Affordability Claim Win! Finally.

GeekieGirlie

1 year 2 months and finally got my affordability claim win!!

Never thought I’d get it sorted but it finally happened. November 2024 sent Newday my complaint which they rejected. I sat on it for 5.5 months thinking no point taking further to the FOS. They’d sent a massive lengthy letter explaining why I was wrong. It put me off arguing with them it was so official! Then I decided to go for it after chatting with many of you on here. Thank you. I also knew I had a good case. 

Had many emails back and forth with FOS and I’ve lost count of how many years of statements right up to the last few months I had to find but it was worth it! 

They’ve not sent a letter yet confirming the amount breakdown they have refunded but my credit score shows my two new lower balances. Both cards have had just over 3k cleared off them each. So my debts are now 6.5k less! Once the debts cleared they have also to remove my defaults. Unfortunately it’s going to take a long time to clear the remainder but hey ho..at least they’ll be gone one day. 

Now to just wait for the letter from them to start paying someone. They’ve gone a little radio silent since I made the complaint. I have had nothing but the odd auto email. 

Finally see some light at the end of the dark tunnel since I started my DMP. 

sammyjammy

Thats great news for you, the defaults will be auto removed six years from the issue date regardless of whether the debts are repaid, that debt will also be removed from your credit record.

GeekieGirlie

sammyjammy said:

Thats great news for you, the defaults will be auto removed six years from the issue date regardless of whether the debts are repaid, that debt will also be removed from your credit record.

Thank you. That’s great is the debt removed from record once paid off do you mean? 

RAS

A lot of this depends how the debt is recorded on your credit record.

Defaults are removed after 6 years regardless of whether you pay a penny.

If they use Arrangement to Pay markers, those remain until 6 years after the debt is paid off. When I fist came here some people had been paying off for decades, with AP markers still on their records.

This may be a hybrid, where they issue AP markers but agree to remove them as soon as the debt is repaid?

You might want to clarify?

GeekieGirlie

RAS said:

A lot of this depends how the debt is recorded on your credit record.

Defaults are removed after 6 years regardless of whether you pay a penny.

If they use Arrangement to Pay markers, those remain until 6 years after the debt is paid off. When I fist came here some people had been paying off for decades, with AP markers still on their records.

This may be a hybrid, where they issue AP markers but agree to remove them as soon as the debt is repaid?

You might want to clarify?

They show has defaults still on my credit history so is that how it should be? No mention of AP on there.

ManyWays

well persevered!

Have you made complaints about the other debts in your DMP? Often loans and overdrafts can be easier than cards.

RAS

GeekieGirlie said:

RAS said:

A lot of this depends how the debt is recorded on your credit record.

Defaults are removed after 6 years regardless of whether you pay a penny.

If they use Arrangement to Pay markers, those remain until 6 years after the debt is paid off. When I fist came here some people had been paying off for decades, with AP markers still on their records.

This may be a hybrid, where they issue AP markers but agree to remove them as soon as the debt is repaid?

You might want to clarify?

They show has defaults still on my credit history so is that how it should be? No mention of AP on there.

Good, keep and eye on your credit record and hopefully the default will drop off at the appropriate time leaving no signs of the payment situation.

The whole affordability claims issue is so new that there's no history to reference. So do report back at intervals.

GeekieGirlie

ManyWays said:

well persevered!

Have you made complaints about the other debts in your DMP? Often loans and overdrafts can be easier than cards.

One loan with lendable won. One with bamboo I was rejected but unsure whether any point referring to FOS for that as not sure what I can prove to what they say. Only have bank statements and they did check and confirm income. Is it still worth trying? I borrowed £3k with that one paid over £3k back and still owe £3k and with Lantern now. 

GeekieGirlie

RAS said:

GeekieGirlie said:

RAS said:

A lot of this depends how the debt is recorded on your credit record.

Defaults are removed after 6 years regardless of whether you pay a penny.

If they use Arrangement to Pay markers, those remain until 6 years after the debt is paid off. When I fist came here some people had been paying off for decades, with AP markers still on their records.

This may be a hybrid, where they issue AP markers but agree to remove them as soon as the debt is repaid?

You might want to clarify?

They show has defaults still on my credit history so is that how it should be? No mention of AP on there.

Good, keep and eye on your credit record and hopefully the default will drop off at the appropriate time leaving no signs of the payment situation.

The whole affordability claims issue is so new that there's no history to reference. So do report back at intervals.

Thank you yes will do 

ManyWays

I would send the Bamboo to the ombudsman as you have the bank statements. 

GeekieGirlie

ManyWays said:

I would send the Bamboo to the ombudsman as you have the bank statements. 

Ok will do and see what happens. Thank you ☺️