Should I do anything, or just be patient.

[flooz]

I have an old loan with a bank (who didn't keep any loan agreement),

on which I have not made a payment for over 6 years.

 

 

I've been checking Noddle for the last few months to see when the debt will drop off, but it hasn't yet.

On looking further, I've noticed that for the first 6 months of non payment, nothing was entered on the credit file,

the first entry is 6 months after my last payment, and says that payments are 6 months in arrears.

There is 2 months till that first entry is also 6 years old.

 

My question is,

I guess, should I just be patient for another 2 months and wait for the entry to drop off,

or should I question the fact that this loan should already have been removed?

[mikeymack2002]

Just keep and eye on it and don't go poking a sleeping devil.

[flooz]

Just keep and eye on it and don't go poking a sleeping devil.

 

Thanks Mikey, that's my gut instinct, although I'm a little concerned that the bank maybe using loopholes to stretch out the damage to my credit score - this is the only detrimental thing I have.

[mikeymack2002]

This is what happens when it's close to being statute barred or they are thinking of selling the debt. It will make you panicking and contact them.

 

Check your credit file to see what the score is for a fuller picture. It will show when the debt was defaulted and whom owns it. You should investigate when the last payment was made for sure.

 

Don't go calling them or anything silly lime that. Play the waiting game and see what they come up with next. Then come back and update or seek further advice ok?

[flooz]

Thanks again Mikey. I'll play the waiting game. Meanwhile, I'll try and check when my last payment was, but I'm reasonably sure it was October 2009. I closed my current account with them at the same time, so simply checking when I opened the bank account I now use will give me a pretty accurate date.

[flooz]

I've just checked through my paperwork, and the last payment I made was, indeed, in October 2009, so this loan should already be statute barred. They have sent several letters to me since, none of which I have acknowledged, there is even a 'crafty' one, intimating that I contacted them with a 'complaint' (which I didn't). So, as I understand things, they should not have been putting 'late payment' notes on my credit reference file for the last 6 months - but they have.

[ericsbrother]

SB clock will start when the next payment was due and missed so generally a month after the last acknowledged payment. So, if paid in Oct 2009 then the clock would start Nov at earliest Dec at latest. However most companies dont formally default until they run out of other collection or correspondence options. makes sense if you think about it otherwise everyon epaying their electric on a quarterly bill will be defaulted for 2 months at a time. NPower probably do this on their new computer system anyway.

[merlin100]

I would take a screenshot of that first entry on your credit file where it says payments are already six months late. Might come in handy for any SB arguments that might arise in the next few months.

[flooz]

I've gone through my paperwork, and not sure if I've made a faux pas or not.

 

They wrote to me in 2011, saying they were investigating my complaint (which I hadn't made), and I responded with an 'account in dispute letter', and enclosing a copy of my original letter CCA letter from 2009.

 

There was no acknowledgement of the loan within that letter,

do you think they are treating it as so?

 

In which case, I have another year of this.

 

Although it is now 6 years since the first 'late payment' notice on my credit file.

[flooz]

Coming back for more advice please. This bank is still making 'late payment' marks on my credit file. It is now 7 years since the last payment was made!

 

Does it make a difference that they are only marking 'late payment' as opposed to 'default'? As this is the only detrimental mark on my credit report, I'm really looking forward to getting rid of it?

 

What can I do please, if anything?

[martin2006]

Write a complaint to the Information Commissioner's Office.

[flooz]

Thank you Martin.

Do you know if there is a standard format for such a letter?

 

Also, is it relevant that I responded to a letter in 2011, providing them with the original 'account in dispute' letter of 2009/2010?

(Sorry, can't remember the exact date without going through piles of paperwork).

[martin2006]

No theres no template, every case is very different, simply write an account of events with a timeline, in chronolgical order, that will suffice.

Attach copies of any evidence supporting your complaint.

[flooz]

Does my letter of 2011 have any relevance?

[dx100uk]

No not toward acking the debt

But it backs you up when you complained and stopped paying

[ericsbrother]

the banks are using this wheeze to stretch out the time as long as they can before it becomes SB.

they will claim that they are still trying to resolve the matter and that is why it isnt in default.

 

 

They have been warned by the ICO that this excuse isnt allowable and that a default date should reflect the reality of the situation.

 

 

Same goes where customers have moved house,

the banks claim to be actively looking for them when it isnt so.

Abuse of process