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cap one and defaults

sally29
Posts: 48 Forumite
hi
i have been paying £50 a month as agreed with Capitalone credit card for months now, just after xmas i got a letter saying my account had defaulted, then they regitered a default on my credit reference, i
i wrote to them telling them about the agreement and they wrote back saying ok carry on paying 50.
what i want to know is can i ask them to remove the default on my credit file. thanks
i have been paying £50 a month as agreed with Capitalone credit card for months now, just after xmas i got a letter saying my account had defaulted, then they regitered a default on my credit reference, i
i wrote to them telling them about the agreement and they wrote back saying ok carry on paying 50.
what i want to know is can i ask them to remove the default on my credit file. thanks
0
Comments
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hi
i have been paying £50 a month as agreed with Capitalone credit card for months now, just after xmas i got a letter saying my account had defaulted, then they regitered a default on my credit reference, i
i wrote to them telling them about the agreement and they wrote back saying ok carry on paying 50.
what i want to know is can i ask them to remove the default on my credit file. thanks
I started a DMP, and only one creditor actually registered a default, which they said was normal practice for them, even though I had not missed a payment even prior to my DMP and the amount I was paying under the arrangement was 75% of the minimum payment - but as I was no longer making the full contractual payment, they had a right to ( unfortunately).
Someone else probably knows the legal side of things - this was just my experience[STRIKE]DFW Nerd number 729[/STRIKE]Debt Free & Proud0 -
Believe it or not, I am actually on the same payment plan with Cap One. £50 per month. I've been on it for about 16 months now, about 2 month ago I received the same letter as yourself, a notice of default.
I also had not missed any payments whilst on the plan, so I called Capital One to ask why I had been served this default.
They said it was now government legislation for anyone on a reduced payment plan to be sent a default notice. This was due to the fact the terms of the agreement had been broken (due to minimum payments not being met).
Obviously a default is linked to your credit file, but it's not something to worry about as with regards to Capital One chasing you for the debt.
:cool:Capital ONE :£2,208.00 (£50.00 pm) . Welcome Finance £4,588.10 (£99.90 pm) . Black Horse Finance £1,882.52 (£84.00 pm) . Owing to Parents £5,000 (£140 pm) .TOTAL: [strike]£14,126.56 [/strike] £13,678.62'Proud To Be Dealing With My Debts'The Official DFW Nerd Club : Member 11380 -
thanks for the replys,
is it true that it is goverment legistation to add as a default ? it seems unfair when i have been paying and it will be finished in nov to add a default. how long do defaults last on your credit file,
thanks in advance0 -
thanks for the replys,
is it true that it is goverment legistation to add as a default ? it seems unfair when i have been paying and it will be finished in nov to add a default. how long do defaults last on your credit file,
thanks in advance
And I do not believe that it is government legislation - I think it is purely down to the individual creditor. Most of my creditors have not issued defaults, even though I was paying a reduced amount.[STRIKE]DFW Nerd number 729[/STRIKE]Debt Free & Proud0 -
thanks for the replys, is there anything i can do to get them to remove the default, as i am on a plan agreed with them.0
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No - They we're entitled to issue a default so it will stay.
They've defaulted me recently aswell, but have confirmed they are still ok to continue making reduced payments. It's just one of those things - If you make reduced payments, defaults are likely whether these payments are agreed or not.LBM : March 2008
Debt Free Date : 25th July 2012
DMP Mutual Support Thread: #170
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