Aqua or Vanquis card to rebuild credit rating?

noah271007

digitalphase wrote: »

I was concerned to read that a settled default is as bad as an unsettled default - if that is the case then why should we settle any default? May as well pay it off little by little for the 6 years

It annoys me as I could have really done with that £700 I've just spent clearing that credit card account. Surely it must be better to have settled it?

Hopefully the Vanquis card will help me back onto the right track, and in a few years I can try and get back into mainstream credit.

Luckily my boyfriend has a great credit score/history, which comes in handy

A very good point about default with outstanding balance/satisfied. I do think the latter deserve more attention. The only way really is to get the default removed. You can always ask the lender who placed the default to remove it, as it would make a big difference. The late adverse payments, if it is in the 3's or more, it would still be problematic.

digitalphase

Thanks Noah, I would really like to try and get the default removed as I don't believe I was issued the correct notice to make me aware it was happening. I checked my credit file in June 2008 and no mention of this debt was shown, never mind a default, but upon checking again in March 2009 I saw this debt on there with a default for the company who bought them out (Marbles card, bought out by Halifax so showing as a Halifax credit card) saying it defaulted 29/02/2008! Do you think I have a case because surely it should have been on there in June 2008 if that were true?
The whole thing has been a joke, I have numerous letters saying conflicting things and no one seems to have any idea of what has been going on with my account.

If I were to write to them to ask them to remove it, what should I say? Is there a template letter I can edit at all?

Thanks!

never-in-doubt

yes always a template letter mate.... brb with template for you.

was the default placed in error? also what company placed it...?

digitalphase

I think it was placed in error as I didn't get a letter saying I'd got one They have threatened me with a default quite a lot recently during my claim for charges going through the courts (their charges made up over 3/4 of the debt!) but I understood I was within my rights to not have to make payments while my account was in dispute and also that they were not allowed to add interest or default me. They did add interest but 'refunded' it when I paid it all off yesterday. The debt should be marked as settled at the end of this month.

The debt was a credit card with Marbles, and I've then had to deal with HFC Bank, HBOS, Halifax and HSBC as well. It's all very confusing. I was paying a company called Capquest at one point and Marbles had never even heard of them yet they were the ones who passed my file onto them.

hack2009

digitalphase wrote: »

I think it was placed in error as I didn't get a letter saying I'd got one They have threatened me with a default quite a lot recently during my claim for charges going through the courts (their charges made up over 3/4 of the debt!) but I understood I was within my rights to not have to make payments while my account was in dispute and also that they were not allowed to add interest or default me. They did add interest but 'refunded' it when I paid it all off yesterday. The debt should be marked as settled at the end of this month.

The debt was a credit card with Marbles, and I've then had to deal with HFC Bank, HBOS, Halifax and HSBC as well. It's all very confusing. I was paying a company called Capquest at one point and Marbles had never even heard of them yet they were the ones who passed my file onto them.

Are you saying that you defaulted on this account years ago, then all these years later they add the default on your file???

never-in-doubt

digitalphase wrote: »

I think it was placed in error as I didn't get a letter saying I'd got one They have threatened me with a default quite a lot recently during my claim for charges going through the courts (their charges made up over 3/4 of the debt!) but I understood I was within my rights to not have to make payments while my account was in dispute and also that they were not allowed to add interest or default me. They did add interest but 'refunded' it when I paid it all off yesterday. The debt should be marked as settled at the end of this month.

The debt was a credit card with Marbles, and I've then had to deal with HFC Bank, HBOS, Halifax and HSBC as well. It's all very confusing. I was paying a company called Capquest at one point and Marbles had never even heard of them yet they were the ones who passed my file onto them.

Yes Marbles has been bought out a few times... can you please elaborate specifically what has happened as you may have a case to get it removed - especially if they have added a default years later. Remember if you never paid for 6yrs then it becomes statute barred and after 6yrs of default date, it must be removed.

Please come back and clarify your exact position for us, we will be able to help...

digitalphase

I did make another thread about it, but was shot down

Anyway I got my Marbles credit card in 2004 at some point and it was fine for a couple of years, but a combination of me being out of a regular job and then becoming a full time student got me into trouble with charges. They weren't helpful at all and even though I explained my position and that I could only pay a small amount each month, they still added a late payment fee and an overlimit fee.
I remember that I was paying them regularly when all of a sudden Capquest started sending me letters demanding payment. I had no idea who they were, but they explained they had bought my debt from Marbles as Marbles had been bought out.
I was paying Capquest around £60 a month as they were very nasty otherwise but decided to try and claim back my charges after I worked out that they made up over 3/4 of the debt. Capquest gave my account back to Marbles after I asked for proof that they had bought the debt.
Throughout this time I kept Marbles informed, sending the template letters to their official address. They kept sending me letters from other offices around the country with Marbles at the top of the letter. I had to send out my court claim letter twice to make sure they received it as no one had any idea what their official address was. I took it that it was a Halifax (as in the place) address as that's where the majority of the letters came from. I've had lots of threats of defaults during my claim and a letter saying that I had been given one, but I know they are not allowed to do this while my account is in dispute. I told them this over the telephone and via letter, they know it was wrong as they'd go quiet or ask a different question. They put interest on the debt when they knew they shouldn't have, but they did refund it.

I don't understand why, if I defaulted in February 2008, why it wasn't on my credit file when I checked in June? There was no mention of Marbles/HFC/Halifax/HBOS on there for a credit card.

The stupid thing is it wasn't a large debt if they hadn't added loads of charges, and I could have easily paid it back if they hadn't kept adding interest and charges. It really bugs me that they've put this default on there. If I'd have known I was getting a default I'd have phoned them and come to an arrangement.

dawnie1972

digitalphase wrote: »

I was concerned to read that a settled default is as bad as an unsettled default - if that is the case then why should we settle any default? May as well pay it off little by little for the 6 years

I was once advised to just let my defaults sit there and ride it out for the 6 years because also apparently the minute you make contact with them the 6 yrs starts all over again.
I'm just waiting for my credit file as, if my calculations are correct then my CCJ and the defaults i had will have come off as the 6yrs is up, i think there may be 1 or 2 defaults still on there but that's it - would i be able to get a vanquis or Aqua card - i applied for aqua and am waiting to hear from them - if i've got defaults and not on the electoral role will i be declined.

digitalphase

Dawnie, yes for Vanquis I'd say as I have been accepted with one default on there and it isn't even marked as settled yet as I only settled it a couple of days ago.

I've read that the 6 years starts from when the debt is paid off.

xgingerx

digitalphase wrote: »

Dawnie, yes for Vanquis I'd say as I have been accepted with one default on there and it isn't even marked as settled yet as I only settled it a couple of days ago.

I've read that the 6 years starts from when the debt is paid off.

Hi, just to let you know the default drops off your file 6 years from the date of the default , not from when you paid it off. This is fact as per my own experiance and also the credit expert (CRA) website.

So it will be removed after six years whether u paid the debt or not
hope this helps