default notice

smileykylie_2

I have a car loan. recently they called me to say that my direct debit could not be collected. The day they called was my pay day and I told them there was plenty of money so could they take the payment today please. I got a call about a week later (while on holiday) and told I was in arrears, so I paid on my card. When i returned from holiday i found a default notice in my post. Does this show on my credit file?? I am pretty angry as I asked them to take it the day they made the first call and they did not say that they could not. If this is on my file can I get it removed??

Thanks

Butlers1982

One missed payment is not a default, it is just a missed payment. To get a default you usually have to have missed 3 payments.
Once you have a default it will stay on your credit file for 7 years,even if you pay it off straightaway.

Some companies allow you to miss upto 6 payments before they default you, so you need to contact them and ask them if they have put a default against the agreement.

If so then it now means you have "adverse" credit and you will struggle getting high street finance

inmypocketnottheirs

smileykylie... Firstly it is probably not an actual default notice, but more likely a notice that they will issue a default notice, if you know what I mean.

Secondly, kylie, love your bum!

smileykylie_2

Thanks will check the notice and see if it is an actual default.

PS Wish I was THAT kylie - no need to be on this site!!!

Badger_Lady

Yeah - Egg recently sent me a "Default Notice" (same situation as you), and it was actually "We will apply a default to your credit file if you don't contact us to sort out your arrears". It wasn't an actual default at all.

All my **** financial services companies have messed me around with this since I moved, purely because they can't get their 4rses into gear and process my paperwork in time! I moved house and changed bank account, and wrote to every individual company to inform them, but some have taken 2-3 months to process and have therefore started chasing me for "missing payments"!!!!

The worst one is my mortgage - I visited the old flat at the weekend to find three notices from an "Arrears Counsellor" saying "I called on DD/MM at 6pm, sorry I missed you". Of course he missed me, I don't live there! And I'm not in arrears any more, since the company finally starting taking my Direct Debits again last week!!!

What's wrong with these people?

AND, even though there isn't a default being applied here in mine and the OPs cases, won't it still show up with a "late payment" (i.e. a 1 instead of a 0)? Is there anything we can do about that?

Butlers1982

Is there anything we can do about that?

1 missed payment doesnt affect your credit file at all to be honnest. If you ring them (the bank) and ask them to update it, they probably wont be able to now but i assure you it doesnt affect your credit

Badger_Lady

Yeah, but what about 1-2 missed payments from every single company (phone, mortgage, credit cards...)?

Butlers1982

Yeah, but what about 1-2 missed payments from every single company (phone, mortgage, credit cards...)?

Then thats different and that shows that you constantly miss payments on your outstanding credit.
Then it will show as being moderate/high risk.

Badger_Lady

Butlers1982 wrote:

Then thats different and that shows that you constantly miss payments on your outstanding credit.
Then it will show as being moderate/high risk.

Then what can I do about it, since it's the fault of the companies for failing to process my DDI? I've got the money, have had it all the way through, and am now up-to-date with them again - they just failed to collect it in time. Why should that make me moderate/high risk, and how can I prove otherwise?

inmypocketnottheirs

smileykylie wrote: »

PS Wish I was THAT kylie - no need to be on this site!!!

Lol

You would probably be on a dating site I guess!