default on your credit file unless the OC already has. The only thing a DCA can then do is update the default with their details.

[BRIGADIER2JCS]

What is the default date showing on the credit file.

(you would be better starting your own thread to avoid confusion with cat10s problem.).

 

 

With the information given so far I suggest you make a Formal Complaint addresses to Mr Rob Sands, Compliance Director at MMF, use signed for post, (do not use a PO Box No,

in the address the letter may not get signed for).

[cat10]

Just a quick question regarding a default put on my credit file by MMF. The loan was for a pay day loan. The loan was taken out on 22/11/2012 then the default was put on the 21/12/2012. Surely the time period is one month can it be put on that quick?

The default was only put on my credit file 2 months ago. Was originally with Quick Quid then MMF got their grubby hands on it.

Is there anything I can do to get it off my credit file?

[renegadeimp]

They can put the default on anytime after the cause of action. If it was added correctly as part of correct account reporting, then the ONLY way it can be removed is if you negotiate its removal as part of a F&F. And MMF will be very reluctant to do that.

[cat10]

Thanks for the reply. Just thought one day after non payment a default is registered. Will try and negotiate with MMF. Has anybody been successful with getting the default removed with a F&F.

[renegadeimp]

Very unlikely you will. MMF think the rules dont apply to them and they can do what they like. They seem to use defaults and your credit record as a form of leverage to get you to pay more than what you owe.