Asset Collections and Investigations an old Avant Loan- CRA Reporting

[king_olaf]

Hi Folks

I have received the below Mail from ACI regarding CRA reporting.  I have been in a payment arrangment with them for a number of years for an Avant Credit account that they purchased.

 

---------

 

Notice of intention to report to Credit Reference Agencies

 

We are about to report the default status of your account(s) to the Credit References Agencies (CRA’s) and plan to start this within the next 30 days. The purpose of this communication is to let you know in advance so that you know what this means and to give you time to act.
 

Can this be prevented?

 

Yes - if you are in a position to clear the balance on your account(s) within the next 30 days, we will not register your account(s) with the CRA’s.

If your current circumstances do not allow you to clear the balance in full, we are open to considering all reasonable offers of settlement. Please contact us to discuss on 01253 531517.

If you settle your account, in part or full, after the default has been registered at the CRA’s, the default will remain visible on your credit file for up to six years. However, the default will reflect that you have settled your account, which lenders may look at more favourably than a default with an active balance.

 

What does this mean?

 

We will provide the CRA’s with information on any defaults and settlements with regards to your account(s) with us.

A default will remain visible on your credit file for 6 years from the original date of default. For the avoidance of doubt, this 6-year time frame is not being restarted by this action which is simply the registering of the original default at the CRA’s. Once registered, the default will remain on your credit file for 6 years from the date the original creditor defaulted your account.

If you are unable to repay the full outstanding balance or make us a reasonable settlement offer, please call us to discuss the other options available to you.

 

-------------

 

Is this acceptable for them to start reporting a default now? The original creditor sold the account on when I got into payment issues a number of years ago (2017), but never defaulted the account with the CRAs. 

 

They currently do not report anything to the CRAs - so now looks like they are happy to report a default but won't be reporting on payment history!

[dx100uk]

So an old pdl or a telecomm account?

 

They can't report a D (as such) ..not even to the calendar section.. they can only rack up the late payment markers 1'2'3 etc..which no-one bar the debt owner and you can see.

 

They are not the original 'creditor ' so can't issue a default notice under section 87 of the cca. Thus register a defaulted date.

 

Are you paying? Whats the payment history bit about if you are not?

 

 

[king_olaf]

It's an Avant Credit account, was a 2 or 3 year loan for about 3 grand. It has been sold to ACI.  As they have purchased the debt would that allow them to register the default?

 

I am paying yes and have been for a few years.  I suspect the payment references are just part of a template E-Mail. 

[dx100uk]

did you ever try IRL complaint with this one? and Avant CCA's were notoriously faulty, have you ever sent a CCa request? thats usually why Avant sold the debt on..

 

dx

 

[king_olaf]

Interesting. So if they went ahead and did this, then I guess it's complaint time.  FOS? ICO?

 

FOS rejected IRL on this one.  Have never CCA'd it though.  Might be worth a punt on it.

[dx100uk]

Did what?

[king_olaf]

Did add the default marker as they are stating they will as per my original post.

[dx100uk]

big deal.

did you ever sar avant too and look ay the comms log to see if they did default? when did you take this loan out?

CCA time to ACI as well.

[king_olaf]

One minute you are saying they cannot do it, the next you are saying big deal.... which one is it?!

 

No I have never sent Avant a SAR request, loan was taken out in 2015 or 2016, I would have to go and check the paperwork on it.

Edited March 30, 2021 by king_olaf
additional information

[dx100uk]

you need to read carefully what i am saying ...

there is no link between a registered default date in the summary line of the debt which can only be put there by the original creditor following the issuance of a default notice under section 87 of the CCA and merely putting 1,2,3 etc or D in the calendar section.

 

i would suspect that back when you were paying avant directly the 1,2,3 had gone passed 6 so thus became a D, a debt buyer can only continue to put what the OC last recorded upon sale.

 

so this debt is not showing on your credit file or wasnt at all until recently?

 

 

 

 

 

[king_olaf]

This debt has not appeared on my credit file for years.  Just searched through the closed account history on my credit file and it shows the account was opened 26/01/2016 and was closed and paid 05/07/17.  This was when the account was sold to ACI. 

 

Even on that record there was no default showing, just a lot of no data markers, in fact it doesn't even shows a missed payment of which there were a number. It looks like when ACI purchased the debt they have never updated the credit file marker to show them as the owner.

 

 

[dx100uk]

sort of tallies then Avent didn't update any on going status, are there lots of U's or just nothing for the months leading up to the sale?

did they ever mark anything in the payment history from day one?

 

 

[king_olaf]

Across the whole 19 months shown on the file entry, there was 2 payments marked as ok (randomly), no missed payments, no defaulted.  The majority show as "No Data".  10 marked as no data leading up to when the account was sold.

[dx100uk]

send avant an sar 

prepare for IF IF IF ACI ever issue a letter of claim.

but they'll have a very hard job without evidence or a copy of the default notice under section 87 issued by the original creditor.

 

so these random payment markers...when was the last payment date please?

 

[king_olaf]

ACI won't issue a claim, I have been in a payment plan with them years. 

 

The last payment marker was back in 2016.

 

I will sort out a SAR to Avant