Help Needed Regarding Default on my credit score

Kieran2210

Hi everyone,

I have been told to come on here for advice which im hoping to get some help.

I had a little loan from a company called close brothers finance for around £400, i had 12 payments & i cancelled my direct debit after 10 payments as i thought i had finished my payments. So they have sent my debt to a debt collecting agency for £110 which i paid straight away as i didn't know i had payments left, i paid the debt collecting company straight away. I phoned Close Brothers to dispute this & they said they tried ringing me once but went to voicemail & didn't leave me a message, i don't have access to my old email address which they said they emailed me but didn't send me a letter to my house. So they have put a default on my credit which i have had a perfect credit rating, i have had over £50k in loans & all paid off before the due dates, never miss any payments on credit cards nothing & now me & my partner want to get a mortgage & cant due to my credit score. Close brothers refuse to take it off but my bank said they can but they are just been funny. The default has only been put on my credit score in February 2018.

Can anyone give me any advice on how to get it removed as i want to get a mortgage & cant for 6 years with this on my account & was a genuine mistake & only for £110. I have worked so hard & done so many hours overtime to save for 4 years to get my deposit as a first time buyer & Close Brothers are not helping me at all. I feel they are been very unfair & feel they haven't made effort to contact me as no letter to my house or phone call (which they said they tried only once). I have always paid money back & my credit score was perfect until this which is annoying that 1 wrong can ruin 30 rights! Or is they a way i can get around this to still get a mortgage?

Willing2Learn

Hi Kieran2210 and welcome to the forum

Ignore your credit score, (a mortgage provider cannot see it and neither do they use it), and get your mortgage via a broker.

If the default is correct, and you defaulted from your Credit Agreement, then it is unlikely that your creditor will remove the marker. If you feel they should have made more of an effort to contact you regarding the missing payments, then you should write to them, with an official complaint.

Kieran2210

Willing2Learn wrote: »

Hi Kieran2210 and welcome to the forum

Ignore your credit score, (a mortgage provider cannot see it and neither do they use it), and get your mortgage via a broker.

If the default is correct, and you defaulted from your Credit Agreement, then it is unlikely that your creditor will remove the marker. If you feel they should have made more of an effort to contact you regarding the missing payments, then you should write to them, with an official complaint.

Thank you

Well i applied with my Bank Halifax & they said i failed the credit score check & wont help me. It is very frustrating that i have had a perfect credit score all my working life & one problem over £110 has done this to me

[Deleted User]

Kieran2210 wrote: »

Thank you

Well i applied with my Bank Halifax & they said i failed the credit score check & wont help me. It is very frustrating that i have had a perfect credit score all my working life & one problem over £110 has done this to me

The credit score you see is made up. You don't know what your real credit score has been your working life because lenders don't tell you what it is - it varies by lender and product.

The credit score you have failed is the one that Halifax have created from your application.

The default will reduce in impact as time goes by.

sourcrates

Kieran2210 wrote: »

i had 12 payments & i cancelled my direct debit after 10 payments as i thought i had finished my payments.

Hi,


Can i just ask you, why, when you knew you had 12 payments, did you cancel after 10 ?


You made the error unfortunately, you should of checked before canceling the DD.


For them to of passed this to a DCA, quite some time must of gone by, technically you broke the terms of the credit agreement, and as ignorance is no defense, a default was, quite rightly applied to your credit file.


You can write and plead for forgiveness, ask them if on this occasion, you know you were in the wrong, but could they please remove said default as it was an error on your part, and was settled as soon as you were aware of it.


Thats about all you can do i`m afraid.

Blackbeard_of_Perranporth

My bank once refused me. I used my legs and walked.

madvicker

Kieran2210 wrote: »

I had a little loan from a company called close brothers finance for around £400, i had 12 payments & i cancelled my direct debit after 10 payments as i thought i had finished my payments.

Logic....

The default is accurate and they have no incentive to remove it. Defaults tend to be a difficult thing to overcome for a mortgage application unless they are at least 3 years old. Newer defaults will generally be accepted only by specialist lenders, and anything within 1 year - forget about a mortgage.

foxy-stoat

Use a broker - they should be able to place you with a lender that is suited to your financial circumstances.

Forget about trying to remove the default, you defaulted on your credit agreement - thats it.