Default Issue

Cogsy_neil

Hi all I am hoping someone can help or advise me here. Basically back in 2019 I had to go into a DMP which wasnt an easy decision as I work in Financial Services, this was all due to the break up of my marriage due to my ex-wife going bankrupt.

The issue I have is that although the DMP was set up in 2019 and all debts were included for some reason HSBC were just reporting payments on my credit card and personal loan as just missed payments! Eventually in June 2022 they applied a default on my credit card and on my personal loan in October 2023. I have no idea why they did this and instead of the defaults disappearing next year I have another 5 years before I am default free.

I am trying to apply for a mortgage but have been unable to because I have a default in the last year.... 

Is there anything I can do here? Obviously I still owe a fair bit of money to HSBC so I dont know if I can contact them and complain about it incase they demand the repayment of the money, or even worse decide to go for a CCJ (I would lose my job!) is there anyone I can complain too? I feel im being victimised in a way for something that happened over 5 years ago and am still a long way off being able to free of it.

Thanks in advance

Brie

Have you tried putting a comment on your credit reports to say that the debt should have defaulted years earlier?  Not sure it that would help or not!

Did you want to post back with more details about the HSBC thing?  Or message me??  Not sure I'll have an answer but I can think about it at least!!! (current thought is that a bank won't CCJ if they don't have to but obviously that might depend on what happened.)

ManyWays

Are you talking to a mortgage broker, because the bigger problem can be the unsatisfied default rather than the date of the default.

Cogsy_neil

ManyWays said:

Are you talking to a mortgage broker, because the bigger problem can be the unsatisfied default rather than the date of the default.

Thanks I’m the mortgage adviser lol. And yeah I realise the fact it’s unsatisfied isn’t great although if they had applied it at the right time then next year it wouldn’t be on my report anyway. I know I’m not going to get a high street lender. I bought my ex wife’s share of the property from the bankruptcy trustee so I need to get her off the title and therefore a remortgage is the only way.

Cogsy_neil

Brie said:

Have you tried putting a comment on your credit reports to say that the debt should have defaulted years earlier?  Not sure it that would help or not!

Did you want to post back with more details about the HSBC thing?  Or message me??  Not sure I'll have an answer but I can think about it at least!!! (current thought is that a bank won't CCJ if they don't have to but obviously that might depend on what happened.)

I’ve decided to raise as a complaint to HSBC and see what happens. Ultimately if they did decide to do a ccj then they wouldn’t get any money back as I would have no job and wouldn’t be able to pay lol so will see what happens. Just seemed a bit unfair that I had a life event and if I can’t do anything about the date of defaults it’s going to be nearly 10 years before I’m default free.