Enforced repossession?!

omas

Hi, I just checked my new credit report from Noddle/Call Credit and find out I've got defaulted account with enforced repossesion note on it dated 23.5.2012. I've had an hire purchase with them settled in April. I paid them all the money I owe (agreement has been terminated early - 50% paid + costs of damages to the car) and received letter dated 22.5.2012:

"With reference to the above vehicle and Agreement, I woul confirm that your request to Voluntarity Terminate your Agreement has been accepted by us.

From the Inspection Report and items returned to us, there is no further liability.

We have therefore terminated your agreement with no liability. Thank you for your assistance in arranging this. Should you have any questions, please do not hesistate to contact us."

Can they do that? What should I do? Can they remove this from my files? I'm going to contact them tomorrow morning, but I want to know what to expect.

Buzby

It is standard procedure to do his. Whilst the legislation allows you to terminate, the downside is that it is viewed as an abnormal termination, ans is reported as such. I agree it stinks, but bu simply state heir duty to accurately report the early trmination on your file.

omas

I handled back the car, paid extra £1000 and they still said I defaulted? If they would said me that before I wouldn't pay them a penny. They said they will leave a note if I will not pay all the charges. What a bunch of cu***!

BugsyBrowne

Don't worry to much as it only takes 6 years to fall off your report.

Apples2

I'm surprised they marked it as a Default, it would normally be a VT Marker. Definitely worth asking about.

Here's a fairly old, but interesting read about the brewing war between car dealers and finance companies. Maybe they have turned a miserable corner for the consumer.

omas

Can they put default in my credit files without sending me any default notice letter or don't informing me about? How can they state enforced repossession without court order? I'm really not happy at this moment. I've working hard to sort out all debts and improve my credit rating and now I've got this.

vax2002

If you have been on Noddle get ready for phone calls from debt collectors, its a honey trap.

omas

vax2002 wrote: »

If you have been on Noddle get ready for phone calls from debt collectors, its a honey trap.

What do you mean? What debt collectors?

Hazzinho

They're talking rubbish, if you have debt you have debt regardless of signing up to a CRA to see your file. Your agreement is over so no debt company will bother you. I have no debt so where is the honey trap for me?

vax2002

A CRA makes its money by tying data entered with data of old debts, so anyone who has moved or changed address or dodged any debt will have the new info they put in the CRA put on the file,the file is flagged up as correct details and put on another list where debt collectors buy the new information, buy the file.
your file shows a Default of £691, expect someone to come looking for the £691, so be forewarned and fore armed.

chanz4

No that file has the wrong status, raise a dispute with noodle