Default Help Needed

Catherine123

Hi,

My boyfriend and I are wanting to start looking at buying a house and have enough money for a 10 % deposit plus fees on a house of around £160,000.

My credit rating is excellent, my boyfriends however isn't. He got in trouble with bills whilst at university. In 2007 he compiled everything into a debt management plan and has paid monthly without missing anything until we paid it off in full in 2012.

The problem is that one of his debtors the plan was paying wrote to him in 2010 offering him early settlement. He was not in a position at the time to take it. Therefore this company referred the debt to their resolve centre who defaulted him and passed the debt on to a different company. My partner was paying monthly so did not realize that this was possible just from saying no to settling early.

The default will not come off for another three years and leaves him on only a fair rating.

Does anyone believe that there is anything we could do to fight this default?

Any advice would be really appreciated.

matttye

So he started making reduced payments on the debt in 2007, but didnt receive a default until 2010, is that right?

The ICO's guidance on defaults says they should be applied 3-6 months after the debtor stops paying in line with the credit agreement. So it should be dated 3-6 months after he started his DMP.

You'll be able to get the default re-dated if what I've said above regarding dates is correct, but it can take time, as often the lender will refuse to help and you'll need to make a complaint to the ICO.

rizla_king

ICO guidance is here https://forums.moneysavingexpert.com/discussion/3172602

Can default later under a DMP I think if your payment level were close to the original ones you should have paid, but if they do the default date should reflect the original time you defaulted within 6 months so should be backdated,