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Defaults
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Sly72
Posts: 207 Forumite
Can anyone provide any guidance on when defaults should be applied on the FCA website, reason for asking is i have something to direct them to.
Thinking ahead that's all.
Thinking ahead that's all.
I have Dyslexia which is a learning difficulty that primarily affects the skills involved in accurate and fluent word reading and spelling so some post may not make sense.
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Section 87 Consumer Credit Act 1974 -
Consumer Credit Act 1974 (legislation.gov.uk)
A default notice is normally sent when you've missed or paid less than the full amount, for between three to six months.
Remember this is just guidance, it is not set in stone -
Principles-for-the-Reporting-of-Arrears-Arrangements-and-Defaults-at-Credit-Reference-Agencies-vesrion-2a-final.pdf (secureservercdn.net)
Section (4) covers defaults.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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