Default notice pursuant section 87(1)

GeekieGirlie

Hello
I am starting my own DMP and two of my CCs I have stopped payments. One of them Pulse I’ve missed 2 payments and they have sent this: 

‘We are sending you this default notice pursuant to section 87(1) of the CCA’ 

Then says I’ve to pay my arrears by 3/12 and if not they will terminate my agreement and the full balance will become payable. 

Then mentions the stuff about selling to third party which may bring legal action. 

Am I correct in thinking this is basically my notice they give before defaulting me and  I still don’t make any sort of payment plan yet? 

Tia 

sourcrates

Yes indeed, that`s been very quick in coming, usually they drag their feet, but yes, sec 87/1 CCA is the relevant section on defaults.

Give it a few weeks, see what it says on your credit file, and obviously keep an eye on the post.

GeekieGirlie

sourcrates said:

Yes indeed, that`s been very quick in coming, usually they drag their feet, but yes, sec 87/1 CCA is the relevant section on defaults.

Give it a few weeks, see what it says on your credit file, and obviously keep an eye on the post.

Great thank you! 

Yes I am glad it’s quicker than I thought too as my interest and late payment charge each month was £212 so was increasing fast. 

Thanks I’ll keep an eye out for post! 

GeekieGirlie

sourcrates said:

Yes indeed, that`s been very quick in coming, usually they drag their feet, but yes, sec 87/1 CCA is the relevant section on defaults.

Give it a few weeks, see what it says on your credit file, and obviously keep an eye on the post.

I’ve now got another letter from them it doesn’t say default it’s headed Account Terminated. 

And says “We’ve terminated your Pulse Account agreement. This means that your full balance of £****  is now due. Please call us so we can set up an affordable plan to help you repay what you owe.”

Is this a default letter and it’s defaulted? I just expected it to say defaulted on it. Shall I still hold off contacting them until shows defaulted on credit file? Or is this where I now contact to make a repayment plan? Thank you 

RAS

It's the letter they are legally required to send before they are allowed to register a default. Ignore and wait for the default on your credit record, hopefully.

GeekieGirlie

RAS said:

It's the letter they are legally required to send before they are allowed to register a default. Ignore and wait for the default on your credit record, hopefully.

That’s great thank you!