GE MONEY and Viking collections

ANDY-pandy_5

Hello,

I have had a GE money edge store card for about 4 years now. During the last 4 months especially things got hard and i started ignoring mail. most of my other committments got paid however this one slipped under the rader and it would appear ive missed payments in july august and now september. Having opened up my mail i now see this has been passed to viking collections.

The letter is dated 5th october and states they require the full amount of £350~ within 7 days. I have been getting various calls to my mobile but have stupidly been ignoring them. I realise i now have to face up to this but I am worried i have done irreversable damage to my credit file.

I am really looking for guidance on what damage has been done already and how I can fix this mess.
For instance, have i defaulted on this card? Has the account been closed? Do i need to pay this in a lump sum?

Any help would be greatfully received.

thanks
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ANDY-pandy_5

Unfortunately I have defaulted on the card. What is the best I can do from here? Clear the debt and have the default satisfied? Or can i get the default removed?

ElkyElky

ANDY-pandy wrote: »

Unfortunately I have defaulted on the card. What is the best I can do from here? Clear the debt and have the default satisfied? Or can i get the default removed?

There is probably only one way you could [try] getting the default removed.

Offer them a lump sum payment to clear the debt and state you'll only pay if they agree to remove the default, but always get it in writing. Any default, whether satisfied or unsatisfied is very bad for your credit file and you'll find it difficult to obtain credit for the next 6 years.

If you don't start repaying the debt, as said above, they'll take further action against you.

CLAPTON

they may or may not have defaulted your account..you should have received a letter telling you they intended to default the a/c so giving you the opportunity of paying.

they will have marked you record to say you haven't paid however.

you need to check your credit files

Moggles_2

If you've missed payments ( ie. not late, but missed altogether) for up to 3 months, then normally you are marked on credit files as "in arrears" A default notice would usually only be issued if you have gone more than 3 months in arrears and then you're notified that a default notice has been registered with the CRAs.

A default would indeed stay on your credit file for 6 years, however 3 months of arrears would generally disappear from view after 36 months (Experian), 48 months (Equifax), provided that you keep the account open and active

As above, I'd check your credit files PDQ. For help, see page 1 of the *How to obtain credit reports* sticky

ANDY-pandy_5

I phoned and spoke to someone.
She explain the account had been passed to them and they were now pursuing the £350. I asked about the status of the account and whether i had defaulted and she explained I had.

She asked if I could make the full payment and I asked if I did so would they remove the default. Her reply to this was its impossible to remove a default completely - however it would be noted that it was satisfied.

Is this true? Im sure ive read elsewhere you can sometimes have the default removed if you pay in full?

I can make the full payment but im only really willing to do so if its going to drastically improve the situation. otherwise will it do any further harm to make payments over the next couple of months?

mabski

as the account was taken out pre 2007 i would send them a cca request first and find out if they actually have an enforcable agreement
before anyone goes off on one i only say this as if its not enforcable you have even more leverage when you offer to pay it off on the basis that they remove the default