Payday Loans about to be statute barred - query over default date (SCOTLAND)

[misselle]

For information I'm in Scotland.

 

I have two Payday loans with Lending Stream which are about to become statute barred in a few months time.

 

The problem I have is that I've been checking my credit scores

and there is one default registered by LS on my noddle report which is all well and good

and won't fall off until next year which is fine but

 

I checked my Experian account today and discovered two defaults by LS

but the date of the defaults are 2015.

 

I've had no contact with LS since I defaulted in 2011

in fact I heard nothing from them until 2014

and have since then periodically received emails saying my accounts going to be passed to a debt collector

or more recently the correspondence has ramped up with various settlement offers,

 

I suspect this is due to it going statute barred soon.

 

Now my query is what do I do about the default dates?

 

If I contact LS now then that resets the clock on the SB

but if I don't then effectively its going to have a negative impact on my credit rating for another 5 years

meaning I won't stand a chance of getting a mortgage in the next two years as I had planned

 

I've been in default since 2011

so I've no idea where they plucked the 2015 date from

but it's certainly the same loans as the default amount matches up

 

So what do I do?

Edited February 25, 2016 by citizenB
formatting

[citizenB]

Are these Default markers just made up to date or does it specifically state that the Default Date is 2015 ?

 

 

If you made your last payment in 2011, I am not sure they can simply hold off adding a default marker for nearly 5 years ? I will ask others to look in on you.

[fkofilee]

Okay so Im guessing this is Noddle with the DD of 2011... PDL have been reporting to Callcredit for a long time on these types of loans, however they only recently started to report onto the other 2 CRAs... and in turn they have been getting away with doing this.

The information reported across all 3 CRAs should be consistent.

 

The ICO is realtively clear on defaults. It should ideally be registered between 28 days and 6 months after default. (At extreme 6 months)

IMHO you should either complain direct to LS or raise a dispute with shows the Default Date on the Noddle CRA

[misselle]

Thank you for the replies,

yes the default is registered as having defaulted date of 2015 which is incorrect

and obviously to my detriment.

 

 

I'll try initially raising a dispute with callcredit first and see if they will change the dates,

to be honest I'm shocked at how different the reports from callcredit and noddle are,

some show defaults that the others don't.

All from payday loans.

 

 

I'm trying to get my finances in order at the moment

with the consideration of making complaints about irresponsible lending,

 

 

at the point I had 6 different loans from 6 different companies at the one time

which lead to my financial downfall.

 

 

I am wary of kicking the hornets nest though as I do have outstanding balances

which again are due to become SB soon but

 

 

if there's a chance I could get the defaults removed and at least interest written off

then it might be worth my while.

 

 

Are there chances of having the defaults removed and a possible outstanding balance wiped?

[fkofilee]

Look at my signature... See if any applies in link 3....

[misselle]

Thank you for the links,

 

 

I meet several of the criteria for irresponsible lending for pretty much all of my Payday loans.

 

 

Looks like tonight is going to be spent going through bank statements seeing how much I've received,

when and how much I've paid back.

I know it's in the region of Thousands.

 

 

I've been so stupid and it just got out of control,

thank fully I've never touched nor considered another payday loan since 2011.

 

 

Worst mistake I ever made was getting into that cycle it almost caused me to lose my home

 

 

As part of my complaint can I ask that any defaults be removed from my file?

[dx100uk]

probably yes