Defaults on file is this correct?

KatieShopstoomuch

Hi everybody, I know very little about CRA and how it all works! Bit of background - I had myself in an awful financial mess between 2010-2013 and finally only getting it sorted out now in the past 6 months. I had edged towards a debt relief order but was fortunate enough to become in a position to offer full and final settlement offers.

Anyway now that I've dealt with my debt and want to repair my horrific credit reports I have been skimming through them.

My query is I had four loans with lending stream :eek: these were then passed to collection agency MMF.

On my experian report there are 4 defaults from lending stream and 4 defaults from MMF. So that is 8 in total is this how it should be? I thought if MMF took the debt the defaults would be under them and no longer under lending stream or is this the norm?

biplobiht

I thought if MMF took the debt the defaults would be under them and no longer under lending stream or is this the norm?

sourcrates

If lending stream have sold the debts to MMF then the defaults should be in MMF`s name, but with the original lending stream default date.

If thats not so, complain through the CRA`s "report a problem" option, you can write to both companies concerned also.

As a side note, are you aware of the reclaiming of interest and charges on payday loans ?

Info here :

https://debtcamel.co.uk/

KatieShopstoomuch

Yeah I thought that, I thought it would be 4 defaults under the DCAs name but its 4 under each name which is even worse looking - if that is possible!

KatieShopstoomuch

Yes sourcrates - I have just recently found the information and found the posts on the forum about reclaiming so I have started the ball rolling with that also. So annoyed that its taken me so many years to sort and will take many more years to repair my credit rating but I live and learn!

cjmillsnun

I had the same. But under the Lending Stream default is "debt assigned to a CAIS member"