Default Help!!

wilkster5

Hi there this is my first post and looking for some info.

1 year ago I entered an agreement with the Alliance and L to reduce my loan payments for 3 months as I was made redundant. They agreed and I made 3 lower payments for the 3 months then resumed my payments and paid of arrears. I'm totally up to date with everything but now it's showing on my credit report as Defaulted. They told me this would happen but at the time I had no idea what a default was.. Silly me/.. ithought it was something minor. Now I cant get a mortgage!! and they refuse to remove it. The balance now is £9467. It was £14500 when I "defaulted".

Any Ideas if there's anything I can do?

Debts in January 2005 £36000
Debts now £11000

No IVA or DMP... It can be done by budgeting and cutting out the luxuries

DFD Dec 08 yippeeeee

lonely_2

You have to write to the Collections department at Alliance & Leicester and ask them to remove the default notice, as the payments have now been brought up to date. Say you are willing to pay an admin fee if necessary. They need to put it in writing, so that you can contact the credit reference agencies and show evidence that they have done this. This is a goodwill gesture on their behalf - they don't have to do it - but if you have been a good customer I'm sure they will consider it. Ask to speak to Mrs Woods on this number: 08705 785 132. She has been very helpful with me, I'm sure she could advise you (she works for A & L Loans Collections by the way). Tell me what she says. Good luck.

wilkster5

Well, I just spoke to a very unreasonable person who stated that Mrs Woods was not available to speak and basically fobbed me off as..l. tough S*!t you are defaulted. But thanks for your help there. Now to look at another avenue.

shameless-about-money

The default goes on automatically as soon as you miss or make a payment late.

Just because you then paid the underpayment in full does not entitle you to have the default removed.

You can still get a mortgage but not from the high street - you would need to see in independent mortgage broker who deals with whole of market.

wilkster5

thanks for that, I thought I would be renting for the next 6 years. Ok one last question. Is anyone in the same situation and has managed to get a mortgage. I'm in full time employment off shore and bring home around £3500 a month with out goings to debt at around £500 a month. I'm finally not getting chased from companies and not had any arrears for about a year but still wont get touched due to this default! I even struggled to get a bank account last month but Lyods TSB managed to get me one-without and debit/credit/overdaft facilities which i didnt want anyway. Thanks again for the help.