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1st credit changed old lloyds od defaulted date?


Thecasementkid
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Hello everyone.

 

My query is simple and I'm certain has been asked and answered on here at some point.

 

My partner went through a very acrimonious divorce six years ago when her husband upped and left her with a house and four children to contend with and no money. She subsequently got a job and has just about kept her head above water.

 

Her one issue credit wise was a Lloyds Bank overdraft, in joint names for which she was chased as the husband disappeared off the face of the earth!

After a lot of correspondence, Lloyds closed the account and defaulted the balance. The bank charges and interest had rocketed from £1000 to £2400 at this point.

A year ago, she got a letter from 1st Credit, informing her they had taken over the account and insisting the loan be repaid.

They didn't want to know about her circumstances and asked for a minimum of £50 a month which was really impossible. An amount of £20 a month was finally agreed.

 

She noticed recently the Lloyds Bank default, which would have dropped off her credit record in 9 months, has been removed and replaced by an account with 1st Credit and a new default date which won't drop off for an additional 5 years.

She's really at her wits end over this. I've read conflicting advice, some saying it should be the original default date and others that it's a new account and the default date is correct.

 

Any advice would help please.

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They must use the same original default date that Lloyds used on her credit file. A D or 8 in the status history can continue after that, so make sure it's the actual default date she is looking at, not the status history.

 

ICO advice on recording defaults where the account has been sold is

 

CRA Defaults - Recording of defaults relating to debts that have been sold.

 

The practice of selling/buying debts is widely used. As long as the information is correctly recorded on a credit file by the lender selling the debt and the lender buying the debt, then two entries relating to one account would not be considered to be a breach of the Data Protection Act provided that:-

 

* both recorded entries are shown as being in relation to the same account/debt;

* the original debt entry should be shown on the credit file as being either ‘settled' or ‘zero' balance and should show that the debt has been ‘re-assigned’;

* the new DC who shows the debt in their name should maintain the original default date and the correct balances;

* the retention period for maintaining the information on a credit file should be based on the original default date regardless of who is responsible for the entry/debt.

 

 

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I seriously question the wisdom of paying any dca on an of debt

I takes it she fell for the three at o trams?

Or heaven forbid have been talking to a dca on the phone?

 

Send 1st crapit a copy of the old Lloyd s cra file entry

And give them 14 days to correct their entry

 

Get that war running too

As I bet the debt is more penalty charges than anything else

 

DX

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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