bank account default legislation

deanoyvb

Thanks for having a look at my thread.

I changed my bank in Dec 2005, after having issues with the HBOS group. I had an overdraft on an account which i totally forgot about and the bank have defaulted on a balance of £485.

I was wondering if anyone on here would know about the timescales between non payment of a bank account/overdraft and that account be defaulted. The reason I am asking this is that I stopped banking with the HBOS group in Dec 05 and yet the date that the default shows on my credit report as 4/6/2008. I am currently trying to get a mortgage and i have been correspondence with HBOS through experian for about 6 month now. this is causing me and my young family no end of problems in trying to obtain a mortgage.

Thanks and regards

Dean, Lisa and Livia xx

deanoyvb

anyone help me with this please??

chanz4

after a demand to recall the od, their isn't a set period for od's

deanoyvb

so, 8.5 years after i stopped the bank account i will still have a default on my credit report, that is total pish

nottoolate

deanoyvb wrote: »

so, 8.5 years after i stopped the bank account i will still have a default on my credit report, that is total pish

it is taking the pish

read the section on overdrafts in this http://www.ico.gov.uk/~/media/documents/library/data_protection/detailed_specialist_guides/default_tgn_version_v3%20%20doc.ashx

ILW

Have you cleared the overdraft yet?

deanoyvb

I have been in correspondence with the bank for a few month now, I have offered full payment for the account balance but the Halifax have declined.

Thanks

mummymayjay

We are having a similar problem ourselves, only ours is not a dafault but Lloyds have put on our credit file that we had an arrangment and this is stoping our mortgage company to lend us more money. If you havent paid the debt and it is still outstanding the first thing I think you need to do is pay it and close the account, it will then come up as 'settled' on your credit file.

happy_bunny_2

Complain that you feel the time to issue the default with no communication fron you is unfair. Send in writing, signed for.
If they reject your complaint then take to FOS. Can be slow and no guarantees. I would think that defaulting within 6 months would be fair.

Google ICO default guidelines and have a read