Does a lender have a responsibility to contact you over missed payments

happs

erdd2 wrote: »

They are under obligation to follow a process of your not complying with your obligation ....possibly with an expectation that you know you are aware you have defaulted!

From what i can gather they need to issue me a statement at least yearly, which they have failed to do. Also while in arrears they need to give me notice every 6 months if i am in arrears, which they failed to do. I also think they were required to respond to the cabs request for settlement, which they failed to do.

Emmzi

you said it was showing as overdue (late) payments. Not defaults. They do not need to advise you if they are not defaulting the account. And you already know your payments are late because you didn't make them.

happs

From the Credit Consumer Act 1974 - Post-contract information requirements

2.1 From 1 October 2008, creditors will be required by section 77A of the
1974 Act5 to provide debtors with annual statements in relation to
regulated agreements for fixed-sum credit, such as loans and hire-
purchase.


4.5 Once triggered, an initial arrears notice must be served within 14 days.
Further notices must be given at intervals of not more than six months
until the debtor ceases to be in arrears or a judgment is made in relation
to the agreement.


4.9 In addition, all arrears notices must indicate whether default sums or
interest may be payable on the arrears, and that further notices will be
given at least every six months while the debtor continues to be in
arrears.


The first point seems pretty clear cut and the other 2 also seem to apply.

happs

Also from th OFT's - Final Guidance on Unfair Business Practises

2.8 Examples of unfair practices are as follows:

c. refusing to deal with appointed or authorised third parties, such
as Citizens Advice Bureaux, independent advice centres or money
advisers

Emmzi

Hope you feel better now.

So with your new knowledge what are you going to do?

happs

Offer to clear the full balance if they'll repair the damage they've done to my credit history, failing that i'll clear it and put in a complaint to the office of fair trading for 4 breaches.

It's been a learning experience for both of us.

Emmzi

if you are still in a debt management plan still you may be in trouble if you treat one of your creditors preferentially to the others. Plus hasn't plan via CAB shot your records anyway?

happs

The only things on my credit report are this and wonga who have listed a default against me and still have me listed as owing £2000 despite the fact i got an offer of a full and final settlement which i agreed to a year ago and paid according to the terms in february but that's a totally different kettle of fish, that, considering i have emails confirming the offer and one confirming payment seems to be a cut'n'dried case, the debt management company they passed me to have forwarded the details to wonga and are still waiting a reply but i'm confident of getting the default removed from my account.

From my point of view, i've treated all of my creditors the same, they were all sent my offers of payment, they chose not to respond despite being obliged to.

btw, i'll apologise if i've been overly prickly with you on this thread, dealing this stuff doesn't put me in the best of moods and i'm not here to pick fights.

nottoolate

happs wrote: »

The only things on my credit report are this and wonga who have listed a default against me and still have me listed as owing £2000 despite the fact i got an offer of a full and final settlement which i agreed to a year ago and paid according to the terms in february but that's a totally different kettle of fish, that, considering i have emails confirming the offer and one confirming payment seems to be a cut'n'dried case, the debt management company they passed me to have forwarded the details to wonga and are still waiting a reply but i'm confident of getting the default removed from my account.

they dont have to remove the default.

they just have to mark it in some way to show it is settled

nottoolate

maybe also look at

http://www.bis.gov.uk/assets/biscore/consumer-issues/docs/c/10-1053-consumer-credit-directive-guidance.pdf

part 10.49 to 10.57

only applies to certain types of debts though

and may only apply while the agreement is current