Hitachi (now Novuna) never defaulted me?! M&S Incorrect default date? how to fix?! Pls help!

nomorecc

sourcrates said:

Dear creditor,

COMPLAINT

Name/address etc

I wish to make a complaint about how you have managed my account with you.

My account number is: xxxx xxxx

My issue

In (insert date/year) I started getting into financial difficulties, as a result this meant I could not afford to service my consumer credit debts, the reasons for this were (insert reasons why you could not afford your debts).

Since (insert date) you have been marking my credit file as "missed payment" a number of years has passed since this first occurred, and so far you have failed to default the account in line with FCA guidance.

This is unfair as it leaves the account in limbo, and will remain on my file indefinitely, instead of been removed after 6 years if it had been defaulted.

What I want you to do

Please issue a default for this account, and backdate it to (inset date) to bring the account into line with FCA guidance.

I understand you have 8 weeks to issue a final response, and if I remain unsatisfied, I can escalate the matter to the FOS and the ICO.

yours sincerely

nomorecc

@sourcrates Genuinely, thank you so much... should I e-mail this to them?

That seems like the faster and more proper / appropriate route?

nomorecc

Update: Sent by email!

ManyWays

Good to get your credit record sorted out, it may help to know that the credit reporting SCOR guidelines for lenders say that a default should be added to a credit record when you are 6 months in arrears.

BUT this debt will never become statute barred as you are paying it. What is your plan for sorting it out? Are your finances much better? 

nomorecc

ManyWays said:

Good to get your credit record sorted out, it may help to know that the credit reporting SCOR guidelines for lenders say that a default should be added to a credit record when you are 6 months in arrears.

BUT this debt will never become statute barred as you are paying it. What is your plan for sorting it out? Are your finances much better? 

Not loads to be honest

nomorecc

Thanks @sourcrates they have agreed the date is wrong and are backdating it to 2019 and will drop off later this year, very nice person that I spoke to and very helpful.

np1v08

nomorecc said:

So, in July 2019 I made some very bad financial decisions, I'm in serious debt and can no longer afford my loans or credit cards.

I contact all my creditors and offer £1 a month for all of my accounts ( did this without StepChange ) and have continued to pay them on time every month.

Long story short it's been 6 years now since all of this expecting to see defaults dropping off my credit file and low and behold of course that's not the case..

First missed payments were in July 2019

However, M&S did not Default my account until 14 July 2021!?! 

Additionally Hitachi (now Novuna) still have not defaulted me and I owe them £20k+...

As I'm SO close to getting past the default stage, I don't now want another default especially as M&S took their SWEET time to default me.

HOW CAN I CORRECT THESE DATES, usually default should be on my file 3 or so months after missing the first payment!?

HELP!

TYIA!

I have just this week phoned M&S to ask them to change the default date for my account with them. I was given this number to call: 0345 850 0621 (or freephone 0800 345 7401). This is a direct line to the customer complaints team, who appear to be based in the UK. 

I mentioned the ICO guidelines and made it clear I would be prepared to escalate to the Financial Ombudsman, if necessary. I have to say they have acted very promptly, and after looking into my account history, they replied by email within 24 hours confirming they would amend my default date from October 2020 to March 2020. I had hoped it would be December 2019, but they had originally given me 2 months' 'breathing space', which delayed the default and demand process. I remember being very grateful for it at the time, so I can hardly complain now! 

Anyway, this seems to be the M&S official line when it comes to defaults (direct quote from my email):

"When defaulting accounts, we will usually take action when the account is at least 180 days past due.

While there is no single ICO guideline specifying an exact default date, it indicates that a default is generally recorded when an account has been in arrears for three to six months, following a breakdown of the repayment relationship. Different banks will have their own interpretation of these guidelines and will implement their own policies and procedures regarding this."

If you would prefer to email rather than phone, this is the email address: complaint@mandsbank.com

If I had been asked to email them, I would have included the following sort of information:

Include key details, such as:

1. When you first missed payments (e.g., “I stopped making full payments in early 20xx)

1. When you set up a repayment plan (e.g., “I entered a DMP with xxx in xx 20xx)

1. What other creditors did (e.g., “Other lenders defaulted my debts in xxx)

Then state what you want the lender to do, for example:

1. “You should backdate the default to XXX based on ICO rules.”

I would be grateful for a prompt response but in the event I do not receive a response within 8 weeks, I will escalate my complaint to the Financial Ombudsman. 

Good luck!

Nasqueron

np1v08 said:

nomorecc said:

So, in July 2019 I made some very bad financial decisions, I'm in serious debt and can no longer afford my loans or credit cards.

I contact all my creditors and offer £1 a month for all of my accounts ( did this without StepChange ) and have continued to pay them on time every month.

Long story short it's been 6 years now since all of this expecting to see defaults dropping off my credit file and low and behold of course that's not the case..

First missed payments were in July 2019

However, M&S did not Default my account until 14 July 2021!?! 

Additionally Hitachi (now Novuna) still have not defaulted me and I owe them £20k+...

As I'm SO close to getting past the default stage, I don't now want another default especially as M&S took their SWEET time to default me.

HOW CAN I CORRECT THESE DATES, usually default should be on my file 3 or so months after missing the first payment!?

HELP!

TYIA!

I have just this week phoned M&S to ask them to change the default date for my account with them. I was given this number to call: 0345 850 0621 (or freephone 0800 345 7401). This is a direct line to the customer complaints team, who appear to be based in the UK. 

I mentioned the ICO guidelines and made it clear I would be prepared to escalate to the Financial Ombudsman, if necessary. I have to say they have acted very promptly, and after looking into my account history, they replied by email within 24 hours confirming they would amend my default date from October 2020 to March 2020. I had hoped it would be December 2019, but they had originally given me 2 months' 'breathing space', which delayed the default and demand process. I remember being very grateful for it at the time, so I can hardly complain now! 

Anyway, this seems to be the M&S official line when it comes to defaults (direct quote from my email):

"When defaulting accounts, we will usually take action when the account is at least 180 days past due.

While there is no single ICO guideline specifying an exact default date, it indicates that a default is generally recorded when an account has been in arrears for three to six months, following a breakdown of the repayment relationship. Different banks will have their own interpretation of these guidelines and will implement their own policies and procedures regarding this."

If you would prefer to email rather than phone, this is the email address: complaint@mandsbank.com

If I had been asked to email them, I would have included the following sort of information:

Include key details, such as:

1. When you first missed payments (e.g., “I stopped making full payments in early 20xx)

1. When you set up a repayment plan (e.g., “I entered a DMP with xxx in xx 20xx)

1. What other creditors did (e.g., “Other lenders defaulted my debts in xxx)

Then state what you want the lender to do, for example:

1. “You should backdate the default to XXX based on ICO rules.”

I would be grateful for a prompt response but in the event I do not receive a response within 8 weeks, I will escalate my complaint to the Financial Ombudsman. 

Good luck!

There are no "ICO rules" only guidelines so that already makes you look like you used an AI chatbot or something. 

What other firms did is irrelevant as M&S (or any other firm) doesn't make decisions or policies based on another firm's actions.

Threatening with the FOS from the off because you don't like their internal policies which are within the guidelines will just give someone a giggle because they know full well that the FOS has no power to make them do anything in relation to a correctly applied default.

Far better to ask nicely if they would consider doing it by explaining the harm on your record - given that you owe them money and aren't repaying it, a nice approach is far more likely to get a response that you desire than trying to pressure them