Default with wrong amount

blaze3647

Hi can someone help me. I had a default placed on my file in feb 2010 and now just found out that the amount (£2k) included £259 of PPI which i was refunded in 2012. Do i have grounds to have the default notice removed from y credit file? The DN was put on by Aqua and they then sold the debt to Capquest after they hit my file with a DN

Tixy

No you won't get the default removed. You may be able to successfully argue the the default amount should be reduced on the entry. If you want to do that I would do so in writing.

Although for those sort of amounts in practice that will likely make little difference to how a potential lender would view your file.

blaze3647

Tixy wrote: »

No you won't get the default removed. You may be able to successfully argue the the default amount should be reduced on the entry. If you want to do that I would do so in writing.

Although for those sort of amounts in practice that will likely make little difference to how a potential lender would view your file.

Isnt there a requirement for DN to be accurate otherwise invalid?

StuC75

The point with the default is at that time the balance was correct - it was only with the subsequent ppi reclaim in 2012 that your balance went down, not in 2010...

It would be difficult to suggest that all historical data should be changed to show if the ppi hadn't been charged, and you were still in default of payments anyway..

A 1.75k default would be just as damaging as a 2k one...

blaze3647

Bad decision while in a depression have a effect. Now I want to buy a house and my bank doesnt even want to smell my wallet.

Tixy

Is the default settled and shown as such on your credit file?

It is possible to get a mortgage with a default on your credit file from some lenders, but you probably need to speak to a mortgage broker rather than one of the highstreet banks.

It likely won't be at the most competitive rates and your choice of lenders will be limited but it should be possible (and hopefully you can then remortgage to a better rate once the default has dropped off).

blaze3647

I offered the company 1k to settle and they took it with big smiles. It shows as settled with a note for partial payment.

I spoke to one adviser but he never got back to me. Left msgs but still hasnt called me back, I guess he has better clients to deal with.

it would be fantastic if the credit card company could take off the DN. Is there no other way?

blaze3647

...can anyone point me to these lenders?

Tixy

If you did default on the debt then there is very little chance of getting it removed.
Is the default date a 'fair' date though? When did you first fall behind with repayments? Sometimes people are successful in getting them backdated if they are dated unfairly/unreasonably late.

Subprime mortgage lenders generally only offer products through a broker not direct to the public I believe. Any independant mortgage broker should be able to advise though.

blaze3647

I fell behind early 2009 I think

Tixy

You may have a case to have the default date altered depending on the detail.

The ICO guidelines state that a default should usually be entered when a debtor is between 3 and 6months behind with repayments. It also states that a creditor should not use a row of '6' late payment markers (to show being 6month in arrears) in place of a default.

If it does appear to be dated unfairly late some people have had success with getting default dates backdated by writing and quoting the ICO guidelines - ICO Guidance - Filing defaults with credit reference agencies