Finance with Default

cw212010

HI all,

I had a great credit rating until this time last year when Vodafone decided to destroy it for something that's their mistake.

I'm currently suing them.

As a result, I have a default on my file, however the car I have on finance will be paid off in a few months time and as I do a high mileage it's only 5 years old with 130,000miles.

As a result I'd like to look at replacing it (sadly!).

Do I have a hope in hell or obtaining finance with a low rating? Is there a way of negating a refusal with evidence that I am in the process of suing?

I would happily lease, however as far as I am aware this would be just as hard as hire purchase?

Thanks

McKneff

If it is their mistake, and you can actually prove it, why is it still there.


What is the basis of you suing them, are they disputing it. If you have definite proof there would be no point.


What happened to get you this default added.

McKneff

I don't think you are going to get any finance in place with a default on your file.


You suing them doesn't mean that you will win and have the default removed.
Thereis a chance that you will lose.

cw212010

It's just a long process as it's been transferred to a court based mediation service rather than going straight to a judge.

They agreed to end my contract with no fee and instead imposed the fee months later after I was long gone and happy elsewhere. Awful service, months of no call backs etc so I ended up starting the court process around 4 months ago.

It is still there through sheer incompetence. It was meant to be removed several times but never does.

MEM62

Why not wait for the outcome of the mediation before applying for finance. Surely the car will last a little longer :-)

McKneff

If they agreed to end your contract and waive the fee, did you get this is writing.

chanz4

one default will be fine on car finance, but op hope you have written evidence or phone calls

CKhalvashi

I very much doubt the car will fall to bits at 130k; I've just racked up 179k in 3 years in a car, and it's still got a lot of life in it yet.

On the original issue, it may be worth waiting until the default is resolved, primarily because it will affect the rate you get if you don't.

Adding a notice of correction may work too, however, but I wouldn't count so much on it.