Defaulted on F & F Settlements as a victim in accident

silburbas

What it means is it goes to a human rather than "computer says no"

So it could go to the lender to discuss the situation and perhaps I guess it lies with the underwriter to have the final say, but this is better than being rejected outright.

However the problem is, while I am in this state, it does not look good trying to make application and keep being rejected until I find a lender who has a sympathetic ear. So still can't win can I?

silburbas

glentoran99 wrote: »

its still a default though, just a partially settled one, the other ones you mention should partially settled too if you've paid them so contact the companies involved and get that fixed

All of my debt have been marked as partially settled which I accept, it is just that one or two have marked as default which has a bigger impact. I have thought they all be partially settled and not marked as default as explained.

fermi

Have a look through..

https://forums.moneysavingexpert.com/discussion/3172602

including the link to the earlier guidance.

If you think after that things have been done incorrectly or unfairly, then make a formal complaint to whoever has place the info you disagree with. Make sure it is clear in any complaint that you will be taking them to the Financial Ombudsman if you receive any response that you are not happy with.

Can also complain to the ICO eventually, but practically for a consumer the FOS is probably the best to go to first as they have the ability to issue legally binding decisions on the creditor and award redress, not to mention charge the creditor case fees they may want to avoid.

glentoran99

silburbas wrote: »

All of my debt have been marked as partially settled which I accept, it is just that one or two have marked as default which has a bigger impact. I have thought they all be partially settled and not marked as default as explained.

If they have been paid off they should be marked as partially settled, but that doesn't take away the default

glentoran99

silburbas wrote: »

So it could go to the lender to discuss the situation and perhaps I guess it lies with the underwriter to have the final say, but this is better than being rejected outright.

However the problem is, while I am in this state, it does not look good trying to make application and keep being rejected until I find a lender who has a sympathetic ear. So still can't win can I?

You wont get a chance to discuss it as such, it just means a human will look at the whole picture

silburbas

glentoran99 wrote: »

You wont get a chance to discuss it as such, it just means a human will look at the whole picture

What human is this? The CRA's human before giving a score? The lender?

glentoran99

silburbas wrote: »

What human is this? The CRA's human before giving a score? The lender?

Ignore the score the CRA gives its irrelevant


It means and applications for credit would be reviewed by an underwriter rather than outright rejected by computer

takman

How come you didn't fully pay off your debts when you had your settlement?. You can't expect to be able to get more credit when you never paid off any of your debts fully.
It seems to me that you had too much credit and didn't have any savings to fall back on if your couldn't work. Just take this as a lesson and start building up and emergency fund. I wouldn't get a car on finance just save up and get a second hand car it will be a lot cheaper.

silburbas

takman wrote: »

How come you didn't fully pay off your debts when you had your settlement?. You can't expect to be able to get more credit when you never paid off any of your debts fully.
It seems to me that you had too much credit and didn't have any savings to fall back on if your couldn't work. Just take this as a lesson and start building up and emergency fund. I wouldn't get a car on finance just save up and get a second hand car it will be a lot cheaper.

You have a good point but it was the case where my emergency funds dried up after months of no interim payment, and the reason for the full and final settlement was the uncertainty at the time where we thought going back to my job was not going to happen until we had breakthrough due to poor medical examination and lack of initial treatment due to insurance red tapes!

The amount paid for the creditors monthly before was easily paid and never missed a payment so it not the case of too much credit. The lump sum received was only half the total credit owned. Had I knew about being defaulted we could as I said pay half in full and pay on the rest of them which would be easily managed now.

glentoran99

silburbas wrote: »

You have a good point but it was the case where my emergency funds dried up after months of no interim payment, and the reason for the full and final settlement was the uncertainty at the time where we thought going back to my job was not going to happen until we had breakthrough due to poor medical examination and lack of initial treatment due to insurance red tapes!

The amount paid for the creditors monthly before was easily paid and never missed a payment so it not the case of too much credit. The lump sum received was only half the total credit owned. Had I knew about being defaulted we could as I said pay half in full and pay on the rest of them which would be easily managed now.

You would still have been defaulted as you hadn't meet contractual payments, regardless of the cause