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bandonbhoy

Removing 'satisfied' title on credit record

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six years ago I lost my wallet containing amongst other things a Barclaycard.

 

within hours I had telephoned and emailed banks including barclay card

/ got email, back from them telling me I had to write and inform them that way.

my balance was about 200.

 

Didn't get any inform from them but noticed my monthly charges, were being constantly added.

 

I was paying minimum amount by direct debit.

 

Until last year when I stopped this payment.

 

The account was now over 700 and they say its now been passed to westcot. what should I do?

 

write and ask for SAR showing email and phone call and letter informing them of my news to them?

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Hi,

 

I've moved this thread to the debt collectors forum.

 

Regards,

 

Scott.


 
 

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If in doubt, you should seek the opinion of a Qualified Professional.

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as it is going to be all just charges you need a CCA request to Westcott's when they contact you and a statement of account to Barclays. I bet they owe you a few quid rather than you owing them.

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Hi Bandonbhoy,

 

If you don't have all the statements or data to show how the balance was arrived at, you need to send BC an SAR using the Library Template letter.

 

If you were only making minimum pay'ts each month, the balance may have been increasing due to monthly interest.

 

But you need to see what penalty charges have been applied. You can reclaim these along with compound interest but, to get this, you will need to take court action against Barclays Bank PLC t/a Barclaycard.

 

Did you send BC a letter confirming the loss of the card, when they requested ?

 

:-)


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Yes. It was two weeks before Christmas.

 

 

I was spending Christmas in Ireland and had to go there without my normal bank card.

 

 

When I came back in the new year I received a replacement bank cards but there was nothing in mail from BC.

 

 

I will send another letter today requesting SAR and hopefully that will contain the email and copy if the letter

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Hi Bandonbhoy,

 

......... and hopefully that will contain the email and copy if the letter

 

Sorry but are you saying you wrote to them either by letter and/or email after the loss of the card.

 

Yes, get the SAR off asap.

 

:-)


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I had a barclaycard with ceiling of about 250, of which I had used 200.

 

Then in December 2008 my wallet dropped out of my pocket on bus journey.

 

Within 30 minutes at home I realised this. Included in wallet was barclaycard. I immediately phoned them giving notice of my loss. I was told to email and write letter. Thus I did again immediately. Then silence.

 

No contact from barclaycard. I had set up direct debit with my bank to pay the minimum amount that barclaycard informed them of. Statements came in within period of time with interest added, the amount owing went over 250 so additional charges were added.

 

All the time minimum payment was made. The amount owing grew larger and larger until it reached 750? I cancelled the minimum payment order since I had counted that I had paid about 400.. I the wrote letter last summer outlining that I had had no contact from barclaycard despite writing the above letters and two other additional ones.

 

I received letter from barclaycard apologising and offering me cheques for 50, cancelling all the other charges, and also stating that my account would be "....settled in full as of today's date". I thought this was acceptable .

 

However barclaycard have put the title 'satisfied' on my closed account with them and thus satisfied has reduced my credit score. I wrote to them and complained but a different representative replied refusing to use the words that I had accepted. I would not have accepted their closure had they used the words 'satisfied'. What should I do? Raise concern with Financial Ombudsman?. They have replied that they sent me letters and also replacement card. I never received any such correspondence.

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A settled account is derogatory while a satisfied account is viewed more positively.A settled account means that you have come to a negotiated settlement with the lender that is less than the original repayment terms of the loan. Once the settlement has been reached, the lender will update your credit file with the words ‘account settled.’ Such a reference in a credit file is a bad mark. The term “settled” implies that you did not meet the full terms of the loan. Failing to properly negotiate your collection can drop your credit score even more.

 

Regards

 

Andy


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Thank you Andy. That's exactly it.the actual qot in letter is as follows;

"As your account balance is now zero, I have arranged for your credit file to be updated to reflect that the account has been settled in full as of today's date"

 

So they then put satisfied on to my credit file. I accepted their letter saying words settled, but would have rejected the words satisfied.

 

So should I complain further and to whom?

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old and new threads merged

 

 

dx


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

 

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Thank you Andy. That's exactly it.the actual qot in letter is as follows;

"As your account balance is now zero, I have arranged for your credit file to be updated to reflect that the account has been settled in full as of today's date"

 

So they then put satisfied on to my credit file. I accepted their letter saying words settled, but would have rejected the words satisfied.

 

So should I complain further and to whom?

 

Read my last post again...slowly...you dont want settled...satisfied is far better for your CRAs


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Don't think so.

 

 

You have the words round wrong way.

 

 

I have seven closed accounts which have never been defaulted and have settled against them.

But one, the Barclaycard has satisfied where I met difficulties.

 

 

All of the six have OKS against each month then ST at last month.

 

 

Barclaycard also has ST at last month after all OK's then satisfied.

Their letter said settled

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