Default removed....what now?

CASHLOW

Hi guys,

First new post and I hope lots of you can assist.

Recently I had a default removed from my credit file (originally MBNA and then CapQuest who purchased the debt). Both the satisfied MBNA and the current CapQuest have gone. I fear this is only temporary though!? I disputed it on the grounds that the default was sent to an address I never lived at, which was indeed correct. However the debt remains and CapQuest are still in touch with threatening letters stating they will commence legal actions (imposing a CCJ).

I've been trying desperately over the last couple of months to come up with a plan to restore my credit profile as best I can, but I feel I've messed up. The debt isn't at the statute barred limit I don't believe, which gives them ammunition in the way of screwing my credit file for a further six years....the amount is £4500, so well worth trying to recover if I don't show willing on some kind of repayment. This has been the case for about 5 years. My concern now is that A. if I continue to do nothing they'll file to the courts before the 6 years limitation period (sometime real soon I gather) and impose a CCJ which would be a massive blow to me. B. Apply a new and correct default which will start when they send it and tarnish the report again for a further 6 years. C. I enter a reduced payment plan to avert the other two options and then have this showing on my report which will be just as damaging! I hope my concern is clear. Basically should I have just left the damn default alone (which would have dropped off in 18 months) and gone into some reduced payment like that??? Once a company has filed a default (and in this case removed it for whatever reason) what can they do to a credit report after that....

Please help, it's killing me to think I'll suffer for another 6 years regarding this.

Thanks in advance.

CASHLOW

Update:

Rightly or wrongly I spoke to them on the phone earlier. I asked what the status regarding the default disappearing was and the lady left me on hold to speak with her manager. When she came back she said that they believe it's been removed as I must not be the person they're chasing with reference to this debt and also mentioned that the default removal is a permanent deletion and should not go back on. This has left me seriously confused now as I will no doubt keep on receiving the demand letters in the post.

Anyone got any advice at all here please....appreciate it's a tricky one.

awayinchina

OK,
this is what I would do. CAll them back, get the rep to get a manager who can email you exactly what was said before. Get it in writting on an email (they do have access to email especially managers) most of the companies use PDF generated documents created in word that are official <quote that as then they will know you mean business. Once you have it in writing you have them saying it is not your account and it has been removed<<<very important.

Should it appear again you have evidence that capquest have admitted it was not your account. DO NOT TRUST ANY VERBAL AGREEMENT. get it in writting!

I know it will cost in regards the phone call but imagine trying to do this every 3-6 months when they sell it onto another DCA who might default you again!!

CASHLOW

Thanks for reply,

Think I just accidentally clicked report post - please disregard lol.

Why do you suggest email and not writing may I ask?

Gordon_Hose

Quicker turnaround.

awayinchina

also you can then confirm you have got the email and you can check the wording whilst they are on the line!!!

CASHLOW

So my understanding of this then is, now that the default has been removed, they (or someone else who might own the account) can reapply one? When I spoke with my CRA they said that this should not be allowed!? And just because CapQuest may state that it's not my account doesn't mean it's not. The account is mine (though I haven't acknowledge it and didn't in the phone call either). I just feel like I've made a mess of this and it's going to come back and bite me in the !!!. I went on a mission to get the default overhauled without thinking it through properly....I just feel exposed now that that one has been removed.

Any other advice/suggestions would be greatly appreciated.

Thanks to those so far.

awayinchina

get it in writting....it will take you less than 10 mins to sort out. It may never re-appear. But if it does, you will be back to this exact point again. Fighting to get it removed having DCA contacting you, is it worth it? when if something starts again you just email the letter from capquest to the next bunch of buffoons.
Learn from this experience and be prepared should the same thing happen.
I call it CYA (cover your ****)

if you have the chance to get evidence why not take it??? Plus, next time claim for compo.....you can do that!

CASHLOW

Also...a side point. If it does somehow get to them filing for a CCJ against me, other than the standard scare tactic letters they send, is there something that's a clear sign it's happening, or does it just happen and you've got one? What I mean is does the debtor have a last ditch attempt to resolve the matter before a CCJ is imposed? Again I really wish I was on some payment plan with default still in place if that makes sense....at least I knew where I stood with that!

CASHLOW

I'll call them tomorrow and request it. I can see them squirming there way out of it though if you know what I mean.

Gordon_Hose

They've admitted you're not the debtor they are after, you get this in writing they'd be incredibly stupid to take you to court.

Court papers from Northampton would be the sign it's happening, but it won't come to that.