Requesting a default to improve credit rating

User0251287

Anyways moving on from the above and to give and update to those interested or to anyone who may stumble across this post in future in dire need of help in crawling there way out of financial difficulty.

RBS have given me quite the gift this morning! In response to my letter of complaint they have agreed to remove the account from the credit referencing agencies and in light of my claim to unfair treatment enclosed a cheque of £250! I did not expect this at all but really adds weight to those in this position. Financial institutions are agreeing what happened here is unfair and I sincerely hope that anybody affected by this continues to challenge it! I intend to make newday away of the decision made by Barclaycard and RBS in the hope this will overturn there decision without any further escalation! Will keep this up to date. The support I’ve had from old threads has been invaluable! Thank you to those that have helped and not hindered

fatbelly

User0251287 wrote: »

Anyways moving on from the above and to give and update to those interested or to anyone who may stumble across this post in future in dire need of help in crawling there way out of financial difficulty.

RBS have given me quite the gift this morning! In response to my letter of complaint they have agreed to remove the account from the credit referencing agencies and in light of my claim to unfair treatment enclosed a cheque of £250! I did not expect this at all but really adds weight to those in this position. Financial institutions are agreeing what happened here is unfair and I sincerely hope that anybody affected by this continues to challenge it! I intend to make newday away of the decision made by Barclaycard and RBS in the hope this will overturn there decision without any further escalation! Will keep this up to date. The support I’ve had from old threads has been invaluable! Thank you to those that have helped and not hindered

Well done - two down, one to go

Noobily

User0251287 wrote: »

Anyways moving on from the above and to give and update to those interested or to anyone who may stumble across this post in future in dire need of help in crawling there way out of financial difficulty.

RBS have given me quite the gift this morning! In response to my letter of complaint they have agreed to remove the account from the credit referencing agencies and in light of my claim to unfair treatment enclosed a cheque of £250! I did not expect this at all but really adds weight to those in this position. Financial institutions are agreeing what happened here is unfair and I sincerely hope that anybody affected by this continues to challenge it! I intend to make newday away of the decision made by Barclaycard and RBS in the hope this will overturn there decision without any further escalation! Will keep this up to date. The support I’ve had from old threads has been invaluable! Thank you to those that have helped and not hindered

Very informative post!:money:

Did you ever get an update or resolution from Newday?

User0251287

It’s with FOS. Will be sure to update you in due course

Noobily

I tried with NewDay, who maintained they were correct.
I escalated to FoS, who has found in NewDay's favour i.e. DMP Marker was correct, despite clearly being to my detriment for fully repaying my debts, compared to those who couldn't/wouldn't and would've received a Default.

As I see it, there is a clear disparity in the fairness of this.

Moral of the story, If it will take you a number of years to repay, it doesn't always pay to enter a DMP and repay your debts in a creditors eyes. A default would've been favourable over the repayment duration than coming to an Arrangement to Pay/DMP which is what gets reflected on your credit file.

Hope you have better luck.