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  • FIRST POST
    • lekkon
    • By lekkon 15th Sep 17, 4:28 PM
    • 1Posts
    • 0Thanks
    lekkon
    When should a default be added to a credit record
    • #1
    • 15th Sep 17, 4:28 PM
    When should a default be added to a credit record 15th Sep 17 at 4:28 PM
    The loan for £100 taken out by me on 14/03/2013 and which remains unpaid. The balance presently stands at £218.00. The loan was made by TxtLoan Limited and that company transferred the debt to MYJAR Limited on 28/02/2015. My account is still not in default.
    That makes sense for me to put complain why this account is not default? If they make it default on 14/04/2013 - I will have clean credit score on 14/04/2019? (six years)
    http s://s26.postimg.org/y5epxvbyx/myjar3.png
Page 1
    • sourcrates
    • By sourcrates 15th Sep 17, 5:33 PM
    • 12,461 Posts
    • 11,855 Thanks
    sourcrates
    • #2
    • 15th Sep 17, 5:33 PM
    • #2
    • 15th Sep 17, 5:33 PM
    Hi,

    A creditor does not have to default you, there is no law that says you must default this person if they do X,Y,Z.

    Guidelines state that a default for non payment may be registered after between 3-6 missed contractual payments, remember, these are only guidelines, its still at the creditors discretion.

    If you feel that the creditor has treated you unfairly by not defaulting you, then put in a written complaint to that effect.

    If not satisfied with the outcome after 8 weeks, you can involve the ICO.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
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