Default Removal

[Koptrader]

Re: Default Removal

Nope but he may need to utilise the FOS at a later stage so why ruin it with a half feebled attempt? Not worth the hassle IMO....

Now, that changes things - can we clarify were these charges or PPI fees? If PPi then forget it, if not and they were purely bank charges then you can argue this as a valid dispute, so fine - when it happened can you show me a copy of your complaint to the bank and their final response and also confirm it was within the last 6 months?

Obviously, you can see where I am going with this......

Not sure what you want from me...I wrote to Halifax about the default about a month ago. They defaulted me in 2008 and refunded the credit card charges in 2009...It was only last month that I wrote to them when I realised the default was still there

[Never-In-Doubt]

Re: Default Removal

I'm thinking the same thing, I have wrote to Halifax and requested that they remove the default, they refused so I haven't pushed further, yet! But I suppose, it classes as complaint for the purpose of FOS

Thanks
KT

Does it? I think not. You need to have valid cause of complaint then take it up with the bank then upon a final response you then utilise the FOS.

I'm not being awkward but people need to realise that a lender's last resort is to add a Default cos they know they can do little else. Hence they issue them without fail nowadays - it's all they have left in their arsenal to hurt us with....

As above, if the account was purely defaulted due to unlawful charges then fine, it's got merit. If not, then sorry you'll be wasting a lot of time for little return

[Never-In-Doubt]

Re: Default Removal

What about Natwest, do you not think they would look favourably on settling the full account in return for removal no?

Thanks
KT

Natwest are RBS ie part of the McGuffick case that set the precedent - you've more chance of winning the lottery for 6 consecutive weeks than getting RBS to remove it.... sorry mate.

[mgfboy]

Re: Default Removal

If the default was in 2008 and you have had a clean credit record since, there is a chance that you can get a mortgage ( i know of one lender only that may do it).

You will need a fair deposit though.

[Never-In-Doubt]

Re: Default Removal

Not sure what you want from me...I wrote to Halifax about the default about a month ago. They defaulted me in 2008 and refunded the credit card charges in 2009...It was only last month that I wrote to them when I realised the default was still there

Just wanted clarity.

Ok, so you're saying you had an account and in 2008 it got defaulted then in 2009 you did a reclaim. Can you clarify the balance of the default and the balance of the reclaim - I mean the totals before offset was used.

Thanks

[Koptrader]

Re: Default Removal

Does it? I think not. You need to have valid cause of complaint then take it up with the bank then upon a final response you then utilise the FOS.

I'm not being awkward but people need to realise that a lender's last resort is to add a Default cos they know they can do little else. Hence they issue them without fail nowadays - it's all they have left in their arsenal to hurt us with....

As above, if the account was purely defaulted due to unlawful charges then fine, it's got merit. If not, then sorry you'll be wasting a lot of time for little return

Ok, I understand. I certainly wouldn't have been unable to pay the account had I not been getting charges on charges. One charge would take me over the credit limit and then another would be added for unauthorised credit and the following month, when can't bring balance down and can only make minimum, the same cycle ensued. As I say, balance on default in 2008 was £797, whilst my credit limit was
£700. Charges refunded in 2009, totalled £997 (interest was also refunded on top)

[Never-In-Doubt]

Re: Default Removal

Ok, I understand. I certainly wouldn't have been unable to pay the account had I not been getting charges on charges. One charge would take me over the credit limit and then another would be added for unauthorised credit and the following month, when can't bring balance down and can only make minimum, the same cycle ensued. As I say, balance on default in 2008 was £797, whilst my credit limit was
£700. Charges refunded in 2009, totalled £997 (interest was also refunded on top)

Honestly, I don't think you have much to go on but sod it why not, best to formally complain to the bank laying out the reasons for the complaint. Stick to the point of 'Had it not been for the excessive charges, then I would not be defaulted, something which was proven upon your refunding over £900 of unlawful charges'

See what they say

Then come back and we'll guide you on how to best manipulate the FOS (other than paying them off like the banks do)!

