AP markers vs Defaults

beth3735

I just noticed along with my AP markers i also have 3 accounts with DM markers too. Are these just as bad as AP?

rizla_king

AP should be no more than 6 months. Lenders take the p and leave it on longer to maximise the amount of time they can damage your credit files for.

Satsumi

I've just sent off 2 letters this morning to Barclaycard (I never arrange an AP with them) and Capital One who AP'd me for 23 months before defaulting me!! More info is coming to light through threads like this which will give me plenty for letters in response to them not changing my credit files. There will be plenty of routes to go down. Would the Financial Ombudsman be in any position to help, esp regarding best practice and "fair play"?

Stewart_78

Satsumi, my next step will be official complaints to the ICO and FOS about this. I will also be writing to the boss of Barclays as he has been spouting about their new culture of fairness.

All they are trying to do is get you to pay them back before you pay other creditors. It's a tactic and I'm sure it works to the detriment of banks who treat customers more fairly.

I was a productive, tax paying member of society before all of this. A series of unfortunate events and one serious mis-judgement on my part and I'm a financial pariah. Barclays and Cabot or whoever else can now bully me and threaten me at will because they have my credit record in their hands.

It's just not right. People make mistakes (eh bankers?). People get unlucky. Bad things happen. But it really benefits nobody to let mean bully boy bankers to be allowed to string these people along for ever.

Satsumi

Stewart_78 wrote: »

Satsumi, my next step will be official complaints to the ICO and FOS about this. I will also be writing to the boss of Barclays as he has been spouting about their new culture of fairness.

All they are trying to do is get you to pay them back before you pay other creditors. It's a tactic and I'm sure it works to the detriment of banks who treat customers more fairly.

I was a productive, tax paying member of society before all of this. A series of unfortunate events and one serious mis-judgement on my part and I'm a financial pariah. Barclays and Cabot or whoever else can now bully me and threaten me at will because they have my credit record in their hands.

It's just not right. People make mistakes (eh bankers?). People get unlucky. Bad things happen. But it really benefits nobody to let mean bully boy bankers to be allowed to string these people along for ever.

Thanks for the advice, and totally understand what you say!

happy_bunny_2

Stewart_78 wrote: »

Well in my case they obviously thought the thing had broken as they sold on my debt to Cabot. At the end of the day, all my other creditors have treated me very fairly and I appreciate that. I will try my best to pay them back. If Barclaycard won't do the right thing I will simply stop paying them and we'll see if they can find a copy of the credit agreement for an account opened in 1997! Two can play at their little game. Sure it gives me a certain default in 2013 and another 6 years until I'm clear but I'll save the 10 grand I owe them.

Barclays are the bank crowing about how they have changed and are going to be oh so fair. What they are doing is keeping people in debt for as long as they possibly can.

From ICO default guidlines:

"Indicators of a default
The following indicate that a breakdown has occurred in most types of
product (excluding those in the sect
ion on Exceptions at paragraphs 12-
15). This list is not necessarily exhaustive.


The account has been referred to a collection agency or in-house
debt

collection department"

Should be dated no later than that, but best read the entire document.

Hopelessly_Hopeful

I have a query that could hit either of the credit score, DMP or mortgage boards. Any comments gratefully received.

https://forums.moneysavingexpert.com/discussion/4514247

HHx

michael1983l

Stewart_78 wrote: »

Well in my case they obviously thought the thing had broken as they sold on my debt to Cabot. At the end of the day, all my other creditors have treated me very fairly and I appreciate that. I will try my best to pay them back. If Barclaycard won't do the right thing I will simply stop paying them and we'll see if they can find a copy of the credit agreement for an account opened in 1997! Two can play at their little game. Sure it gives me a certain default in 2013 and another 6 years until I'm clear but I'll save the 10 grand I owe them.

Barclays are the bank crowing about how they have changed and are going to be oh so fair. What they are doing is keeping people in debt for as long as they possibly can.

They are not required to have a signed credit agreement for Bank Accounts and Overdrafts.

EDIT, just seen this is about Barclaycard and not actually Barclays, error on my part, yes they do need a credit agreement for a credit card.

Satsumi

Does anybody know how long I should wait for a reply from Capital One and Barclaycard? It's been 16 days and I haven't heard from them yet. Surely they won't just ignore my letters without reply?

happy_bunny_2

They might just be stupid enough to ignore them, or could just be they don't know what they are doing.

You have to wait 8 weeks to go to FOS, but after a month, I would call FOS to see if they can offer them a nudge.

Banks are supposed to respond to complaints within a reasonable time frame and send you a copy of their complaints process, nothing after a month isn't sticking to that. I've usually had letters confirming receipt of complaint no later than 14 days.