Motonovo - Default after VT

jms88

This is still ongoing so I thought I'd post an update as to what's happened so far.

In July 2014, the FOS found that Motonovo had acted erroneously in marking the file as defaulted before actually allowing me to pay. However they said as the amount is still owed the file would still remain marked as defaulted until the payment was made.

During this time (in fact this is still the case) I was not in a position where I could make a £4K payment, but I would be happy to come to an arrangement to pay, which I explained to Motonovo several times in letters I sent (sent RD). Moto haven't responded to any of the letters offering payment and obviously the default marker still stands. During this time DWF are still pursuing the debt.

Obviously I'd like to get this sorted asap and other than having the total amount in my bank to pay it off, I have done pretty much everything I can to satisfy the debt. I don't want to hide for the next 6 years to get away from the 4k and wait for my credit file to (hopefully) be restored, I plan on looking for a mortgage in a few years time, or even renting which I know may now cause me problems due to the default. Monotovo won't reply to my offers of payment, and I don't want to deal with a glorified debt recovery agent as I don't believe that even if i were to make a full payment the default marker would be removed!

Does anyone have any advice on how best to move on from this? I'm thinking of going back to FOS, even though it took a while to get any action from them last time.

Thanks to anyone who has took the time out to read this!

happy_bunny_2

Did the FOS say if you paid the default would be removed?

What's the default date? It will drop off 6 years after that paid or not. They can get a CCJ though which would not be good.

Renting with a default is ok. Credit checks only show public records such as CCJ, bankruptcy. The only way they will know about the default is if you tell them.

jms88

happy_bunny wrote: »

Did the FOS say if you paid the default would be removed?

What's the default date? It will drop off 6 years after that paid or not. They can get a CCJ though which would not be good.

Renting with a default is ok. Credit checks only show public records such as CCJ, bankruptcy. The only way they will know about the default is if you tell them.

Yes, FOS said in their response Motonovo agreed that if the amount is paid the default marker would be removed. The problem is Moto have done nothing but ignore my letters asking how I can get up a payment for the amount.

The date of default is 10/4/2014.

I'm hoping that even in the worst case scenario (CCJ) then the fact I have evidence that I have at least attempted to make payments should help?

But in your advice having one of my credit files marked as defaulted wouldn't affect future credit applications much? I use a non-public version of Experian in my line of work, so I'm only used to seeing full credit reports but I'm guessing now that's probably not what a lender would see?

jms88

This is strange, but I've just requested a new credit report and the Motonovo agreement has been changed as of the 11/12/2014 and is now recorded as settled on the date I handed the car back?

Seems to good to be true!...

happy_bunny_2

Is it still defaulted?

A default will impact credit applications, but not hour rental credit checks. They can only see public records.

If moto continue to ignore, send back to FOS under existing case number.

jms88

happy_bunny wrote: »

Is it still defaulted?

A default will impact credit applications, but not hour rental credit checks. They can only see public records.

If moto continue to ignore, send back to FOS under existing case number.

No, on my Equifax credit report the MotoNovo agreement is now recorded as 'settled' in April 2014 but this was only amended last December, up until December it was marked as 'defaulted'.

I'm not sure what's prompted the change in them updating it but that's my main issue sorted (hopefully!) I just didn't want to be left with a default for the next 6 years on my otherwise good credit!

I'm starting to think that they are not entitled to mark the agreement as 'defaulted' as I was within my rights to VT the agreement and hand the car back, and once I informed them of my intention to VT then the agreement was in effect 'settled'?

Now I just need to sort out the payment, I've contacted FOS again today to advise them I'm having no joy communicating with MotoNovo, but now that the default has gone I'm actually quite happy to pay the amount to DWF instead if they are chasing me for the payment (unless I now don't have to that is? (wishful thinking!)

Thanks for your help Happy