First default hits…not sure of my plan now

Scarlet_to_Black

As title, first default has appeared on my credit file from NatWest for one of my two credit cards with them. I also had two personal loans with them and all are with Financial Ombudsman for an affordability complaint and I’ve had letters from Moorcroft for all four accounts. NW nor Moorcroft have had any payments at all since February due to the complaint ongoing. I imagine the other three accounts aren’t far behind defaulting as I think this first card was an earlier payment date in the month, possibly why it’s first as all letters have been received shortly after each other for the other accounts. 

Now this one has defaulted, can I still wait and not pay anything at all? Even if more defaults follow and I get all four registered as defaults this month, with FO looking into my complaint? Is that a legitimate reason to not pay, even when defaults are registered until the outcome?  

Also, I cancelled StepChange DMP as per advice here, Sainsburys have restarted letters and say I have broken the arrangement to pay agreement (they only ever received DMP payment in March) and will now restart adding charges/interest on the personal loan (£2.9k) and “take further action”. This is what I want, correct? 

sourcrates

Further action just means they will write to you, they will all default you eventually.

Scarlet_to_Black

@sourcrates thanks. At what point do I start to pay, particularly the ones with FO? 🙏

sourcrates

Whenever it suits you, find a start point somewhere after default, and preferably before any legal action lol.

tigergambit

Scarlet_to_Black said:

As title, first default has appeared on my credit file from NatWest for one of my two credit cards with them. I also had two personal loans with them and all are with Financial Ombudsman for an affordability complaint and I’ve had letters from Moorcroft for all four accounts. NW nor Moorcroft have had any payments at all since February due to the complaint ongoing. I imagine the other three accounts aren’t far behind defaulting as I think this first card was an earlier payment date in the month, possibly why it’s first as all letters have been received shortly after each other for the other accounts. 

Now this one has defaulted, can I still wait and not pay anything at all? Even if more defaults follow and I get all four registered as defaults this month, with FO looking into my complaint? Is that a legitimate reason to not pay, even when defaults are registered until the outcome?  

Also, I cancelled StepChange DMP as per advice here, Sainsburys have restarted letters and say I have broken the arrangement to pay agreement (they only ever received DMP payment in March) and will now restart adding charges/interest on the personal loan (£2.9k) and “take further action”. This is what I want, correct? 

Don't pay towards anything which hasn't defaulted OR is being investigated OR is awaiting a response from the creditor/ DCA.

Once all this is resolved you can tell them how much you are going to pay, but keep payments proportional to amounts owed.

Sainsbury's are quite disorganised in my experience but will eventually default you and send to a DCA. I think they used Capital Resolve in my case but have somehow managed to lose my paperwork between them. Happy days!

TG

Scarlet_to_Black

Great, thanks for your help @tigergambit, I’ll wait a bit longer until the NatWest affordability complaint is resolved.