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Capital One Default
Scrappy042
Posts: 6 Forumite
Before entering a DMP late last year, I was making minimum repayments to Capital One, of around £10 per month.
Once the DMP kicked in, it was paying them £15 per month. However, within weeks of getting in to the DMP, and without warning, Capital One issued a Default notice. Not a warning, but an actual Notice, with no prior warning or contact from them.
The notice stated that I was no longer paying the minimum amount required.
Can they issue a Default without warning? Especially as the new DMP amount is actually higher than the contractual minimum repayment asked by Capital One?
Once the DMP kicked in, it was paying them £15 per month. However, within weeks of getting in to the DMP, and without warning, Capital One issued a Default notice. Not a warning, but an actual Notice, with no prior warning or contact from them.
The notice stated that I was no longer paying the minimum amount required.
Can they issue a Default without warning? Especially as the new DMP amount is actually higher than the contractual minimum repayment asked by Capital One?
September 2013: £8,000 debt
August 2014: £1,200 debt
Aiming to be debt-free January 2015!
August 2014: £1,200 debt
Aiming to be debt-free January 2015!
0
Comments
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How much do you owe for the minimum to be £10?
seems very low to be the contractual minimum0 -
When you say they issued a default notice without warning - do you mean they sent you a letter to say you had defaulted and giving you 14 days to clear the debt? or that they entered a default on your credit file and have sent nothing to you in writing?A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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glentoran99 wrote: »How much do you owe for the minimum to be £10?
Just below £200. 5% or £5 whichever is the higher amount.September 2013: £8,000 debt
August 2014: £1,200 debt
Aiming to be debt-free January 2015!0 -
I got a letter saying they'd issued a Default notice, and its on my credit file. The letter does not mention having 14-days to repay.September 2013: £8,000 debt
August 2014: £1,200 debt
Aiming to be debt-free January 2015!0
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