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Default - Someone please help!
Velli
Posts: 70 Forumite
Took out 118 loan (1000) in Oct 2015.
Failed to make any payments past Nov 2015. (Outstanding 1200)
Checked my Noddle and Experian credit file and notice BB & Status 6 was noted every month until Jul 2017 when a default should have been placed in May 2016.
I would like to write them a cheque for the full amount however would rather the clocks were reset to May 2016 and not Jul 2017.
How do I go about this situation?
Failed to make any payments past Nov 2015. (Outstanding 1200)
Checked my Noddle and Experian credit file and notice BB & Status 6 was noted every month until Jul 2017 when a default should have been placed in May 2016.
I would like to write them a cheque for the full amount however would rather the clocks were reset to May 2016 and not Jul 2017.
How do I go about this situation?
0
Comments
-
Hi,
The lending code states that a default should be registered after between 3-6 missed contractual payments have accrued.
You should write to the lender and ask them to comply with the above, and backdate the default for you.
Use it as a bargaining chip in negotiations to settle the debt.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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