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  • FIRST POST
    • Goldstar28
    • By Goldstar28 11th Aug 18, 4:12 PM
    • 8Posts
    • 2Thanks
    Goldstar28
    Challenging a default
    • #1
    • 11th Aug 18, 4:12 PM
    Challenging a default 11th Aug 18 at 4:12 PM
    Hiya

    Basically I've had a default on an account that is 3 years old. So another 3 to go.

    It was from a credit card balance that I could not pay at the time. The bank that I had it with just sent me a letter with a cheque in it this week, explaining they did not take into account my circumstances at the time and were apologising for the interest and fees they had attached on the balance and refunded me a fair amount of money back.
    I called the bank and they've validated the letter and cheque and apologised again.

    I'd like to know if this is something I could use to challenge the default??
Page 1
    • glentoran99
    • By glentoran99 11th Aug 18, 4:13 PM
    • 5,476 Posts
    • 4,661 Thanks
    glentoran99
    • #2
    • 11th Aug 18, 4:13 PM
    • #2
    • 11th Aug 18, 4:13 PM
    simple answer no
    • T-G-C
    • By T-G-C 11th Aug 18, 4:22 PM
    • 406 Posts
    • 196 Thanks
    T-G-C
    • #3
    • 11th Aug 18, 4:22 PM
    • #3
    • 11th Aug 18, 4:22 PM
    The default is 50% progressed to expiration and as far as I can tell, it was placed in accordance with standard practice, therefore it cannot be removed.

    If the lender has recovered costs for interest etc. it doesn't change the fact that the debt reached the default stage. Learn from it and do not accrue more unbearable debt in the future.
    All advice provided is intended for guidance purposes only. For specialized debt advice, please contact either National Debtline or StepChange.
    • Gary_Dexter
    • By Gary_Dexter 11th Aug 18, 5:42 PM
    • 2,351 Posts
    • 1,319 Thanks
    Gary_Dexter
    • #4
    • 11th Aug 18, 5:42 PM
    • #4
    • 11th Aug 18, 5:42 PM
    They!!!8217;ve only refunded interest and fees

    I take it the debt is still there though and you do indeed owe a balance of money?
    • Willing2Learn
    • By Willing2Learn 11th Aug 18, 6:41 PM
    • 1,599 Posts
    • 1,212 Thanks
    Willing2Learn
    • #5
    • 11th Aug 18, 6:41 PM
    • #5
    • 11th Aug 18, 6:41 PM
    ...Basically I've had a default on an account that is 3 years old. So another 3 to go.

    It was from a credit card balance that I could not pay at the time. The bank that I had it with just sent me a letter with a cheque in it this week, explaining they did not take into account my circumstances at the time and were apologising for the interest and fees they had attached on the balance and refunded me a fair amount of money back.
    I called the bank and they've validated the letter and cheque and apologised again.

    I'd like to know if this is something I could use to challenge the default??
    Originally posted by Goldstar28
    If you defaulted on the Credit Agreement then the default is correct, regardless of the circumstances. It was good of the bank though to refund fees and apologise
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Goldstar28
    • By Goldstar28 12th Aug 18, 12:51 PM
    • 8 Posts
    • 2 Thanks
    Goldstar28
    • #6
    • 12th Aug 18, 12:51 PM
    • #6
    • 12th Aug 18, 12:51 PM
    no fully paid the balance in march
    • Willing2Learn
    • By Willing2Learn 12th Aug 18, 1:16 PM
    • 1,599 Posts
    • 1,212 Thanks
    Willing2Learn
    • #7
    • 12th Aug 18, 1:16 PM
    • #7
    • 12th Aug 18, 1:16 PM
    no fully paid the balance in march
    Originally posted by Goldstar28
    But you said you defaulted on the credit agreement three years ago when you said you had a "...credit card balance that I could not pay at the time...".
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • macman
    • By macman 12th Aug 18, 6:20 PM
    • 42,722 Posts
    • 17,986 Thanks
    macman
    • #8
    • 12th Aug 18, 6:20 PM
    • #8
    • 12th Aug 18, 6:20 PM
    no fully paid the balance in march
    Originally posted by Goldstar28
    Clearing the debt (albeit 3 years later) does not remove the record of the default, unless paid within one month. Your credit history accurately records the default.
    The record should however note that the debt is now satisfied.
    No free lunch, and no free laptop
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