Default removal

BRB881

Hi,

Has anybody successfully had a default removed? 

We have recently had a default applied to an account following one missed payment. Payment was due on 3rd October and default logged on 25th!

it feels like a very disproportionate reaction to one missed payment 

Ebe_Scrooge

BRB881 said:

it feels like a very disproportionate reaction to one missed payment 

In what way is it disproportionate?  It's an accurate record of the facts.

But an isolated error in an otherwise well-managed credit history will have a very small impact - and the impact will lessen as time goes on.

summerb64

Was it an actual default on the account or 1 missed payment, defaults usually are applied after 3 missed payments?

BRB881

summerb64 said:

Was it an actual default on the account or 1 missed payment, defaults usually are applied after 3 missed payments?

Yes it’s an actual default. They’ve closed the account and defaulted me after a missed payment that was due on 3rd October! 

JCS1

is this the car insurance default you mention in your other thread?

BRB881

JCS1 said:

is this the car insurance default you mention in your other thread?

Yes it is 

impoverishedtraveller

Perfectly normal for insurance credit agreements:

https://www.stepchange.org/debt-info/insurance-debts.aspx

Basically, a missed payment that isn’t settled quickly will more than likely void the policy, hence the quick timescale between missing the payment and default.

BRB881

Good news… We contacted close brothers yesterday and apologised for our error, as well as outlining how stressed we were over the default after just one missed payment. 

We received an email back informing us that the default would be removed within 28 days, along with an offer to reinstate the finance agreement! 

Very happy