cap one and defaults

sally29

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

Miss_Marple_2

sally29 wrote: »

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 am assuming that £50 is less than the contractually agreed payment ? In which case, I think they are entitled to add a default.

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

Lucascain_2

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:

sally29

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

Miss_Marple_2

sally29 wrote: »

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

It lasts for 6 years.

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.

sally29

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.

Tigert

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.