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Help with Default on loan
Hi guys - I would really appreciate some advice.
In March 2011 I went to upgrade my car with a new loan which was rejected. On the same day I got my credit report that showed I had defaulted on an MBNA loan that I thought I had paid off in full in March 2008. After some detective work it transpired that although I though I had paid it off in full, I had actually paid £3300 rather than £3752 so was £452 short.
So without my knowledge, from March 2008 the monthly amount of £120 was paid out of the £3300 until August 2010 when the £3300 ran out and eventually defaulted in November 2010 after 5 late payments. The payments couldn't be taken as I cancelled the direct debit in 2008 and since moved address so I knew nothing about any of it until March 2011 when I got rejected for credit. On the same day I paid the outstanding amount of £680.43 in full so loan is now settled.
I have added a note of correction, but I haven't explored the possibility of the default being removed if I push hard enough. Overall my credit is very good apart from this default which has really screwed me!
Do you think I have a case?? Thanks in advance - Joe
In March 2011 I went to upgrade my car with a new loan which was rejected. On the same day I got my credit report that showed I had defaulted on an MBNA loan that I thought I had paid off in full in March 2008. After some detective work it transpired that although I though I had paid it off in full, I had actually paid £3300 rather than £3752 so was £452 short.
So without my knowledge, from March 2008 the monthly amount of £120 was paid out of the £3300 until August 2010 when the £3300 ran out and eventually defaulted in November 2010 after 5 late payments. The payments couldn't be taken as I cancelled the direct debit in 2008 and since moved address so I knew nothing about any of it until March 2011 when I got rejected for credit. On the same day I paid the outstanding amount of £680.43 in full so loan is now settled.
I have added a note of correction, but I haven't explored the possibility of the default being removed if I push hard enough. Overall my credit is very good apart from this default which has really screwed me!
Do you think I have a case?? Thanks in advance - Joe
0
Comments
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have you tried your own bank for a loan,they know more about you financially them any credit agency0
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May I ask what were the circumstances that made you pay it short.
The reason I ask is that my daughter paid an amount of F&F which was relayed to her over the phone, she paid it, then moved house.
The bank had given her the wrong amount and then of course her mail wasnt delivered to her so had no idea about the default for a couple of years. She fought this and won, had the default removed and given some compensation.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
You'll have no luck at all in removing the default, it was put there quite leagally by the sound of it. MBNA also have a reputation of being as hard as nails.
Until that little beauty drops off you credit history, shiny new bangers are a no no I'm afraid as most lenders will run away screaming, set themselves on fire and jump out the window."We want the finest wines available to humanity, we want them here, and we want them now!"0
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