Default Date Help

Kamikaze7771

Hey,

I have recently been going through my credit file to make sure all is well as I was rejected for a small loan. I was a bit surprised by this and found a couple of things that were not right.

I had a missed payment from Virgin, but I contacted them and they agreed it was an error and will remove it, all good.

However, I also have a default on my account. I know what this is for and it was a very long time ago, regardless I would like to get it removed if possible. I bought a PC for an ex and I paid around £150 upfront and she was to pay the rest on finance. We broke up and I totally forgot about it until I received this report and the default. I hadn't been contacted by anyone about it so it seems strange but I did of course move house.


Bank Default from Cabot Financial (Uk)ltd
Terms 0 @ £ 0 (Monthly)
Status Defaulted
Current Balance £ 737
Start Balance £ 0
Credit Limit £ 0
Default / Delinquent Balance £ 574
Start Date 25/11/2003
Date Updated 13/11/2008
Date Last Delinquent
Date Satisfied
Default Date 22/08/2006



So as you can see this was from 2003. But the default date is marked as 2006. What should I do?

The more I read the more confused I become.

- I don't know if this debt was ever paid and can't find out. (probably not)
- Surely the debt was 2003? my ex hasn't paid anything by the looks of it.
- Can the default be 3 years later?
- If I contact the company does the default go on for another 6 years?
- If I pay it will it be cleared? (not sure I want to though)
- Can I transfer the debt to my ex? It was all in my name at the time.
- If they have never contacted me, either by phone or in writing, can they default it? Surely you need notice of something like that?



Erm basically any help appreciated. I want my file clean so if anyone can help I would really appreciate it.

Tixy

You cannot transfer it to your ex. They can default you and only have to send out a default to the last known contact address. If you moved and didn't provide them with new contact details then you won't have received the default notice.

If you pay off the debt now it will be shown as a satisfied default but will still stay on your file until August 2012.

Cabot should have kept the same default date as the original finance company actually used, did you ever get a copy of your file when the default was shown in the original creditors name?
What makes you think ex never paid anything towards it? maybe they paid for a while before ceasing and it was then that a default was issued to you?

Kamikaze7771

Thanks very much for your help on this, its becoming clearer

Tixy wrote: »

You cannot transfer it to your ex. They can default you and only have to send out a default to the last known contact address. If you moved and didn't provide them with new contact details then you won't have received the default notice.

That's fair enough, I didn't provide them with any information. Messy time.

Tixy wrote: »

If you pay off the debt now it will be shown as a satisfied default but will still stay on your file until August 2012.

I take it that's equally as off-putting to a new lender?

Tixy wrote: »

Cabot should have kept the same default date as the original finance company actually used, did you ever get a copy of your file when the default was shown in the original creditors name?

Unfortunately I have never had a copy of my report before. I can't even recall who the original creditor was, maybe Hitachi capital? not sure.

Is there anyway of finding out the original default date? Also if I contact Cabot does the debt grow to another 6 year default as I have read elsewhere?

Tixy wrote: »

What makes you think ex never paid anything towards it? maybe they paid for a while before ceasing and it was then that a default was issued to you?

The only thing making me think this is the values, I paid around £150 upfront so it looks like nothing or very little has been paid (unless charges are added of course) Truth is I don't know when she stopped paying, or if she ever paid.

fermi

If memory serves, I think Cabot have a naughty habit of altering default dates to the date that they buy debts/accounts?

That shouldn't happen, but it's not uncommon for debt collectors to fiddle the dates like that.

May be difficult to dispute/prove though, especially if you don't know what your ex's payment history on the account was.

fermi

Contacting them CANNOT make the default remain longer on file.

If the debt is not yet statute barred, then acknowledging the debt may restart the 6 year limitation period though. (Nothing to do with how long defaults stay).

Also bear in mind that this default will be off your file in 12 months anyway, even if you do nothing.

If you want to know the payment history prior to the sale to Cabot, then perhaps a SAR to the original finance company?

Kamikaze7771

Thanks again for your help. One thing though:

fermi wrote: »

Contacting them CANNOT make the default remain longer on file.

If the debt is not yet statute barred, then acknowledging the debt may restart the 6 year limitation period though. (Nothing to do with how long defaults stay).

How can I find out if this debt is statute barred? And what is that?

Sorry probably obvious but I have no idea...

fermi

See the info and links here:

https://forums.moneysavingexpert.com/discussion/2606811

Kamikaze7771

Hey thanks for all your help again.

Just a wee update:

I contacted the original company and found out the information from them.

- Payments started -29/09/04
- Last payment -30/05/06
- Default date -22/08/06
- Debt passed to Cabot -02/04/07


So I contacted the debtline as on your other post. Basically in 12 days time they can't chase me for the debt (not that they are anyway). Then in 1 year the default will drop off my credit file.


So one last question if I may, is there anyway to have it off my file before 1 year?


Thanks very much.

fermi

Wow. Cabot behaved with the dates for once. They must be learning.....

Kamikaze7771 wrote: »

So one last question if I may, is there anyway to have it off my file before 1 year?

Based on that sequence of dates, it looks like the default was valid and recorded on a fair timescale considering the last payment.

So I think you would probably be flogging a dead horse trying to get the default removed prior to the 1 year from now.

Tixy

12 days?

Are you in Scotland? If so and the last payment was 30 May 06 then this would already be statute barred - it goes from the last payment or written acknowledgment from you not from the default date. That said if they are not chasing then shouldn't be a problem. If cabot do contact you chasing ever just send the SB letter template and they should disappear.

No way to get it removed from your file earlier unfortunately.

Kamikaze7771

Thanks very much for all your help guys.

Very quick responses and very helpful!



It's a shame it will remain on my file for the year but I guess that's just the way it is. At least I know everything else is good on my rating and in 1 year I will have a happy credit file again

Thanks again guys.