Credit report entry - 1st Credit (finance)ltd

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Hello all,

Trying to clear up my credit file and I have found an entry from 1st Credit (Finance) Ltd for an outstanding loan from May 2008. It is for £1138. It is showing as defaulted every month from May 2008.

This is obviously destroying my credit file and I know nothing of this loan or company.

I am after some advice please. I want this removed from my credit file and sorted out. I am worried if I contact this company for information they will subsequently chase me for this debt that I know nothing of and cannot afford to pay.. I have racked my brains and I have never had any information on this or know anyhting about it.

I know it will drop off but surely it will take until May 2014 !!! (Will it drop off as it is showing in default every month?)

Thanks.

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camuk81

Yes it will show in default for every month though there is a chance they may contact you now they have been alerted to the fact you have obtained your credit report

camuk81

a quick google shows these guys work for HSBC, Barclays, HBOS, JD williams and many more.

Do you know what the debt was?

If you are unsure if my be worth asking to see a copy of CCA. But do this request by post and don't phone/ sign anything

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Hello,

Thanks for both replies. I have checked my credit report previously and been on the electoral role at my address for 5 years so not sure why they haven't contatced me at all. (Since the date is only 4 years ago on the credit file)

I have had a loan with Barclays but this has been paid and is showing as settled on my file so no idea what this is!

Will it drop off in May 2014 or will it just keep showing as defaulted.

I may write to them asking what it is and if it is over 6 years old may try the statute barred option. Who knows!?

fermi

It will drop off in May 2014.

If you want it off before then, you are going to have to dispute it with them.

You could do that via the credit reference agency initially, as it may just be a mistake.

If no joy there then you would have to contact 1st Crudit directly.

If a debt isn't yours, then statute barred or not it shouldn't be on your credit files.

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Just a quick update and yet another question. (Thanks for your patience!)

I have done a little more digging and the date the account started is 24/07/2003 with the default being added in May 2008. I have had no default at my current address having been here 5 years.

I am going to send a CCA request to the company and also ask for a copy of the default notice as I believe this has been sent to an incorrect address.

If it has been sent to an incorrect address. Can I get this removed ? Also, I believe it to be statute barred if in fact it is my debt as I certainly have no knowledge and have not had any dealings regarding this in over 6 years!

Thanks.

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Copy of letter I am going to send for any advice or pointers ? Is this sufficient to cover the default notice and CCA ?

[FONT=&quot]Dear Sir/Madam

[/FONT]
I do not acknowledge any debt to your company.[FONT=&quot][/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]I write with reference to an entry on my credit file from 1st Credit(Finance) Ltd ending in reference *****. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]I have no knowledge of this debt. The account start date is shown as 24/07/2003.[/FONT]
[FONT=&quot] [/FONT]
After recently obtaining a copy of my credit file I was concerned to note that your company has placed a "Default" notice against my name.

Further to this I have no recollection of ever receiving such a notice, and I therefore require you to substantiate this data at your earliest convenience.
[FONT=&quot]1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.78 (1) Consumer Credit Act 1974 (s.77 (1) for fixed sum credit). Your obligation also extends to providing a statement of account. I enclose a £1 postal order in payment of the statutory fee, PO Serial Number **************.[/FONT]
[FONT=&quot]2. You must supply me with a signed true and certified copy of the original default notice[/FONT]
[FONT=&quot]3. Any deed of assignment if the debt was sold on[/FONT]
[FONT=&quot]I would request that this data is provided to myself within the next 28 days, if you are unable to provide this data then I must insist that it is removed from my files as unsubstantiated.[/FONT]


Thanks!

fermi

Got I hate that letter.

No. Don't send that.

1. They don't have to supply a signed copy of the credit agreement under the CCA, making a request under that proves nothing.

2. No, they don't have to. Again a nonsense request.

3. No, they don't have to proved that. Again, a nonsense request.

If you ask for things they are not obliged to provide, then they are just going to fob you off.

Instead you just have to write a simple letter making the following points.

- You notice a default registered by them in your name.
- You have no knowledge of this default or any account/debt it may represent.
- You dispute that you have an outstanding debt and dispute that you defaulted on any debt.
- Unless they can provide documentary proof that there is (a) a valid debt in your name (b) that you defaulted on the account and (c) that a default notice (if required) was sent, then you demand that the default record is removed from your report.
- That recording a false default against your name puts them in breach of the Data Protection Act, and may count as defamation.
- That if they refuse you will complain to the OFT/trading standards, make a complaint via the FOS for removal and reparations, and make a complaint to the Information Commissioner regarding breaches of the Data Protection Act.
- That you will consider further formal action for removal of the default and for defamation. Ref: Dr Mike Thompson vs Aktiv Kapital