Is this default incorrect?

happybunny86

Hi,

I went on a debt management plan in 2009. All my creditors defaulted me at this point or within a year bar one.

As far as I can see the loan with HSBC haven't reported the loan at all on my credit file at all. It does appear until a default in March 2012 when they passed it on to a debt management company as they weren't happy with the amount I was paying back.

Can I get this updated on my credit file to 2009?

Many thanks,

Leanne

happy_bunny_2

You can certainly try, complaint, in writing. State you believe it should have defaulted within 6 months as per ICO guidelines.

Bit of a grey area. What was your payment per month and what was the contracted minimum? Did it go down before they sold it on?

happybunny86

Hello fellow happy bunny!

HSBC continually asked me to pay more each month as I wasn't reaching their minimum payment but I couldn't due to the restrictions in the DMP so they eventually sold the debt on after I was unable to make payments 2 months running as I had to purchase a new car which I needed for work.

As far as I can see the HSBC loan doesn't appear on my credit record using checkmyfile however I know they don't report everything from experian so I have requested a £2 experian report so I'll double check that before I contest.

I thought it was year after I defaulted rather than 6 months after going on the DMP? I went on the DMP in July 2010 and the defaults for going on it are being reported from July 2016 right up to April 2017. Do you think I also have a case to get the 2017 defaults moved back to the end of 2016 at the latest?

happy_bunny_2

How much were you paying?

What should you have paid?

Missing that 2 months triggered them to sell and the have to default you at that point.

Accounts should default between 3-6 months of no payments, or when the arrears reach 3 months payments, I think. If you have a DMP, maybe they marked it as an arrangement?

Google ICO default guidelines 2007 and read the section on debt management plans.

happybunny86

I was paying £150 and reduced it to £100. I had been in arrears for 2 and a half years at this point so surely the default should have been applied way before?

I don't think HSBC have reported this loan on my credit score at all. It only appears when it hits the company they sold it on to.

happy_bunny_2

Ok, that sometimes happens in that it only gets added when sold on. I've got accounts that appear, vanish every now and again.

Worth a complaint, in writing. Will take a few months if it goes to FOS, and you may not win as each case is different. Worth a go though as it will only cost you a couple of stamps and an hour or so if you need to fill out the FOS form.

Good luck fellow bunny!

HB

fermi

happy_bunny wrote: »

Google ICO default guidelines 2007 and read the section on debt management plans.

http://webarchive.nationalarchives.gov.uk/20100428141142/http://ico.gov.uk/upload/documents/library/data_protection/detailed_specialist_guides/default_tgn_version_v3%20%20doc.pdf

happybunny86

Thanks will report back on the success!