Recording of a default

ybbon66

Hello,

In 2008 we ran into difficulties and came to agreements with the 4 or 5 credit cards we had at that time, we came to payment arrangements with all of them without a problem except Mint. Even though they accepted the pro-rata payment, they insisted on putting a default notice on the account.

The default was in October 2008 so it is nearly done with anyway but it has probably stopped us getting BT cards to get rid of the last debt quicker over the years.

The full amount to Mint was paid in December 2010. The CRA's now list the card as satisfied. What I am a little annoyed about is that it shows all the way through until final payment as "defaulted".

I'm sure I saw on here the other day someone from National Debt Line (maybe?) with a link to the ICO guidelines on this. My contention is that:

1. We made an arrangement to pay, it was a token amount but they accepted the payment and we had never missed a payment until that date and never missed one after, the agreed amount was £23.50 if I recall, but I was paying back at £50/£60 pm before paying in full. I thought I read that a default should only be applied where payments had been missed. We followed the banks own advice on "talk to us first", did that and still got penalised.

2. Should the payments made be marked as defaulted when in fact they were made on time and to arrangement? (I suspect the answer to this is yes but hope springs eternal).

In some ways this is all moot, we only have one debt left and that will be paid in full by August this year anyway, and the default will also drop off in October but it has always galled me that we have had various rejections all caused by this default which was unnecessary in the first place. It was also paid 4 years ago and in full so I don't expect to get the low life's chasing after me for what was not paid - not to say they will not but there was nothing left to pay.

I guess I have 3 courses of action.

1. Ignore it.
2. Put a notice of correction with the CRA's but I think that is of limited value.
3. Try and pursue Mint yet again to remove this notice but reference the ICO if possible? Ironically none of our other creditors did that and they were all owed more at that time.

fermi

Once defaulted, monthly status codes stay at a D or 8 for default no matter what you are paying under any arrangement. Monthly status codes that give a 1,2,3 or something else only apply to non defaulted accounts, as they reflect how you are paying in relation to the original contractual terms.

Any informal arrangement after that is still a default status.

That is just the convention on how these things work and are shown on credit reports.

ybbon66

Thanks, continue with option 1 then