credit rating effected by 6 payments late - HELP

kazzyandaggie

Hi Everyone,
This is my first post and I hope you can help.
I got into financial difficulties in 2007 and employed a debt management company to help. They were great and I continued paying off my debts at lower rate. The one that is the problem is Black Horse - I have got the debt down to £1609 from £8000 however they have been listing my payments a 6 payments in arrears the whole time. I didn't realise how big an issue that would become. Black horse disappeared from my credit report 2 months ago. I asked Equifax why and they said it was due to how old it was. I was pleased as it was the last red thing on my report.
Black Horse then sold my debt to a company called Capquest and they appeared on my account as the first payment in September 6 months in arrears and as a default.
I was very upset and called to find out what was going on as I hadn't missed a payment to them at all and had been paying this debt on time at a reduced amount for 5 years.
I have been told that they have to do this and I can't get it removed - I also now understand that this will stay on my account for 6 YEARS from when the debt is settled. Which I am planing on doing this month.
It seems so unfair as I have been trying so hard to get my credit straight and if Black Horse has issued a default I would only have one year left. Now it looks like I will have a bad mark against me until 2018 on a debt that I took out in 2004!
Any advice would be deeply appreciated.

MrSilk

Call Black Horse and ask them !!!!!!.. I'd also contact all three CRA advising them of the error- do you have bank statements showing the payments sent towards paying off the loan?

fermi

MrSilk wrote: »

I'm sure the entry will drop off 6 years after the default date, regardless if it's settled or not. Someone please advise.

It will.

However, Black Horse should not have recorded a it as 6 months in arrears for that length of time instead of properly issuing a default.

Similar to the case here: https://forums.moneysavingexpert.com/discussion/4180943

And the others linked to from that thread.

MrSilk

fermi wrote: »

It will.

However, Black Horse should not have recorded a it as 6 months in arrears for that length of time instead of properly issuing a default.

Similar to the case here: https://forums.moneysavingexpert.com/discussion/4180943

And the others linked to from that thread.

Yeh, I edited it because I realised I was stating the obvious, sorry!! :rotfl:

kazzyandaggie

Hi,

I have tried speaking to both Black Horse and Caquest and they both keep telling me that it is not a default and therefore not as bad. They are also saying that even though I have been making payments for years I never caught up on the 6 payments I got behind with. Can you please tell me who I can raise this with as the companies are not being helpful at all.

Also can I ask who I should be chasing for this as Black Horse have removed all records by them and Capquest are say that they have to continue showing the continuing state of the account. A bit confused!

Thanks so much for the advice so far!