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Defaulted Loan Back On Credit File **COMPENSATED**


B733
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Hi have not posted for a while as things have been ticking over O.K. thanks to all the help from this site but I now have a new problem which I hope someone can advise me on

 

I have a loan with Barclays which has been off my credit file for some time but on just checking my file it is back on

 

I was unable to maintain payments to the loan and started paying a reduced sum from around 2003

- payments have always been maintained but at a very reduced rate

(have checked and the debt is enforceable

- even got a copy of the signed agreement when I made a subject access request some time ago

 

The new information on my credit file shows date account was opened which is correct

- an opening balance which looks like it must be the current balance and not original loan amount

- also shows the original payments due when the account was opened and shows green O.K. for July and August

- so does not show that this account was defaulted many years ago or that I have been paying reduced amounts

 

I am not sure what to do about this

- I thought once a debt came off your file it could not go back on but perhaps I am wrong ?

 

Any advice please

- my credit file has improved vastly in the last 2 years and now it looks like I am heading back to square one Thanks!

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Hi thanks for your reply - I have been checking through papers but can't find anything in the Barclays subject access stuff

 

I thought this had been defaulted but can't find anything to confirm - there was so many defaults flying around at the tiime 'cos of health&financial problems but can't definitely remember whether this account was one of the defaulted ones

 

I assumed it had been defaulted and fallen off my credit file as I started checking my file two years ago and this is the first time it has showed up - just seems really weird that no account information posted for two years (possibly more) and then it suddenly appears and showing status O.K. - is that normal? Thanks for any help you can give.

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  • 3 weeks later...

Hi hoping someone can help me on this

 

Just found letter from Barclays in response to old CCA request which says

 

..... This figure represents the amount demanded of you in ...2003

 

I am assuming that this refers to a default notice and that I need to contact Barclays about this being back on my credit file but would appreciate any advice Thanks!

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if you've proof they defaulted the loan in 2003 then send them a copy and ask why its now back on your credit file

when it shouldn't be showing as the default is +6yrs old.

 

 

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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Indeed, you need to establish that they did actually default the account. If they didn't and you simply entered into an arrangement to pay, then the reporting will likely continue until the debt is repaid.

 

IMHO, this is very wrong.

 

Within the SAR data there should have been a communication log/diary of events - that should show if a Default Notice was issued. If it was then the default reporting on the Credit Reference files should have started anything up to 6 months afterwards.

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

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I agree with DX's post #6 above.

 

Even if the bank failed to issue a formal DN, my understanding is that they should only report the account delinquency for approx 6 years from when you failed to maintain payments as required.

 

Complain to them in writing and let us know how they reply. Tell them you will not discuss the matter by phone and require their written response.

 

:-)

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Hi Everyone thanks for your replies - sorry for the delay in replying

 

Had another look at the SAR stuff but can't find anything that specificially says default notice was issued but the information provided is a bit sketchy - there is a reference to 'write off' - not sure if that means anything?

 

I will write to Barclays and let you know how I get on - it's just weird that this account has not been on my credit file for quite a while and now is back on - is that normal? - wondered if moving from payplan to doing own DMP about a year ago might somehow have triggered it ?

Thanks for all your help

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Write off usually means they have sold/assigned the account to a 3rd party Debt Purchaser. In theory, they should have issued a default notice - defaulted the account prior to the sale.

 

I remember a couple of years ago, Barclayshark wrote to people advising them of the date of their default. I think because they recognised that they had incorrectly defaulted people by using Mercers (subsidiary) to do this when not permitted.

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Hi the account is with Barclays Recoveries - would they default to move it to recoveries? - always think it has been within Barclays

Got the date of demand in a letter after a CCA request but it did not actualy say it was a default demand Thanks

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Hi B733,

 

Just get your complaint off to Barclays asap.

 

There's no need to guess WHY the account is back showing on your CRA files. You just need to complain that is IS back showing, and that it must be removed immediately to stop further damage to your reputation or you will take action against the bank.

 

:-)

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This has been caused by an apparent system fault at Barclays.

Old defaulted accounts and accounts that have been satisfied by Full and finalicon settlements have been getting reported once again to CRAs.

Barclays say they will be contacting all those affected by this problem.

You'll possibly be in line for some compensation as well.

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This has been caused by an apparent system fault at Barclays.

Old defaulted accounts and accounts that have been satisfied by Full and finalicon settlements have been getting reported once again to CRAs.

Barclays say they will be contacting all those affected by this problem.

You'll possibly be in line for some compensation as well.

 

nice one i hope i do to :-)

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Hi Florish,

 

As long as you're happy ............. :whoo:

 

Thread titled amended to reflect your win.

 

:-)

We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

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