We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Defaults Not on Credit Report
feature59
Posts: 17 Forumite
Hello
Im not going to lie, I have a bit of debt (4k in total) and have buried my head in the sand, just coming to start sorting my life out now :-) Mainly inspired by people on this forum!
Amongst other things I have two outstanding debts
A moneyshop load for £125 sold to Lowell
An Albemarle & Bond loan sold to Chantry Collections for £700
I have kept all the letters and they both say they have defaulted the account, I havent recieved the full delfault letter for either and I have checked my credit report on all 3 agencys and there is no record of the default at all on these
Has anyone experienced this before? The debts are at least a year and a half old and part of me is thinking I can put these off and pay the default registered first.
Just wondering what this means? Any help would be greatly appreciated
Im not going to lie, I have a bit of debt (4k in total) and have buried my head in the sand, just coming to start sorting my life out now :-) Mainly inspired by people on this forum!
Amongst other things I have two outstanding debts
A moneyshop load for £125 sold to Lowell
An Albemarle & Bond loan sold to Chantry Collections for £700
I have kept all the letters and they both say they have defaulted the account, I havent recieved the full delfault letter for either and I have checked my credit report on all 3 agencys and there is no record of the default at all on these
Has anyone experienced this before? The debts are at least a year and a half old and part of me is thinking I can put these off and pay the default registered first.
Just wondering what this means? Any help would be greatly appreciated
0
Comments
-
Many PayDay/moneyshop type companies do not yet bother reporting credit account data/defaults to the agencies. Neither do all loan companies.
Also a default notice under the Consumer Credit Act (CCA) is not the same thing as a default on your credit report, despite sharing the term "default". Although, if they are to place a default on your credit report they can't wait too long after issuing a default under the CCA to do that.
So carry on keeping the letters and keep an eye on your reports.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards