Default even though I have paid!

Gonzo1987

I have been paying a debt off for a few years it started at £1500 and I now have it down to under £900, these payments have been made via DD with Apex credit management.

Looking on my Noddle report today I see I have a default with cabot finance for the outstanding amount of the debt, but my DD went to apex and I haven't received any communication to say NOT to pay Apex or anything from Cabot to say YES pay them instead.

I have emailed both companies, but have I just set my bad credit back ANOTHER 6 years? :eek:

glentoran99

What date does it say the default was registered? You can only have one default for a debt

National_Debtline

Hi Gonzo

Had a default for this debt already been recorded previously by Apex or another earlier owner of the debt?

If the debt is now Cabot's property, they are entitled to update your credit file to reflect the default as being in their name. However this default should be dated no later than any previous entry it replaces.

Any payments made to Apex since the debt changed hands should have been forwarded on to Cabot if not refunded to you.

Dennis
@natdebtline

Gonzo1987

It says date of default 07/12/2010 but now there is a shiny red D for September of this year where there shouldn't be.

Gonzo1987

National_Debtline wrote: »

Hi Gonzo

Had a default for this debt already been recorded previously by Apex or another earlier owner of the debt?

If the debt is now Cabot's property, they are entitled to update your credit file to reflect the default as being in their name. However this default should be dated no later than any previous entry it replaces.

Any payments made to Apex since the debt changed hands should have been forwarded on to Cabot if not refunded to you.

Dennis
@natdebtline

Should one if not both companies at least have been in touch to tell me this debt was changing hands? I have done my bit and paid who I thought needed to be paid and I get rewarded with a mark on my file - hardly seems very fair.

I have checked and it's not been refunded, so if it has been passed on will they clear the default for September? Should I cancel my direct debit?

glentoran99

Gonzo1987 wrote: »

It says date of default 07/12/2010 but now there is a shiny red D for September of this year where there shouldn't be.

thats fine, will still drop off in 2016

Gonzo1987

glentoran99 wrote: »

thats fine, will still drop off in 2016

Thats good to hear, but should it still say a D on September when I did pay?

fermi

Apex Credit Management and Cabot Financial are both parts of the Cabot Credit Management Group.

So the debt has probably not changed hands.

Most likely it is just being reported on your file under the name of the parent group.

Gonzo1987

fermi wrote: »

Apex Credit Management and Cabot Financial are both parts of the Cabot Credit Management Group.

So the debt has probably not changed hands.

Most likely it is just being reported on your file under the name of the parent group.

hurmmm - that makes the default even more curious as they have definitely been paid!

fermi

Gonzo1987 wrote: »

Thats good to hear, but should it still say a D on September when I did pay?

Once defaulted, accounts stay a status "D" for defaulted (or "8" on Experian) each month no matter what you are paying. It's just the way it's shown, perfectly normal, and nothing to worry about.

National_Debtline

Gonzo1987 wrote: »

Should one if not both companies at least have been in touch to tell me this debt was changing hands? I have done my bit and paid who I thought needed to be paid and I get rewarded with a mark on my file - hardly seems very fair.

I have checked and it's not been refunded, so if it has been passed on will they clear the default for September? Should I cancel my direct debit?

Collection agencies are notoriously bad at keeping debtors informed of any such changes. You're right, the situation is not very fair on you. In theory Cabot should be the ones getting in touch with you, but you may wish to contact them directly to establish any new payment details you need, and also to ask that any detrimental info recorded for September be amended. After all you should be able to show that the payment left your account at the usual time.

Dennis
@natdebtline