Cabot Financial & Yorkshire Bank - Same default repeated twice on credit files

rubbishgambler

Hello,

In 2008 I opened a Yorkshire Bank account which I did not look after properly and in 2010 I had a £323 unauthorised overdraft. I received a number of letters from Yorkshire bank but chose to ignore them.

Consequently they passed this debt onto a DRA. I think from the start it was Cabot Financial but I cannot definitely remember. They started sending me letters as well but again I did not acknowledge them.

I have just recently checked my three credit reports and on each there are two defaults for this debt.

Firstly Cabot Finanical, Started 22/12/08, current balance £383, default balance £323, default date 20/01/11, account updated to 11/03/12.

Secondly Yorkshire Bank, Started 22/12/08, current balance £383, default balance £383, default date 24/05/11, account updated to 03/07/11.

This is the same debt! Can both companies report this as a default and should the three CRA's all register both defaults? I am not going to pay back the debt twice so what will happen. Also I noted that Yorkshire Bank defaulted the debt 4 months after Cabot and the default blance was £60 higher with Yorkshire than Cabot? Can anoyne advise if I can get the CRA's to remove one of these defaults?

If someone could help and tell me what my best course of action is it would be much appreciated.

Thanks, Matt

Tixy

No they are not allowed to both report the debt.

When a debt is sold on 1 of 2 things should happen (which the 2 decide between them), either
1) the original creditor removes their entry in its entirity and the debt collector adds on an entry in their name but with the same information (same account opening, same default date and same default balance etc) or
2) the original creditor keeps their entry on, and the Debt collector does not add in an entry. Then as you make payments to the debt collector they tell the creditor who marks this on your file (ie reduces the outstanding balance field).

You probably won't get the CRAs to remove the entries, but you should be able to get the DCA / creditor to do so.

I'd write to the DCA and copy in the creditor and state that the account is listed twice and that you require one of them to be removed.