Default confusion

winner12

Hi there reading some of your posts about defaults and having recieved my first from MBNA Im still confused to what happens after the default they have accepted my DMP which is up to date with pro rata offers will they pass it to a DCA or go for a CCJ

Marisco

Hi Winner, a default means that you haven't kept to the original payment schedule, i.e you are paying less (or nothing!!) than what you agreed to originally. They could either pass it onto a DCA or go for a CCJ, but if they have accepted your DMP then they probably won't do either. Although sometimes they go for a CCJ if they decide they want you to pay more (this happened to my oh) and you either can't or won't. The default will go onto your credit report and ruin it for a few years(6) as will a CCJ, but if it does come to that, then a court will not make you pay more than you can afford.

winner12

Thanks Marisco
The default is the one thing I find mind boggling
When they accepted my DMP it was marked as severe hardship, so is the default just going through the motions
They are the only one to date to issue a default is this normal practice

DGJsaver

You dont understand defaults , obviously , sorry mate

Any deviation from the ORIGINAL credit agreement made at the time = you defaulting


And you should check your credit files because more will be coming your way , if they havent already

winner12

Yes thats why Im asking the question
I am expecting more but find it strange that none of the others have issued defaults yet I have just checked my credit file but only this one is on there but as usual the letters they send are all ifs buts and maybe

Marisco

As DG says, as soon as you put in a DMP all your creditors will default you. It just means that you are not paying what was originally agreed. Say you had an agreement to pay £60pm for x months, then you found you couldn't afford that and dropped to paying £30, then the creditor will default you for not keeping to the original agreement.

winner12

Thanks for clearing up the confusion Marisco I think I expected defaults from all of my creditors at the same time as most accepted my DMP straight away so I was just curious as to why the others had not gone ahead and issued theirs

DGJsaver

give them time.....

winner12

Thanks saver
I am expecting the rest to issue theirs Capital one i find the most bewildering they dont give you any response that coincides with any of the letters written does anyone know how to get them to listen or who to write to at their Head Office they have sent 2 standard letters about 12 times to date asking for proof of earnings and each time i have replied and sent my SOA all to no avail its so frustrating

Marisco

My oh kept getting the same old letters as well always asking for a SOA. I replied to them a couple of times enclosing an SOA, then got fed up!!:mad: I just wrote to them in the end - you already have it and nowt's changed in 3 weeks:mad: They soon got the message;)

winner12

I did complain to the Financial Ombudsmen who refered it back to Capital One and the same letters have started coming again as I recall they have 8 weeks to deal with my complaint and then I can go back to the Financial Ombudsmen if not happy with the result did they agree your OH DMP eventually