Unsettled Default - Confused, can anyone advise?

sez2011

I have currently signed up to Credit Expert have a new credit score and report...

Before I signed up to Credit Expert, experian sent me a £2 credit report about 6 months ago. My confusion is that this record did not appear on it and now it is on my credit expert.

I am upset as I spent years paying back hundreds of pounds to clear up my debt spending time writing endless letters and horrible phone calls.

Company name: Capquest (Formerly FTC)
Account type: Bank
Started: 10/06/2008
Default Balance: £179
Current Balance: £179
Defaulted on: 12/12/2008
File updated for the period to: 17/07/2011

Question 1: How can this suddenly appear when I apparently defaulted in 2008...?

I know that defaults will show on your credit record for 6 years from the date of default (in this case 12/12/2008) regardless whether they are settled or not.

My initial reaction apart from my shock to see another default I knew nothing about was to try and contact the company to pay the £179. However, I read that if you settle an outstanding balance on a default it will update the record restarting the 6 year count down before removal off your record.

Question 2: Do I pay it? Do I ignore it and wait till 2014 when it will dissapear, i've done 3 years and i'm half way there?

I also want to add that I do not know who this company is and do not recall a debt for this amount, but then we're talking 3 years ago. However, I paid all debts chasing me, I do not have someone chasing me for this amount.

Can anyone help, it would be so appreciated

Many thanks for reading this.

fermi

1) Old defaults sometimes appear when for some reason their details get linked to your current credit report. They may have existed before, but just not shown up as that all important link to your credit file hadn't been made.

Paying a debt does not restart the 6 years.

The account will still be removed 6 years from the default.

2) You certainly don't pay a debt where you have no proof it has anything to do with you.

If the default has only just been linked to your current report, then you may hear from CapQuest soon.

Capquest are just debt collectors, so it could be from anywhere.

sez2011

Hi Fermi

Thank you for replying so quickly . What you said about the debt linking back up to me was helpful, I don't feel so cheated now it is just unfourtunate.

My next questions are:

Do I write to CapQuest and ask them to provide documentation of the debt to prove it is mine?
Could they increase the amount of debt now they have contact with me?

I am worried this would open up a can of worms, I hate debt collectors they are so cold.

DizzyChick

sez2011 wrote: »

Hi Fermi

Thank you for replying so quickly . What you said about the debt linking back up to me was helpful, I don't feel so cheated now it is just unfourtunate.

My next questions are:

Do I write to CapQuest and ask them to provide documentation of the debt to prove it is mine?
Could they increase the amount of debt now they have contact with me?

I am worried this would open up a can of worms, I hate debt collectors they are so cold.

They do not usually increase the balance so it should still be the amount you see on your credit file.

fermi

sez2011 wrote: »

Do I write to CapQuest and ask them to provide documentation of the debt to prove it is mine?

Your call really.

As said, it's quite possible that they will contact you now.

It is possible that it's there by mistake, or it could be one of your old debts. Hard to tell without querying it?

So I suppose it depends on how bothered you are with that default being there?

If you are not bothered, then I would be inclined to leave it and see if they write to you with details.

If you are bothered, then obviously you need to get pro-active and dispute it.

chanz4

Capquest , their debt collection part used to be Financial Trace & Collections

sez2011

Thank you DizzyChick, Fermi and Chanz4 I will write to them and question the debt without being rude!

I looked at the print out version of my new credit report on credit expert and they have provided an address for CapQuest which I will use.