Default

biglad

Hi All

I was wondering if you could help me out a little

I got into a lot of debt over 6 years ago and had various defaults and one CCJ.

Now all i have on my file is one default (natwest) and a late payment (CL Finance) at stage 6. The account for the late payment was settled in 02/2011 and the default was added on 04/09.

The annoying thing is the late payments showing will be there for another 4 years and the default just over 2. With the default it shows on my credit file that I got into a DMP in 2006 but they never put it into default until 2009. CL finance have told me they had the option to put it into default after 6 months of late payments but decided not to, I was never given any choice about this, I would have wished it to be put in default at the time considering my financial state.

Natwest have refused to take off the default.

I have notice of corrections on my file for these accounts explaining but im still having great difficulty getting credit.

Is there anything else I can try, its preventng me getting a mortgage and any sort of finance

Tixy

I wouldn't worry about the late payment particularly.

Regarding the default - you will possibly struggle but one thing you might be able to try is to challenge the date it was entered. It might not work but it could be worth a shot.

Firstly presumably the debt was always in the DMP? What date did you enter the DMP and what date did they enter a default? Did anything happen about the time of the default (e.g did you have to reduce your regular payments, did you have to miss a month or anything?), if you didn't then you could try this.

The guidance on defaults from the ICO is badly worded and contradictory, but one clause of it does say that a person who enters a DMP/is making an attempt to repay shouldn't be put in a worse position than someone who did not make any effort to repay. You could try writing, quoting that clause and arguing that you are in a worse position because of the very late default that they entered.

The ICO guidance on defaults can be found on the ICO website.

Regarding obtaining a mortgage, 1 late payment shouldn't be a killer, even with a satisfied default people do manage to obtain mortgages. Have you had any credit since you completed your DMP? have you tried getting a subprime card to use and repay in full each month (these often will accept people with defaults still on file).

Have you actually been applying for mortgages? have you spoken to an independant mortgage broker about the chance of them being able to find a lender (not likely a high street one and you'd probably need a higher deposit that someone with a clean file).

biglad

Hi

The debt was always in a DMP yes, it was being dealt with by payplan. I never defaulted on payments and actually increased the payment almost every year. I entered the DMP in 2006 around June I think and then the default was added on 28/02/2009.

I have had a credit card with capital since Feb 2011 and always spend a little on it and pay the lot of off each month which has built up my credit.

My Wife has just got a mortgage on her own, but I was considering getting a loan maybe for furniture etc, and we will be remortgaging soon and would be better if both our salaries could be used.

I will try the letter to natwest and hopefully might get somewhere with it

Thanks a lot for your help