Defaulted Accounts - Question....

Hannah_10

They could also file another default if you miss payments, they probably wont, but I believe they can as it's a separate amount you defaulted on iyswim. Why not just take the surplus you have at the end of the month and send them half each? If I were doing that I'd send the usual payment and send the suplus as a separate payment on another day because I've actually known creditors who are being overpayed to then complain they're not being paid regularly/evenly. Sending 2 payments resolves this and you can always say it was a gift from your Nan (not that they're likely to ask).

fermi

Hannah_10 wrote: »

They could also file another default if you miss payments

No they can't. A default can only ever be registered once.

Hannah_10

Ahaaa, in that case I have some arsekicking to do because I've got 2 on the same debt and I was told (way back in the days when I still spoke to the creditors- silly me) that it was fair for this reason. Do we have a template letter do you know?

fermi

Hannah_10 wrote: »

Ahaaa, in that case I have some arsekicking to do because I've got 2 on the same debt and I was told (way back in the days when I still spoke to the creditors- silly me) that it was fair for this reason. Do we have a template letter do you know?

What do you mean by a "separate amount"?

What exactly happened with this debt?

If you refinanced a loan. i.e. took out a new credit agreement, then it might possibly be allowable.

The other thing is, are you sure that they actually registered a second default on your credit report?

Once you've defaulted then the monthly status codes on your credit report will be updated with a "D" or "8" each month. Doesn't mean that they are adding fresh defaults, but just updating them to say "still in default". But some people misread that as newly added defaults.

Also, do you mean more than one default on your credit report or more than one default notice send to you through the post? They are not the same thing. It's possible to have more than one default notice sent to you. You should still only ever end of you one default on your credit report though.

Hannah_10

I'm gonna have to look into this and get back to you because this is fairly recent (within a year or so) and I will have the letters somewhere. I also have the old credit files from the time somewhere too. I intend to send for my credit files again tomorrow by snail mail so I'll get a thread up when I have more to go with.

crapwithcash82

Hannah_10 wrote: »

They could also file another default if you miss payments, they probably wont, but I believe they can as it's a separate amount you defaulted on iyswim. Why not just take the surplus you have at the end of the month and send them half each? If I were doing that I'd send the usual payment and send the suplus as a separate payment on another day because I've actually known creditors who are being overpayed to then complain they're not being paid regularly/evenly. Sending 2 payments resolves this and you can always say it was a gift from your Nan (not that they're likely to ask).

I was going to do exactly that, just pay the usual minimum payment on the agreed date, and then pay the additional separately a day or so later, just so its clear that the minimum payment has still been made. I really want rid of at least one of these accounts within the next month or so, hence the reason I was planning on going for clearing one of them completely, then the other.

They'll both be gone by the summer one way or another, and as its never gone as far as a CCJ in the past, I'm not coming this far and then slipping back to the start of another six years of this stress!

Roll of debt freedom, I really cannot wait!! :money:

Hannah_10

As long as you are making the agreed payments the chances of them applying for a CCJ, let alone getting granted one, are small. It's if you stop that the risk begins.

pmf63

Is there any truth in what I have been told that as long as you are paying something and as long as it reflects your income there is little, if anything, a DCA can do to make you increase payments?

If this is the case I think I would carry on paying the agreed amount and then save the extra until I have enough to pay it off completely in one payment

Diana_Prince

pmf63 wrote: »

Is there any truth in what I have been told that as long as you are paying something and as long as it reflects your income there is little, if anything, a DCA can do to make you increase payments?

If this is the case I think I would carry on paying the agreed amount and then save the extra until I have enough to pay it off completely in one payment

That's what I did! I don't think they can, they only asked me to increase mine once and I did so by £5 a month! I think it's a good way of doing it as they are interest free!

Re your earlier question of settled looking better on your credit file than outstanding balance, I hope someone can come along and answer as I've also been wondering this!!!

fermi

pmf63 wrote: »

Is there any truth in what I have been told that as long as you are paying something and as long as it reflects your income there is little, if anything, a DCA can do to make you increase payments?

From the OFT.

https://forums.moneysavingexpert.com/discussion/2992820

Physical/psychological harassment

2.5 Putting pressure on debtors or third parties is considered to be oppressive.

2.6 Examples of unfair practices are as follows:

...........

b. pressurising debtors to sell property, to raise funds by further borrowing or to extend their borrowing

...........

f. pressurising debtors to pay in full, in unreasonably large instalments, or to increase payments when they are unable to do so