Do I have a legal position?

Barry1973

Ok, In 2011 I fell into financial difficulty and my business went to the wall over night with plenty of debt outstanding, I called the likes of step change for help and were very helpful and recommend this to anyone in trouble. For most of my creditors I called them and I went through a income and expenditure and it soon become apparent it was not looking good, that said I agreed a full & final settlement and my credit showed accordingly but more importantly no default registered.
My issue is that with one credit card company the following:
In September 2011 they agreed £1 token payment for 6 months and I have this in writing, that they then took it upon themselves to issue what I think is a default notice one month later, upon my call I they agreed a 3 month suspension to which a default would not be given within a 3 month period, I have this also in writing. My credit file shows they placed it upon my file in December. I am arguing this case, and waiting a response, whats my rights / position?

Stay with me here..

My 2nd credit card company issued me with a possible default notice also in December but didn't get registered on credit file until February, now in December / January both account's were passed across to in house / recovery dept of the same name.

At the time I was lead to believe that the defaults were not actually cast in stone and so I worked hard to see what could be done to settle the account, I grabbed as much money as I could to which I sent across a full and final settlement to which i asked:
"if accepted, you will make an entry on any credit reference agency files to this account as 'satisfied in full'". I received a response that my offer was accepted. I paid the money and moved on in the knowledge no defaults were added.

I did speak with Equifax today who said that if I have requested "satisfied in full" then account should now show as fully paid and defaults removed.

4 years on I have recently had some trouble credit wise and it wasn't till I really looked harder that my credit file doesn't represent "satisfied in full" and 2 defaults existed and I have been blaming an alternative lender for being stubborn on my debt ...I have today complained to the highest level on both and believe me shoved from pillar to post isn't the word, however they are investigating in what sounded urgently. Needless to say the company I initially dealt with don't exist and had to revisit the credit cards direct.
I may also note one other thing is the company said that on more than one case recently they haven't been able to get all information on previous cases.

What is my position? what should i be asking for? what actually can be done? am i going to get fobbed of with some silly cover up? All help greatly appreciated.

happy_bunny_2

Even if they accepted £1 for 6 months, they can default you as long as they sent the default notice.

Did you get the second full settlement offer in writing?

If you don't like what you see on your file, complain, in writing, to the company reporting the default.

Barry1973

Thank you for responding, i find it a little unjust that they may agree a 6 month payment yet issue a default, however upon issue to what may have been a default notice i complained to which they initially agreed hold this back for 3 months which i have in writing, also i must also note that they should have placed AP on my credit file as a payment plan as capital one did for me.
A the time of this happening they had past this debt to there in house debt recoveries dept so i was having communications with both but mostly the debt recoveries that were pushing for a settlement and to mark my file as "satisfied in full" which apparently indicated debt cleared as well as removal of defaults if in the pipeline / due to be added.
At the time i had also agreed a partial with barclaycard who importantly had NOT added a default to me and so i was keen to meet these guys requirements to avoid default marking my credit file. What frustrates me now is that this 'debt recovery' no longer exists and was passed back to the lender themselves and i find it hard to believe that NO verbal communication is kept and all i have that i was told to place on partial settlement was "satisfied in full". The whole system is wrong, they can literally promise the world and deliver nothing, whats worse is it our lives, our lively hoods that can be set back years in recovery and they just sit laughing at you.
I have now raised this with the financial ombudsman to formally go through, but i fear money talks.