Capquest Default ADVICE

lollypink

Hi all , I have spent two years working my !!! off to pay debt and sort bad credit rating and I have now noticed I have a default from Capquest from old Orange phone bill (2007) that was £125 . Its my fault as they have been sending me letters for a month but becasue it was shown as 'settled ' on my credit report I didnt think it would affect my credit rating so I ignored Capquest demands (stuipd I know!!)

I am totally totally gutted that I now have default on my file after I have worked so hard to clean it - is there anyway I get get it removed???

I am happy to pay it in full tomorrow but Ive been advised it would just show as satisfied default which is almost as bad as proper default????

is there anyway Capquest will remove it or now?? Or do I go back to Orange???

Im so angry at myself for not paying such a small bill which has basically ruined my credit rating!!!

Boris_Allen

It will show as satisfied once you clear the debt

McKneff

Sorry, but youre stuck with this default for 6 years from the date of the default.

Sometimes it has been done but only when the creditor has made a major mistake and they are correcting their own error.

It will drop off automatically afte 6 years.

lollypink

so even though the account was first registered in august 2007 because its defaulted now in 2011 I have to wait 6 years ?? so I cant get morgage or any credit til then? I am utterely distraught!!

lollypink

Hi,

I have noticed orange have put a default on my credit file in august 2009 for an account that was showing as settled in 2008!!!

Now capquest are chasing me for the money and have registered a bank default on my file?? How does that make sense!!


Can they do this??? can orange default an already settled file??? Any advice welcomed!!!!

lollypink

Bumping up

MrsTinks

Can they place a default on your account even though you have settled the account? Yes if it was defaulted before you settled it. They should however ideally have placed it within 6 months, but that's a guideline rather than law sadly...
If you settled the debt however then no they can't sell it - you need to send the "prove it" letter to the people chasing for the debt now - ideally dig out any evidence for paying off the debt in full back in 2008 if you have it.
If on the other hand you didn't default the account then no of course they shouldn't put a default on it.

fermi

One thing is for certain. If the bill was unpaid in 2007, and has remained so, then they shouldn't be adding a new default 4 years later.

The question is, have they added a new default with a recent date?

Please check the "defaulted on" date in the report entry. That is the important one. The file updated to date, or a list of monthly D's or 8's are not new actually new defaults. Just updates on the current status.

If they have genuinely added a newly dated default then you have good grounds to complain. However, the most realistic outcome of that could be it being backdated to 2007/8.

lollypink

Hi, it was settled in may 2008 and then they have placed a default on my file in 2009? and now I had a notification on my equifax of a bank default (???) from capquest who have sent me letters requesting the money 4 years later?

Can they do this???

McKneff

It looks that way, There are places you will get a mortgage but I beleive you will pay a premium, sorry.

Gordon_Hose

You can try and work something out with Capquest, but it's rare that a DCA will remove a default if the account did actually slip into a default state, as they are recording factual information.

If you pay it off, in full, get it marked "settled" you can add notes to the entry on your credit file explaining any circumstances that contributed to you defaulting, such as redundancy or illness. Creditors are then forced to read those notes and make a decision based on them. If you intend to get a mortgage it's probably best to see an independent financial advisor anyway. Explain to him the default and how it came about and he can try and negotiate with the bank on your behalf, you don't need to pay them anything as their fee comes from the bank you take out your mortgage with.

Good luck.