Defaults - so upset and confused

happybunny86

Hello everyone,

Happy new year.

I went on to a dmp in July 2010. I believed my debts would all default at this point but it appears I could be wrong.

I had a credit card with vamquis bank as part of this DMP. I left my DMP a few ,on this early as I had a messy break up there were a couple of months where I couldn't make payments. In this time the debt got sold on to another company hoist.

In July 2015 they added a new section on to my credit file to say that I had defaulted my account with them in Feb 2014. They've said this is the info vanquis gave to them. I've spoken to vanquis and they say that's when the default occurred not when I went on to the DMP.

I'm really upset because I've been working so hard to get everything paid off so I can move forward and get a mortgage that this seems unfair. I'm loosing the will a bit. I keep getting another curve ball ev time

climbingoutoftheabyss

Don't despair, I went through a very similar experience myself.

I went on to my DMP in 2008 and Lloyds TSB defaulted me in 2012.

I went through the official channels with Lloyds TSB but without sucess so then complained to the Financial Ombudsman. I explained that the default occoured at the time I got in to financial difficulties and went on to a DMP. The ombudsman found in my favour and the default was removed from my credit file.

Follow this link:

http://www.financial-ombudsman.org.uk/consumer/complaints.htm

And once you've exhausted all channels with Vanquis then lodge a complaint.

When I did this Lloyds were adamant that they were correct, the ombudman said they were wrong. So, don't let it get your down, it can be resolved!

happybunny86

Thank you. Finally stopped crying now! The problem seems to be Vanquis and Hoist passing the buck and both saying its one another's fault. Do you happen to have a copy of what you sent to the financial ombudsmen? I'm not very good at this I don't know what to write

climbingoutoftheabyss

I don't have copies now as it was a few years ago, but basically your argument that you defaulted on your account in July 2010, this is the correct date of the default and your credit record should be amended to show this date.

Just list to the ombudsman the events in order and a sentance with the above and they will investigate.

I've been on a DMP since 2008 owing over £45,000. There have been many lows and I know what you mean about being knocked back, but keep believing and keep positive. I started with that amount, but now owe just £2,100. I will have paid this off in full in 3-4 months.

During the last 7 years I've been made redundant twice, had lots of hassle from creditors and many knock-backs but you just have to keep going. On several times when I've been knocked I've had something good happen that compensates.

Something good is around the corner.:D Keep smiling

happybunny86

Thanks ever so much for your kind words. It sounds like you've had a hell of a time and done amazing to come through the other side.

I just really feel like I'm beginning to hold my partner back. We wanted to get a mortgage in April. We tried last year but I needed to wait until all the defaults on my account were 3 years old so I'm really hoping this isn't another set back.

happybunny86

Just a final thought. How long did it take to get resolved with the financial ombudsmen?

climbingoutoftheabyss

Well you'll stand a much better chance of getting a mortgage with no defaults, and it will certainly be a better rate. But even if you get the default date moved back to 2010 it still remains on your record for 6 years, so it would be removed July this year.

However, if you push and win at least you've made a start.

But don't let them fob you off, fight them all the way ;-)

happybunny86

Our mortgage advisor mentioned I think it was Woolwich will look at people who have defaults of 3 years old (unfortunately I have a couple of others) thought that might help others

20aday

I'm guessing when you entered into your DMP you'd missed six months' worth of payments "on time" (for them to be listed as a 'Default')?

You mention your credit file. In the section where it's been incorrectly listed as a 'Default' what does it say in terms of Status History?

Just wondering because it might be working checking what's been reported (by Vanquis) there?

This is taken from my Noddle report (as an example):



I hope you manage to get it resolved OP; I was in a DMP many years ago and ended up with Arrangements to Pay instead of Defaults.

Found a really useful post on here and managed to get them removed from my credit files up to three months' earlier than they would've dropped off (if I'd have defaulted they would've lapsed in 2011 not 2014!)