Increase credit rating and CCJ - Welcome Finance!!

JustTony

For some reason it won't let me embed images?

matttye

JustTony wrote: »

For some reason it won't let me embed images?

It's probably because you're a relatively new poster, I know it doesn't let you post links and stuff to begin with, but this is mainly to protect against spammers I think.

Can you post a link but put some spaces in it so that the forum doesn't recognise it as such? Eg: http / w w w. google.com

JustTony

Please have a look here for my credit file with deleted personal data.

www (dot) scribd (dot) com/doc/143837684/Deleted-Info-Credit-File-JustTony

Welcome are still updating the credit file for some reason even though I had a CCJ from them in 2007?

matttye

JustTony wrote: »

Please have a look here for my credit file with deleted personal data.

www (dot) scribd (dot) com/doc/143837684/Deleted-Info-Credit-File-JustTony

Welcome are still updating the credit file for some reason even though I had a CCJ from them in 2007?

Ahh yes, they're using the age old spiteful practice of reporting late payments rather than stopping once the default/CCJ is issued so that your credit file is trashed for longer. You'll need to complain to them in writing and if you haven't had your complaint resolved within 8 weeks (or until you get a final response from them), you can then complain to the financial ombudsman.

You should be able to get the information removed and also some compensation.

If you don't get this resolved, those 6s will stay on your report six years from now, and it looks like they're intending to keep reporting those 6s indefinitely too.

JustTony

thanks.

I take it HSBC and Welcome should have both stopped updating after the relevant ccj/default was issued?

What is the best way to go about this and when you talk of compensation what do you mean?

Thanks again

matttye

JustTony wrote: »

thanks.

I take it HSBC and Welcome should have both stopped updating after the relevant ccj/default was issued?

What is the best way to go about this and when you talk of compensation what do you mean?

Thanks again

HSBC is reporting the account just fine. The '8' means the account is in default and the entire account will drop off six years from the date of the default, so don't worry about that.

Welcome are reporting that you're six months behind with payments and it looks like they're going to keep on doing that until you complain about what they're doing. Complain to Welcome in writing and tell them that you want all late payment markers after the date of the CCJ removing, because they should have filed a default around that time, but they missed their chance. Tell them that the ICO says the following about defaults:

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

The customer has not made satisfactory proposals in response to a demand for repayment."

And

"Although there will be some flexibility in the definition of a breakdown, we believe there should be general rules for the minimum period of arrears which should exist before a default can be filed. Equally there should be a maximum period after which, if anything is to be recorded with a credit reference agency, a default must be filed. The following are in line with the practices currently adopted by most lenders.

Accounts should normally be filed as being in default where those payments due have not been received for six months."

Your payments due have not been received for almost six YEARS, so they are well beyond the point as which a default should have been filed.

The only problem you have is that if you complain before the debt is statute barred, they may try to start enforcement action to recover the debt.

The_Boss

JustTony wrote: »

Will my credit score not be better if they have been settled though?

.

If you mean your credit score from a credit reference agency then it doesn't matter as these scores are pretty worthless.

JustTony

matttye wrote: »

HSBC is reporting the account just fine. The '8' means the account is in default and the entire account will drop off six years from the date of the default, so don't worry about that.

Welcome are reporting that you're six months behind with payments and it looks like they're going to keep on doing that until you complain about what they're doing. Complain to Welcome in writing and tell them that you want all late payment markers after the date of the CCJ removing, because they should have filed a default around that time, but they missed their chance. Tell them that the ICO says the following about defaults:

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

The customer has not made satisfactory proposals in response to a demand for repayment."

And

"Although there will be some flexibility in the definition of a breakdown, we believe there should be general rules for the minimum period of arrears which should exist before a default can be filed. Equally there should be a maximum period after which, if anything is to be recorded with a credit reference agency, a default must be filed. The following are in line with the practices currently adopted by most lenders.

Accounts should normally be filed as being in default where those payments due have not been received for six months."

Your payments due have not been received for almost six YEARS, so they are well beyond the point as which a default should have been filed.

The only problem you have is that if you complain before the debt is statute barred, they may try to start enforcement action to recover the debt.

So do you think I could possibly make things worse for myself by contacting Welcome?
Should I wait until after December and see how the credit file looks then - and whether they keep updating it after it is statute barred?

Regarding HSBC - if I was to pay the debt would they not stop updating monthly saying I am 8 payments late?

Thanks again

matttye

JustTony wrote: »

So do you think I could possibly make things worse for myself by contacting Welcome?
Should I wait until after December and see how the credit file looks then - and whether they keep updating it after it is statute barred?

Regarding HSBC - if I was to pay the debt would they not stop updating monthly saying I am 8 payments late?

Thanks again

The '8' is just experians way of showing a default, it doesn't mean you're right payments late. They'll carry on displaying the account that way until the default drops off.

As for whether you should do anything or wait, it depends how quickly you need your credit file sorting out. If you contact welcome now they could start enforcement for non payment of the CCJ, but if you wait until after December (jan 2014 to be safe), they would need to take you back to court and apply to the court to restart enforcement, and it's unlikely the court would allow them to do so.

JustTony

So regarding the HSBC account - it was originally only £7 overdrawn the other amounts where charges that added up to the £105 figure which resulted in a default. Is this fair?

Personally I want this sorting ASAP, however I dont want to risk making things worse when the CCJ drops off the file in december. The only thing Im thinking is what stops them from still updating the file indefinitely, putting 6's on every month??

Thanks again