Defaults on Credit Score

stanny2k

awayinchina wrote: »

Hold on you have £20K saved up and can't pay the £586. Now I would offer to pay the full amount on the condition that "default" is removed, date of default is removed and paid and closed it put on the account.
you do have room to play here. As you have said you have £20k saved. is that paying extra means you get a lower interest rate you will save in the long run.

Yeah agreed. But the 20k I have saved are in ISA's etc. I dont really want to me taking that out just yet.

Also, I tried the whole if I pay it in full can they remove the default, but they're not having any of it.

awayinchina

well there is another option...offer to pay £1 per month for 6 months and by then they will sell it on to a DCA who may be more open to the negotiation. Also, you might be able to force their hand by saying you are disputing the charges on the account? as from 380 > 586 is almost 65% charge and that may be classed as unfair? Also, a little blag miht be called for as they tend only to keep phone conversations for 2 years (if they have it all) also if you did not recieve a default notice (most do not send them out) and they do have to warn you about the default notice
SO it will cost you £10 to request all data held by CPW under data protection act and if there is NO ORGINAL COPY (signed) in regards th default you can make them remove it!

stanny2k

awayinchina wrote: »

well there is another option...offer to pay £1 per month for 6 months and by then they will sell it on to a DCA who may be more open to the negotiation. Also, you might be able to force their hand by saying you are disputing the charges on the account? as from 380 > 586 is almost 65% charge and that may be classed as unfair? Also, a little blag miht be called for as they tend only to keep phone conversations for 2 years (if they have it all) also if you did not recieve a default notice (most do not send them out) and they do have to warn you about the default notice
SO it will cost you £10 to request all data held by CPW under data protection act and if there is NO ORGINAL COPY (signed) in regards th default you can make them remove it!

It is already being handled by a DCA... Rossendales...
They're the ones who offered me £385 instead of £585...

As for the default notice... I tried that one... And they replied with "Yes we did... here is a copy of it..."

Gordon_Hose

All they need to do to rectify a missing default notice is send one. Pointless avenue to explore and not having a DN is no reason for them to remove it.

awayinchina

Again was it signed? Also make sure the dates match! simple little errors can have a great effect. Also check the address and initials look for an error. also, just because they have a copy does not mean it was sent out.......so argue that saying you never received it and stick to your guns.
if they know the money is coming you might well be shocked at how much they can negotiate. Especially, when you offer token payments of £1 per month (if they can't remove it drag it out) these guys work get paid per settlement.
And re-negotiate in 3-6 months you will be shocked how much they change their tune! well if they offered you £385 imagine how much they are making.....

Gordon_Hose

As I've said, having no/defective DN doesn't matter. They can just issue one that complies.

The only way you can use a defective DN against them is if you're already in court.

stanny2k

awayinchina wrote: »

Again was it signed? Also make sure the dates match! simple little errors can have a great effect. Also check the address and initials look for an error. also, just because they have a copy does not mean it was sent out.......so argue that saying you never received it and stick to your guns.
if they know the money is coming you might well be shocked at how much they can negotiate. Especially, when you offer token payments of £1 per month (if they can't remove it drag it out) these guys work get paid per settlement.
And re-negotiate in 3-6 months you will be shocked how much they change their tune! well if they offered you £385 imagine how much they are making.....

Yes it was sighed & dated. I actually received the original, so I didn't hold much hope.

Thing is, its CPW that need to remove the default, not the DCA... CPW still own the charges, they specifically told me that... its just Rossendales are handling the chasing for them...

CPW told me categorically that there is not a chance on this earth that the default will be removed. Whether I pay it or not..

awayinchina

Gordon,
From what i have read a DN has to be issued in reasonable time. 3 years down the line is not reasonable. Also, people have had them removed for such actions (although) some took the DCA to court and got it removed. Still, I would offer £1 per month CPW will probably sell it on to the DCA and you will have a little more negotiation with them as time passes.
I used a little blag with virgin media got it removed difference is I stuck to my guns and said I cancelled by phone and your rep. said that was ok (2 years later found default) and got it removed. Sometimes sticking to your guns can make a difference. But as you know it will be on your file for 6 years. So send them the message it will take 6 years to pay off.

Gordon_Hose

Just guidelines, they don't have to adhere to them at all.

If you bring to their attention that the DN is defective/missing they'll just issue one that complies.

awayinchina

well it can be worth a shot if there is a chance you can get it removed. I am not sure but if they issue a new one then you have x amounnt of time to settle before it appears and if settled it cannot be put up
Just worth a try. I just argue and dragged them out I had one removed by virgin and one by capquest. They re-issued a correct default that I settled and they were like you default in the first place and I argued the original default notice was wrong and they then put a new one up with a more recent date (has to be original default date) so I had them on data protection act.
But I guess it depends on how much you want it removed and what dirty tricks you are up to using. Trust me they will use every trick under the sun to get there 1p from you.