Bit of advice please

Stef__x_2

Hi

I'm looking for a bit of advice, I recently ordered my reports as I'm looking for a mortgage soon and knew I needed to make my file look as good as possible.

My problem is a strange one, I got a default notice in march from h&m for £31 I paid this in full the same day after checking my files I admit it was my fault I used my old bank card to pay online but not having funds in it rolled into a monthly mail order account and I didn't check as I thought I'd paid. Anyway like I said it was totally my own mistake so I paid.

The account shows on my equifax report but just shows start date and end date but I've looked at lots of posts where they have a 'default date' in between?

Any advise would be greatly appreciated.

Wutang_2

does that badboy say SATISFIED?

Stef__x_2

Thank you for the reply

It says S but doesn't have a default date

I don't really understand how they work so anymore help would be greatly appreciated

holly_hobby

The default notice you recd, was an advice of pending recording of a default if you didn't satisfy the notified breach contained in the notice (which I presume was to pay the os £31 within 14 days).

Now you say you did pay the £31 immediately upon reciept of the notice, which means that as you satisfied the breach within the time frame (which as I say, by law, they must give you a minimum of 14 days from the date of receipt - so you payment would have definately been within this window), then NO DEFAULT SHOULD HAVE BEEN RECORDED, OR SHOULD BE SHOWING ON YOUR RECORD.

If it is, and further to the above, you have grounds to have them remove this - as you satisfied the breach within the lawfully permitted timeframe.

Now, your payment profile will show historical late payment/arrears - which is absolutely accurate, but as I say there should have been NO default recorded by the creditor.

(also once a default has been registered, it can not be "satisfied" as seen with a CCJ, as the recording of a default by the creditor is simply a recording of the conduct of the account for the benefit of other potential creditors. As a default essentially acts as a notification to others that you have breached the repayment terms of a financial agreement - and of course you can't "satisfy" (ie undo) a contractual default once it has occurred)

Hope this helps

Holly

ACG

Do you have an idea for purchase price and deposit amount?

Stef__x_2

Hi holly

Thank you for the reply, I spoke to Dave ham who explained it to me.
I'm so glad, I will be more on the ball next time.

The purchase price would be £100,000 or less with at least £15,000 deposit

ACG

Dave ham is well placed to answer any questions especially on the adverse side.
I dont think you will have too much of a problem, you wont have access to all lenders but i dont think it will stop you get a mortgage all together.

Dave_Ham

Cheers all - good news here is that it is definitely not showing as a default on the snapshot I saw...

All the best