incorrect figure on credit file default.

hosted

Good afternoon,

Just want to get your opinion on a default on my file.

This credit agreement was with welcome finance, I excercised my rights to volintarily terminate the agreement and this was eventually accepted by welcome finance.

This was under termination:your rights

you have a right to end this agreement, to do so you should write to the person you make your payments to. they will then be entitled to the return of the goods and to half the total amount payable under this agreement that is £5,595.52. if you have already paid at least this amount plus any overdue instalments and have taken reasonable care of the goods you will not have to pay anymore.

I had paid 15 installments at 350 and had paid a 400 deposit. that to my mind is 5650. I returned the car and welcome arranged for an AA engineer to check the car and it showed no advisories. however welcome have registered an outstanding amount of 2400 on my credit file.

I have sent proof to equifax and their response was at the time of writing welcome finance confirm this default to be correct or something along those lines.

This is obviously having a negative effect on my credit file, I belive it to be wrong and have proof. Would the small claims courts take up such matters and order a correction or is the financial obudman the way to go. Im at a loss now.

Kind regards

hosted.

StuC75

Who was the £400 deposit paid to? was that to welcome or to the original garage? was it part of what was originally financed? as that could be what makes you short of the expected figure?

hosted

Hi,

Yes, reading the credit agreement it would appear that the £400 was deducted from the cash price of the goods. This is apparent looking at the amount of credit for the goods.

So if I was short by £400 I wonder what the other £2000 relates to. I have correspondance from welcome confirming that they are happy to accept the volantary termination.

thanks for the quick response.

Hosted.

hosted

good morning,

So what is the next step with this? I believe i have provided sufficent evidence to equifax to show that there are discrepancies in the figures owed, this is prevalent across all my credit files. If this were reduced to the £400 that i believe i am responsable for, then there would be no hesitation in paying it off. Would the courts look at such action or is this not in their realm?

Kind regards

Hosted

izools

The credit reference agencies won't amend data without Welcome's consent.

You need to raise the dispute with Welcome themselves and if you get nowhere, escalate it to the FOS and ICO - the ICO has the power to order the credit reference agencies to amend the data if they find in your favour but you must exhaust Welcome's complaints process first.

Good luck!

hosted

thanks for that, its got 18 months to run on my credit file before the six years is up and dca are making no viable attempts to recover it apart from the odd letter. might just hang fire and let it run its course. if they take me to court then i have plenty to back myself up.