MyJar/Txtloans Default

[Ubiquitious]

Hi,

 

 

I was checking my Noddle report and noticed a default by MyJar dated March 2015.

 

 

At first I was confused as I had never heard of this company. Anyway after a quick google search they were related to txt loans with who I did have a loan with back in August 2011.

 

 

I checked my old email account that I no longer use and noticed that they had sent me a default notice December 2014. The amount was for over £600. The original loan was for £300.

 

 

What really frustrates me is that I did have serious financial problems in 2010/2011 however they have since passed. I was kind of seeing the light at the end of the tunnel with the defaults now becoming 4/5 years old. This newly registered default will now be on my credit file until 2021 which is a bit upsetting.

 

 

Is there anything I can do about it?

 

 

I sent them an email threatening ICO, trading standards, financial ombudsman and all sorts but they just replied back with....

 

 

 

 

The reason that the default has not been registered before now is that we have only recently begun sharing data with a credit reference agency. It was not therefore possible for us to register defaults before that time. Now that we do share account information with CallCredit, we have become obliged to send them updates and, where an account is seriously in arrears, to register a default.

[Bazooka Boo]

So do you owe them anything?

 

Technically if you do, then as long as the info on your credit report is accurate, there isn't a great deal you can do.

 

Have you got the default notice they sent you?

What are the dates on it by which you had to rectify the account before they would terminate the agreement?

 

You can also place a 'notice of correction' alongside the default too.

[Ubiquitious]

Thanks for your post Bazooka Boo.

 

 

I do owe money (although £600 is much more than the loan agreement), and the date they gave to rectify was 14 days. They only sent the notice by email, not by post. Also they stopped claiming fees or interest back in 2011 - so it was in default back then. Why add a default dated March 2015 when the default happened in 2011.

[citizenB]

They MUST put the correct date of the default on your file. They cannot fudge that.

 

You could point out that as you had repaid the loan prior to the new rules for credit reporting, then this is grossly unfair.

[Ubiquitious]

Would this invalidate the default notice...

 

 

The date of the notice from MYJAR is December 2014. The date of the letter of assignment of the loan from txtloan to MYJAR is Feb 2015.

 

 

The default notice was issued by MYJAR prior to them owning the debt.

 

 

They have separate consumer credit licenses however they are under the same ownership.

 

 

Effectively however MyJAR sent me a default notice in December and I would have little idea who they are and it is prior to the notice of assignment that was issued by txtloan in Feb 2015..

[fkofilee]

Well heres the deal, they need to put an actual date of default relevant to the actual Loan...

I had mine written off as it wasnt mine and I think they are still trying to get it removed of the credit profile .

 

I can put you in contact with their MD and their Compliance Guy if its any help?

[Ubiquitious]

Well heres the deal, they need to put an actual date of default relevant to the actual Loan...

I had mine written off as it wasnt mine and I think they are still trying to get it removed of the credit profile .

 

I can put you in contact with their MD and their Compliance Guy if its any help?

 

 

That would be great if you could, fkofilee.

 

 

I do not deny I owe them money, but a default dated 4 years after I was in breach of the agreement is annoying!

[fkofilee]

That would be great if you could, fkofilee.

I do not deny I owe them money, but a default dated 4 years after I was in breach of the agreement is annoying!

 

[email protected] - Compliance Director

[email protected] - MD

 

One of the people managed to get their Loan written off by stating they were in a lot of debt. To be honest, what Myjar have done to you at the moment, its rather shocking that they have gotten away with it.

 

The default itself should NOT be allowed to be placed at its current state due to the age of the account. It should be representative of when the loan did default. Not 4 Years later!

[Ubiquitious]

Thanks. I'll contact them both right away.

 

 

Most defaults on my credit file will clear in 3 years time. I was hoping to buy a house - get on with my life - once they had disappeared. This 3/4 year late default from nowhere is very upsetting as it will stick around for 6 years. It just seems very unfair.

[fkofilee]

Thanks. I'll contact them both right away.

 

 

Most defaults on my credit file will clear in 3 years time. I was hoping to buy a house - get on with my life - once they had disappeared. This 3/4 year late default from nowhere is very upsetting as it will stick around for 6 years. It just seems very unfair.

 

Let us know how you get on.

As for a Mortgage, just remember that not only do the defaults need to go... You need to have a good few years of non missed payments to buy the house.

 

Problem you have is they may have defaulted it in 2011... But havent updated it correctly so the Default will actually be with your 10 years... Thats unfair. But only registered for 6

[Ubiquitious]

Nothing negative since Jan 2012! Except this default.

[fkofilee]

Good :0 , Now go get them!

[Ubiquitious]

Just a quick update.

 

 

I issued a dispute via Noddle. MyJar did not respond in time and the record was temporarily removed.

 

 

I got an email yesterday from MyJar stating that they are changing the date to August 2011.

 

 

Seems a fair outcome.

[Bazooka Boo]

A logical outcome, good!

[fkofilee]

Still prefer to see the account go, but Its good either way

 

Keep an eye on it

[Bazooka Boo]