Default notice on Credit Report

[phil24b]

looking from some advice, I'll explain the situation before I write my question:

 

I had a loan with egg for £25k, I defaulted on the load in 2004 (balance owing £21k) and it got handed over to a 3rd party. I have been paying them every month for the last 3 years and the debt is now down to £11k

 

The problem is that Egg have put a defualted notice on my credited history for that loan in 2004, and its killing my credit score!

 

I have called them to ask if that can be changed, or if they can reflect that iam paying it back so that lenders dont look at me and think I owe them £21k!!

 

they said they will only amend it to satisifed when the amount is cleared with the 3rd party! but thats not for another 2.5 years! I may aswell have declared myself bankrupt in 2004 if i knew this was going to be the state od my credit rating!

 

Can I get them to change the credit entry on my record?

[gizmo111]

Basically you can't get them to change the fact that you defaulted - this will remain on your creidt record for 6 years. It should show amount defaulted and when it is updated every month should show the balance outstanding. So defaulted 21K - balance 11k.

[bigkacker]

You may be in luck. I have heard that many lenders prior to mid 2005 did not keep their paperwork upto date when it came to default notices.

 

Write to them asking for a copy of the original default notice together with the original agreement.

 

There is a website on here that will tell you how to do this. If they can't provide you with the original default notice then they have to remove it.

 

Good luck.

[taff999]

great post bigkacker any idea where i can find this?

[cheddar]

Letter N http://www.consumeractiongroup.co.uk/forum/general-debt/20758-creditors-dcas-letter-templates.html

 

Although I don't know if this means the default can be removed....

[phil24b]

Bit of an update on this one, I'm planning on sending out the letter on the link provided by Cheddar (thanks for that)

 

But I also noticed that the payment amount and length of term that egg have for me on my Credit report is half of what I actually pay, with a time frame of 12 years!....where as the debt is forcast to be cleared within 2 years assuming i continue what I have been playing for the last 3 years!

 

I called Egg today to ask them to change it, but they said they cant as this what was agreed with the 3rd party collection ppl at the time of default and they will only change it when the debt is cleared.

 

surely their lying?

[phil24b]

bump for any of the daytime forumers

[kennyparkroad]

try not to deal with them in the phone, stop all payments, your defaulted anyway, send them the SAC, and REFUSE to deal with them on the phone, ask for all correspondance to be in black and white, this way you have a come back later on.

 

 

I am currently going through this myself, i asked for my original and true signed credit agreement back in December with Blair Oliver and Scott (who i owe £5000) and a catalogue, had no response off either, so i have now sent them the non compliance letter, and given them 12 workin days or i refer it further and accept NO debt as they did not get back to me in the satisfatory and statutory time limit (28 working days)

 

Does this sound like im going along the right track?

[phil24b]

what does it mean if they cant provide my original and true signed credit agreement??

[kennyparkroad]

then the agreement is void and they have to take it off your credit record, if they cannot produce anything with your name signed on it, then they cannot enforce chasing the debt

[phil24b]

and therefore you dont have to contiune to pay? or that they just have to remove the default notice?

[moora moo]

Just having a nose on the forum...would this apply to mobile phone contracts as well? I never signed anything it was all done via internet..I checked my credit report three weeks ago and I had a default for not paying £7 !!!

[phil24b]

I'll send of the letter and see what happens, but if they cant produce my credit agreement. the fact that i paid it for the last 4 years shows I owed them money. would a court not pull me up on that?

[phil24b]

This had been bugging me all evening. Lets say Egg cant produce a copy of my original credit agreement, what position does this leave me in?

 

Does it mean they have to remove my default notice? does it mean I can stop paying my debt back to the collections people as they cant proove i took credit with them?

 

I've had a nose around the site to get some more info but cant find anything

[kennyparkroad]

if they cant provide the agreement, they cant enforce the debt and have no choice but to take it off the credit record and therefore cant take anymore money off you

 

applies with all credit agreements.

[fairmorn308]

Similar to my story

 

DCA gave me a default for 2003 for a debt with a credit card company. Can they do this? i never signed anything with this DCA and never seen a default notice.

 

can i get this removed?

[debtkiller]

Default notices are a pain. In my experience companies will never remove them unless forced to. An example I sent a CCA request to a Credit Card company that had defaulted me, they then wrote back to me and said they could not give me a signed copy of my agreement (although they did give me a copy of my application form). When I argued about this they wrote off my balance and marked my credit file as "satisfied" but the default still remains and they refuse to remove it. I have now put it in the hands of the Data Commisioner and hope they can force the issue. The Financial Ombudsman can also do the same, but both are a time consuming excersise.

 

Good luck in getting it removed.

[fairmorn308]

Default notices are a pain. In my experience companies will never remove them unless forced to. An example I sent a CCA request to a Credit Card company that had defaulted me, they then wrote back to me and said they could not give me a signed copy of my agreement (although they did give me a copy of my application form). When I argued about this they wrote off my balance and marked my credit file as "satisfied" but the default still remains and they refuse to remove it. I have now put it in the hands of the Data Commisioner and hope they can force the issue. The Financial Ombudsman can also do the same, but both are a time consuming excersise.

 

Good luck in getting it removed.

 

Well i already have capital one in court at the moment which the debt started with so could i say i will only accept settlement if defualt is removed?

[bubbles01]

Does anyone have any ideas as to what steps can be taken to remove a default notice on a credit report. Especially if there is no debt outstanding and it states that the debt is satisfied on your credit file.

[granthar]

see the following link about removing a default notice

 

Remove Default Notices on a Credit File - We show you how

 

It is a long process, however a lot less than six years

[perfectpete]

Can anyone help, i gained the 2x default ref numbers off Credit expert and the address to write to.

 

I started the letter template situation to remove the defaults and sent the first 2 letters recorded delivery. In the first letter i sent a Bank Cheque for £1 to cover the admin which they cashed.

 

But to date still no responce at all to my letters does anyone know what to do in this situaltion.

 

Many Thanks Peter ps the bank in question is RBS