Ok Now Im Confused (Credit File)

GameOver_2

Hi

File Wizard will probably be the best with this question, but if anyone else can add anything, please do by all means.

Remember an old post i made about my car finance for 5500 pounds (my biggest debt), i even took a screenie of my credit file with the debt on, because they had not contacted me for 2/3 years (since they took the car away), well, they sold the car, and it left me with 5500 pounds debt, which has always been on my credit file (but not defaulted), just no updated for 2/3 years, plus, i have not heard from them in that 2/3 years, you guys told me "not to wake a sleeping beast", well, i didnt, i did not contact them.

Ive just got an Email saying a change has happened to my Equifax credit file, i have 12 credit agreements (it was 13 an hour ago), and my biggest debt of 5500 pounds has been totally removed from my credit file, why?

Is there a small, tiny ray of hope that they lost me in the system, or simply gave up on me and removed the entire account from my credit file?

Can/will they re-enter the debt on my file?

What on earth has happened, if i have somehow got lucky with this one, i will pay the other few thousand off and be debt free, but i dont want to jump ahead of myself with excitement here.........

Thanks

Matt :xmassign:

GameOver_2

What do you guys reckon?

file_wizzard

GameOver wrote:

Is there a small, tiny ray of hope that they lost me in the system, or simply gave up on me and removed the entire account from my credit file?

Is more likely they have now sold the debt to a DCA and the default will be re-submitted under the DCA's name

GameOver wrote:

Can/will they re-enter the debt on my file?

Yes see above

GameOver wrote:

What on earth has happened, if I have somehow got lucky with this one, i will pay the other few thousand off and be debt free, but I don’t want to jump ahead of myself with excitement here.........

Just because the debt is not currently shown on your file dose not mean that it is not owed, the original creditor, or a succession of DCA's can, and probably will continue to chase this debt for as long as they can.

Pay the debt, or at least what you can afford to

GameOver_2

They sold me a dodgy car that was not road worthy, and lied about the APR, im not in a hurry to pay the debt. And i wont, as i dont have 5500 pounds, they sold me the car for 7k (10k with interest), then sold it for 2k at an auction, leaving me with 5k debt.

A new company has to send me a letter of notice or something though dont they for a default to go on? Ive not heard from this debt in years, and with another debt, a DCA has gone on there, and the original creditor remains on there too, so im shocked at this finance company have removed them selves completely.

What do i do if an un-known DCA register a default on my file? Ive not signed anything with them, i wont have any notice, and does the 6 years reset?

I dont feel im getting the best advice because i dont want to pay the debt, the debts are the reason i now have anxiety and depression, what can i do? Im trying to clean my file up.

Thanks

Matt

file_wizzard

GameOver wrote:

A new company has to send me a letter of notice or something though dont they for a default to go on? Ive not heard from this debt in years, and with another debt, a DCA has gone on there, and the original creditor remains on there too, so im shocked at this finance company have removed them selves completely.

The original creditor will have to inform you that the debt has been legally assigned to a DCA / other 3rd party.

GameOver wrote:

What do i do if an un-known DCA register a default on my file? Ive not signed anything with them, i wont have any notice, and does the 6 years reset?.

Nothing you can do about it, you do not need to sign anything with the DCA, when you signed the original credit agreement it would of been part of the standard T&C's that the debt could be transferred to 3rd party, you have in effect already signed to say you accept this process.

GameOver wrote:

I dont feel im getting the best advice because i dont want to pay the debt, the debts are the reason i now have anxiety and depression, what can i do? Im trying to clean my file up.

No one wants to pay debts, but we take on the obligation when we chose to finance purchases via Credit. The best way to resolve your current anxiety as you have been advised many times before is to face up to your responsibility’s, pay your debts and know that you are living debt free.

Sorry to sound harsh, but that’s the way it is

GameOver_2

Is there not a chance that they just gave up and took the account off my credit file?

tattooed_lady

GameOver wrote:

Is there not a chance that they just gave up and took the account off my credit file?

Is the date of default 6 years old? If so then it would have dropped off naturally as they all stay on your file for 6 years. I don't think a company can take a debt off your file to be honest with you, it's more likely that it's just dropped off after the relevant amount of time.

micheleen

Was this with Direct Auto Finance ? If so then clicking on their website takes you to Yes Car Credit who are (allegedly ) a complete bunch of shysters.
If it was YCC you may get more specific help from the saynotoyes forum

file_wizzard

ruyareece wrote:

Is the date of default 6 years old? If so then it would have dropped off naturally as they all stay on your file for 6 years. I don't think a company can take a debt off your file to be honest with you, it's more likely that it's just dropped off after the relevant amount of time.

Just as general info the data controller can chose to take the data off at any point they see fit, there is no legal obligation to publish credit data, it is an industry "scheme" to protect other companies from risk exposure.

Also it is worth noting that the Credit reference agency’s are only the publishers of the data, they therefore have limited control of the content as this is controlled directly by their clients who provide the information to be published.

GameOver_2

Thanks guys.

The debt was only 4 years old, i made all my payments until 12 months later i lost work and they took the car away, then they didnt contact me for 3 years.

Not only that, they did NOT update my credit file for the 3 years they did not contact me, my file just said N/A or something, for not updated, now all of a sudden the whole account is not there anymore.

The account was never defaulted, it was "0" for perfect payments, then straight onto N/A for 3 years, now its gone (4th year).

Oh please god say its gone lol, if thats gone, im so motivated to pay all my other debts off. If it comes back with a DCA i may cry!

Matt

GameOver_2

Still nothing on my file!