[CleverClogs (RIP)]

Re: Default Removal

I'm not being awkward but people need to realise that a lender's last resort is to add a Default cos they know they can do little else. Hence they issue them without fail nowadays - it's all they have left in their arsenal to hurt us with....

So how can we hurt them?

As above, if the account was purely defaulted due to unlawful charges then fine, it's got merit. If not, then sorry you'll be wasting a lot of time for little return

But one would also be wasting the time of various bank employees.

Natwest are RBS ie part of the McGuffick case that set the precedent - you've more chance of winning the lottery for 6 consecutive weeks than getting RBS to remove it.... sorry mate.

And, of course, the Rotten Bunch of Swindlers usually regards ethics in business as entirely optional.

[Koptrader]

Re: Default Removal

Interesting development guys...was looking at all of my statements last night to work out, how much of the arrears when I was defaulted was made up of unlawful charges...noticed that when I first took out the credit card with Halifax, there is a "Repayment Cover" charge that has been added and continued for around 29 months before it just stops appearing on statements. Have to say I did not know that I had PPI on this agreement! I would have claimed it back, like I did with all my Bank Charges and Credit Card charges a long time ago, had I known. Would this, allied to the fact that there was such an overwhelming sum of charges which combined is double the default amount, offer me any further leverage in respect that if I can show that the PPI was mis-sold, that in tandem with the charges makes the default sum inaccurate? Also, on the statements, the final statement balance on 15/09/2008 is £796.68....My credit file shows default date as 15/09/2008 with default balance of £797.00. Only 32p out but surely the default sum shown should be accurate? I don't imagine there is a tolerance to round up?! Is there?

Thanks
KT

[Never-In-Doubt]

Re: Default Removal

I would now reclaim all PPI and then consider the FOS as it appears you've had a lot of applied entries that need manual intervention and thus any default is now dubious in all but writing, with no merit.

So, ensure first things first - get a new reclaim in for the PPI element and then after they decide on this, you need to work out a list of all the flaws and formally complain, afterwhich you then have a right to consider FOS intervention.

Good luck. We'll help along the way if you need it

[Koptrader]

Re: Default Removal

Hi Niddy,

Thanks for your help. I'll get the PPI claim in and take it from there. Will check back when have an update.

Thanks
KT

[Koptrader]

Re: Default Removal

Ok, I called Halifax just to make them aware that I was unhappy with their reply that they can't remove default. They still maintain that it was added correctly and that is their final position. So, I have sent my PPI claim in, was delivered on 18/06 according to Royal Mail so now we wait to see what they come back with to that.

Once that's dealt with, hopefully have some grounds to complain to ombudsman about default (with NID's help) given that there is nearly double the default sum in terms of PPI charges and credit card charges.

Will keep thread updated as and when I have news

Thanks
KT

[Koptrader]

Re: Default Removal

Hi guys

Been a while since I contacted Halifax over the PPI that was applied to my credit card account but they have now issued their final response. They have agreed that on investigating my account they have decided to uphold my complaint. They are therefore refunding all PPI premiums paid aswell as interest at 8%. I received the cheque from them today. This is great news and I thankyou for your advice in first pursuing this avenue before moving onto the default.

So, I now need to know what my next course of action should be. As it stands now, they defaulted me for a total of £797. On checking my statements post default, they had charged me a total of £997 in credit card late payment/overlimit fees and refunded them when I complained. They have now also refunded £270.00 in PPI premiums after upholding a complaint of misselling. Seems to me that their default is not an accurate reflection of the account!

So would appreciate any advice on my next move.

Thanks guys

KT

[Undercover Elsa]

Re: Default Removal

Hi Koptrader,
First of all, congratulations on your successful claim! Well done!

Niddy will no doubt go over the fine details with you, but I would think that you now need to refine the figures to show exactly the true status of the account on the date when the default was issued, then formulate your complaint based on this, pointing out that the default is therefore an inaccurate reflection of your account conduct and should be removed.

If they don't comply then once you have their final response you take it to the FOS.

Elsa x

[IF]

Re: Default Removal

Well done from Koptrader, love good news me