British Credit Trust - Default Notice

Microsmith

Hiya Guys,

In may 2007 i a brought a £25k car, i paid 15k cash and financed the rest with BCT, i've paid every month as per contract and eventually paid the loan off, however, a few years into paying the loan i started my business and wanted a card machine to allow my customers a way to pay, but i got declined for this, when i looked into my credit file 2 or so years ago i noticed that BCT had defaulted me AND also said that i never made any payments for 3 YEARS!! i was astounded! i told the guy on the phone well if i hadn't im sure i still wouldn't have the car now, unfortunately all i got back was immature comments and an argument, apparently BCT were having problems, they stopped lending and out sourced their portfolio out to another company, so i complained, i also wrote in and complain but received no answer,

Anyway, time went on, i never got the card machine and well i don't really use credit any way so wasn't really that bothered until i went to buy the wife a new car last month and got declined , i looked in to it and could not believe what i was looking at,

Not only did they default me at the beginning of the loan they defaulted me at the end!

2008 (D) default
2009 (AR) payment arrangement in place
2010 / 2011 and half of 2012 shows as (US) The status of the account is unknown. The payment status has been reported as in default.
the rest of 2012 shows as (D) 3 months then a (SF) for the last payment,

and apparently the balance stayed the same for 3 years, according to them i never paid it only in lump sums at the end in 2012, well that's what the check my file guys say and wont help cos their system says i never paid it! even tho i got the proof via bank statements, they said contact the lender but BCT have since fallen off the face off the earth, and this is 7 years old, shouldn't this just drop off by now anyway?

Any help and advise is appreciated,

Mike.

Hazzinho

It should do off 6 years from the original default, once an account defaults it remains in default, they can't put arrangement and add another default date.

Thrugelmir

British Car Trust were very much alive until March of this year when they were acquired by CapQuest.

Microsmith

What should i do now, or who should i talk to? the lender has vanished? i saw somewhere on the net that they were acquired by capquest and have rung them, the first 5 guys i spoke to didnt know who BCT were, one chap did but couldn't find my account, the mind boggles!

rizla_king

If Capquest bought them out then its their responsibility to correct what is wrong on your files. Complain in writing. Say you will take them to the Financial Ombudsman and Information Commissioner if they dont remove the default.

Thrugelmir

Microsmith wrote: »

, one chap did but couldn't find my account,

Most likely as old closed account data won't have been transferred between systems.

Maybe worth starting by submitting a SAR. Requesting details of letters sent to you between xx and xx. This would then give a foundation on which to dispute the default notice and the supposed arrears.

rizla_king

When in 2008 is the default date? Will drop off your report 6 years from that date anyway.

happy_bunny_2

Probably worth fixing, even if it falls off soon as it might re-appear (even though its should not).

Is the account on your credit file reported by Capquest?

If so, complain in writing, then after 8 weeks refer to FOS. Might take months, but worth doing.

SAR is also a good idea.

HB

Microsmith

According to my Credit file the info for 2007 is not there at all, there is no information for part of 2008 neither, then in August they stuck a 3 in there to say i was 3 payments behind i guess? Sept says 4 then October, November and December have a (D) default, pity i cannot upoad a picture this might make more sense, the whole of 2009 is then (AR)

The account on my credit file is being reported by British credit trust, interestingly, ive signed up for a 30 day trials the other 2 and it seams that the infomation is not being reported by experian or equifax, only call credit are showing this info?

who are call credit? this credit game is a mind field, they all want you to sign up for £14 a month with each agency to check and monitor your credit file, wow!

Microsmith

I should say as well the first default notice was a surprise as is the last one, i paid this loan 100% and can prove it with back statements, i wonder if its worth while just heading over to FOS ? cut out the middle man?

rizla_king

You can contact the ombudsman and ask that they write to them on your behalf explaining your complaint. Though you still have to follow the rules and give the company 8 weeks to look into it before making the complaint to the ombudman an official one.

http://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm

http://www.financial-ombudsman.org.uk/consumer/complaints.htm