Defaults - I'm really confused

flossieflipflop

Hi,

Sorry I keep posting questions at the moment but I just want to clarify things so I can get on with sorting out my credit situation.

My credit report shows defaults on 4 accounts which leaves me in a pickle.

One default is from Next - this account was settled in full in 2008 after it had passed to a dca

Two are from Lloyds TSB for a credit card and loan

One is from egg for a credit card.

I have been in a dmp for the past 3 years in an attempt to sort out my debt.

I don't really know anything about defaults and had no idea how bad they are on your credit record but I'm confused about a ocuple of things I'm hoping someone can help with.

Basically with Lloyds for the loan I never missed or was late with a payment on this prior to joining the dmp. So can they still issue a default even though I was up to date with them and then joined a debt management plan and so they were receieving money every month from that? They have recieved a payment every month for the life of the loan. My repayments were £100 per month and on plan I pay £70 per month if that makes a difference.

For the credit card I think I may have been late with payments a few times but was definately never in a default with this before entering the dmp.

Egg is the only one I'm not sure on - I was probably late with payments and may have missed some but honestly can't remember on this one.

So is there anyway of finding out when the defaults were registered?

Has joining the dmp given me all these defaults? - Interestingly barclaycard have not registed a default even though it is exactly the same situation with them (always paid sometimes late and are included in dmp)

Is there anything I can do about these??

I'm in a better position at the moment than I was when I joined the dmp and am considering offering to take back the original debts from the creditors paying an increased amount (even on original terms) if they consider removing the defaults - is this pie in the sky wishful thinking??!! Even if they don't remove defaults would they consider moving back to payment on original terms?

Thanks for any advice and for putting up with all my questions at the moment

Flossie


Edited to say: have checked my credit report and Lloyds have me defaulting on 20/05/2010 (I've been in my dmp for 3 years and never missed or even been late with a payment!!!!) and on other Lloyds account that is defaulted it has date of 9/04/2010 - can they do this????

RAS

Who is the DMP with, please?

flossieflipflop

My Dmp is with churchwood. I have just spoken to them on the phone and they said basically that Lloyds are b******s and can add a default onto my account at any time after 3 months of initial default. Churchwood said that as my payments under the dmp are not the contractual payments of my accounts that Lloyds are entitled to do this (I can see this with the loan but I'm not sure how this works with the overdraft though?). The lady I spoke to was very nice and understanding and basically said Lloyds are renowned within the industry for messing about with people. If they had added the default when I first entered the dmp in oct 2007 (as Egg did) it would have meant that in the 4 years left on my plan I would have had a completely clean credit record at the end. But now thanks to Lloyds adding the default 3 years(!!!) after entering the plan and so breaking the contractual payments this means I have another 6 years of misery. I'm so angry with LLoyds and completely gutted. I really thought I was working hard to clear my debts and sort out my credit history and feel like Lloyds have just pucnhed me in the face (a bit dramatic maybe but I'm so upset about this)

I really want to write to Lloyds to give them a piece of my mind but know it wouldn't achieve anything.

RAS

flossie

Why oh why are you with a fee charging debt company rather than a free debt charity? How much do they charge you each month for doing something that others do for free.

Did they not advise you before you started the DMP that the creditors would default each and every one of your accounts?

Lloyds should have done this within 3-6 months of your failing to pay the contractual amount. You may be able to get them to change the date to the correct one.

flossieflipflop

At the time I joined with them I didn't even know free services existed. I pay them 17% of my monthly payment which is £250.

Although I am considering managing it myself.

Yes they did say about defaults which is why one from egg is fine and thankfully barclaycard have never registered one but I just can't believe LLoyds would wait 3 years to do this. If they had done it 3 years ago it would be fine and off my record in 3 years time. Apparantly Lloyds are also now passing the debt onto a dca which again I don't really understand as I pay them on time every month and they know they will get full debt back in 4 more years. Lloyds get £180 per month on a £7000 debt which I don't think is too bad (and a lot of that debt was made up by their charges - e.g. my overdraft was £2000 and yet 3 years later stands at £2100 as they added about £1000 of charges and continue to do so)

My only saving grace is that I could probably offer a dca a full and final settlement figure.

I really hate LLoyds at the moment