lowell portfolio and default

SaveFerris

The best thing you can do is go back to Vodafone and haggle with them to update Experian.

Vodafone have the power to remove the default and can do. The problem is with Vodafone not Experian.

They are more likely to remove the information (or make it better), for example they may remove the fact it was defaulted.

Worst case scenario. 6 years from when it was registered on your file it will disappear completely and you a free again.

A default is pretty much as detrimental as being made bankrupt in terms of credit reporting. Even a settled default will have a major impact on your ability to get credit elsewhere.

If you can argue with Vodafone, through the IFO or courts if need be that it wasn't defaulted and they were at fault (or partly at fault) in my view this is your best remedy.

delvey

SaveFerris wrote: »

The best thing you can do is go back to Vodafone and haggle with them to update Experian.

Vodafone have the power to remove the default and can do. The problem is with Vodafone not Experian.

They are more likely to remove the information (or make it better), for example they may remove the fact it was defaulted.

Worst case scenario. 6 years from when it was registered on your file it will disappear completely and you a free again.

A default is pretty much as detrimental as being made bankrupt in terms of credit reporting. Even a settled default will have a major impact on your ability to get credit elsewhere.

If you can argue with Vodafone, through the IFO or courts if need be that it wasn't defaulted and they were at fault (or partly at fault) in my view this is your best remedy.

Unfortunately the default is not from Vodafone but lowell. Lee has been very helpful however

delvey

Spoke to lowell. Originally I said I would pay full balance if the default was removed from my account. This did not happen. So have now asked for a refund which they say they will process.
Apparently it is Vodafone who will need the default remove, even though lowell has there name on it. But I'll have to dispute through lowell
Have also found some paperwork regarding this account. Once I borrow/buy a scanner I will forward these to lee

Vodafone

Hi delvey,

Following our conversation earlier this week I'll get back to you with an update as soon as I can.

When I do I'll pick up on these additional aspects to your case.

Kind regards,

Lee

Web Relations

Vodafone UK

izools

Here's my take on things:

Vodafone had a signed written request from you to close the account and revert to paper billing.

They failed to action these requests.

As a result, a balance was accruing on your account which they were not communicating to you in writing.

Given your request to them that they write to you about any outstanding balances, you rightly assumed that no bill in the post = no amount owed.

It later transpired that they failed to action your cancellation request and failed to action your request to revert to paper billing.

As a result, line rental charges accrued on the account which remained unpaid. This turned into a default. Throughout all of this Vodafone failed to write to you asking you to pay them any amount of money.

Once Vodafone had the account marked as default for some time, they sold the debt to a DCA. The DCA recorded a duplicate default on your credit file but Vodafone failed to remove their default, resulting in two defaults for the same debt.

You acknowledge responsibility for the debt by paying a reduced full and final settlement to Lowell. You now suggest lowell will refund this amount. Make sure they do.

Once they do, write a formal written complaint to Vodaonfe, send it recorded delivery.

State in clear terms exactly what I've written above.

Also state that "a Default Notice, as per industry guidelines, is issued when despite multiple requests to pay an outstanding balance, a debtor has failed to do so and the relationship between lender and debtor has broken down. As there were no attempts made by you (Vodafone) to settle the matter - no requests for payment were made nor were any bills sent - the Default notice is not representative of the reality of the situation. Had any request for payment been made, immediate settlement of outstanding balances would have been forthcoming".

State that in full and final settlement of the complaint you expect that a) the account is recalled from Lowell and that they are instructed to remove the false and defamatory default from your credit file,

b) the false and defamatory default from Vodafone is also removed form your credit file,

c) your outstanding balance is updated to reflect the written cancellation request

d) you are given 30 days to pay this balance.

Advise them that failure to fulfill these reasonable and lawful requests will result in referral of the matter to the Ombudsman Service: Communications and the ICO (Information Comissioners Office).

Vodafone aren't likely to comply but you need to follow their complaints process before referring the matter to the OS:C and ICO, which you should indeed do, once Vodafone have had the complaint in hand for 56 days.

Good luck!

Dave_Ham

Firstly, Lee from Vodafone tried to help out with a client of mine which was great and good he still keeps an eye on here and helps out. Some of the telecommunication providers are not represented and as well know can trash a credit file (and in this case mortgage application)

OP you are attacking this in the wrong way though in my opinion. Pay the defaults if you should, or do not but your driver is achieving a mortgage for your new home.

Whilst the lender you went to kicked out your application, subject to the details (specifically % deposit) you can achieve finance with defaults on your file - just clearly not with the lender you approached.

All the best

izools

Dave_Ham wrote: »

Firstly, Lee from Vodafone tried to help out with a client of mine which was great and good he still keeps an eye on here and helps out. Some of the telecommunication providers are not represented and as well know can trash a credit file (and in this case mortgage application)

OP you are attacking this in the wrong way though in my opinion. Pay the defaults if you should, or do not but your driver is achieving a mortgage for your new home.

Whilst the lender you went to kicked out your application, subject to the details (specifically % deposit) you can achieve finance with defaults on your file - just clearly not with the lender you approached.

All the best

The difficulty with this approach Dave is that from the sounds of things, the defaults were logged without either Vodafone or Lowell following correct process, and as a result of Vodafone not actioning the written request from the account holder.

Paying them will count as acknowledging responsibility for the debt and agreeing with the way it has been handled.

I feel this is the wrong approach.

If the account holder took more time over his approach with things he should end up with no defaults on his credit file whatsoever - and over the course of the loan this can mean thousands or even tens of thousands saved in interest.

You and I both know that whilst it might technically be possible for the applicant to find a lender who will offer a mortgage with a couple of satisfied defaults, the terms and interest will be significantly less favorable, to the tune of a great sum of money.

I'd say that's worth going the long haul complaining to Vodafone and subsequently escalating to the OS:C and ICO.

delvey

Dave you are correct, I hastily made the wrong decision paying it. This is because I did not really know what a default was plus I was frustrated with being refused a mortgage. Hence the rash decision to pay

And izools, your account of things is almost correct

Dave_Ham

izools wrote: »

The difficulty with this approach Dave is that from the sounds of things, the defaults were logged without either Vodafone or Lowell following correct process, and as a result of Vodafone not actioning the written request from the account holder.

Paying them will count as acknowledging responsibility for the debt and agreeing with the way it has been handled.

I feel this is the wrong approach.

If the account holder took more time over his approach with things he should end up with no defaults on his credit file whatsoever - and over the course of the loan this can mean thousands or even tens of thousands saved in interest.

You and I both know that whilst it might technically be possible for the applicant to find a lender who will offer a mortgage with a couple of satisfied defaults, the terms and interest will be significantly less favorable, to the tune of a great sum of money.

I'd say that's worth going the long haul complaining to Vodafone and subsequently escalating to the OS:C and ICO.

Agree and disagree, but do not think I articulated myself brilliantly on my first post.

I was essentially saying if the defaults were lodged appropriately and OP owed the money then pay it. If not, then attack it the way suggested formally and this will take time.

It is a bit of a myth that "sub-prime" mortgages are thousands more expensive and hence my point about the mortgage potentially being available now and take a view on the house I think an offer has been accepted on.

Some lenders do not include defaults under a certain amount by telecommunication providers and whilst OP may not get market leading terms, potentially it would still be high street rates.

delvey

Dave thanks for your advice
My current mortgage advisor basically said forget about a mortgage until 2 years after the default date