Virgin Money debt sold but no default?

ellak0pella72

Smith2001uk said:

Hi,

Might be able to shed light on why you haven't been defaulted yet. 

i complained to their department as they defaulted me 14 months after i started my DMP.

Barclaycard registered there's within the 3-6 months guideline even though i was paying them lower amounts.

The reply from the complaint was that because i was paying a lower amount but still paying, it took longer to reach the amount deemed a default by them. Which was 180 days of payments missing, as i paid less over the 14 months it took that long for 180 days worth of full missing payments to be calculated. You may find the default shows up when the new owners of the debt turn up on the file and the January or a later date is registered. 

apologies if it makes no sense, i am not able to explain it properly because to me it makes no sense when other companies follow the 3-6 month guidelines. 

Thanks for commenting. It does make sense. I think my situation is a little different as I stopped paying/ communicating with VM from Jan this year to force the default.

I received a default notice in middle of this year and a letter a month later, confirming they had terminated the credit agreement. account - they just haven't updated the CRA.

I'm now confident the account has been closed/ sold, it's just that their approach to updating records is a somewhat shoddy. I've just set up my self managed DMP payment with Lowell.

However, I will monitor my credit report and if needed, follow up with a complaint if the default still isn't applied (Like you said, I expect Lowell, as the new debt owners, will apply it).

Sly72

My virgin CC all of a sudden dropped off credit report no info at ALL reagarding default. Witihin 3 - 6 months intruim /  capquest will show, with the balance and a defualt date. For some strange reason Capquest knock off 2k of my debt.

ellak0pella72

Sly72 said:

My virgin CC all of a sudden dropped off credit report no info at ALL reagarding default. Witihin 3 - 6 months intruim /  capquest will show, with the balance and a defualt date. For some strange reason Capquest knock off 2k of my debt.

Thanks Sly72, that's good to know - I'll keep monitoring my credit report. Unfortunately my balance appears correct