Urgent Debt Advice

Callum1510

Thanka how do i know when i have received officia default? How will this show on credit report? 

Also had email today off Moorcroft debt recovery about my Aqua. I have had email off them before even getting anything off Aqua to advise me it is being passed to dwbt recovery! I assume i just wait and don’t reply to them until i see the default on my credit reports? 

Thanks 

13thlegion

Callum1510 said:

Thanka how do i know when i have received officia default? How will this show on credit report? 

Also had email today off Moorcroft debt recovery about my Aqua. I have had email off them before even getting anything off Aqua to advise me it is being passed to dwbt recovery! I assume i just wait and don’t reply to them until i see the default on my credit reports? 

Thanks 

Important and official stuff comes by post, not by email.

Callum1510

Had this letter today from moorcroft and exactly same letter from them about my aqua credit card. I guess just ignore and keep waiting for the default. Can anyone tell me how I know once the default is on my Experian? Is there a certain symbol I look for? Like missed payment is a Red Cross is there one when the account is in default I can look for? Once I see this I can then negotiate with moorcroft a payment plan

thanks 

Callum1510

Below letter 

sourcrates

When a lender is about to default you, you will or should, get a letter in the post.

It will be clear what it is, it will say something like this:

THIS IS A DEFAULT NOTICE ISSUED UNDER SECTION 87(1) CONSUMER CREDIT ACT 1978.

It will go on to tell you:

"you have 14 days to remedy the breach to your account, otherwise a default will be registered with the credit reference agencies".

It will then list the possible consequences of defaulting.

So all of this is just for information purposes only in your case, you don`t need to do anything, just let the process complete, and once the default is registered it will show on the account entry as a big red "D" along with the date it defaulted.

As for the letter above, read it again, it states:

"OUR CLIENT HAS NOT YET REGISTERED A DEFAULT ON THIS ACCOUNT"

They are acting as collection agent only, just as it says in the letter, so the advice is as before, ignore them, they will then return the account to the lender, and then hopefully it will be defaulted.

Sometimes a debt is passed to a collector before default just to collect the arrears, after all they don`t know your intentions, so are trying to keep you as a customer.