Greenwood Personal Credit Default

[Northernlad2ko]

Hi All,

Hope your all well, im looking for some much needed help.

I got hold of a copy of my credit report and I noticed that it had a default on there enetered by Greenwoods Personal Finance for a sum of £258.00.

I had allready paid off the whole amount before i knew that this had been placed on my account.

So I used of of your template latters to ask them to show my a copy of the default letter as i'm 100% convinced I didnt receive one.

That was a week ago and today I have receved the following letter from them..and it reads :-

"Thank you for your letter dated th 12 july 2012.

I Understand your concern to be that there is a default recorded on your credit file for loan issue *********.

Having viewed your account I can see that your account remained unpaind for a sunstantial amount of time and so we recorded this pattern of non-payment and, in time, registered a default on your credit file.

You will have received several arrears notices over time, warning you of potential defaults. You would have been well aware of your loan agreements exceeding their terms.

As a point of calriffication there is a section within the Consumer Credit Act s87, that requires a creditor to serve a "default notice" on a debtor prior to taking certain steps.

Many people assume this means that a creditor cannot register a default against their credit file without serving such a notice. Registereing a defult with a consumer credit agency does NOT require service of such a notice on a customer.

Please find enclosed a copy of the signed credit agreement for your records.

I hope the above will be of some assistance and I thank you for contact us in respect of this matter.

If you remain unhappy with our responce, you have the right to refer this matter to the FSO. This must be done within six months from the date of this letter.

Yours Sincererly.
xxxxxxxxxxxx

The are they correct in what they are saying?

This has got me stressed to helll!

Any help would be outstanding.

Cheers

[mgfboy]

Re: Greenwood Personal Credit Default

I must admit I thought they had to follow the whole shooting match, send the correct letter give you time to settle etc.

It wouldn't be the first time a lender/dca has told porky pies

[Northernlad2ko]

Re: Greenwood Personal Credit Default

Me to, thats why im wondering are they hoping I just take what they say as gospel and just leave it.

Everywhere i have looked and everything I have read tends to suggest that I do have to receive a Default Notice.

[Northernlad2ko]

Re: Greenwood Personal Credit Default

Hi All,

I'm really sorry to ask again but I was wondering if someone could give me some much needed advice on this?

Thanks in Advance for your help.

Cheers

[alangee]

Re: Greenwood Personal Credit Default

A Default Notice and a default entered on you credit record are two different things.

As the creditor said, a DN is issued if they are considering taking the next step - ie enforcement.

Your credit file is a record of how you manage your debts. Normally if you have missed three to six full payments, your creditor will enter a default on your record. It is the creditors duty to keep an accurate account of how you manage your debts.

Even if you had received a DN and had rectified the breach, you could still have a default entered against you, because your payment record may have warranted it.

I believe the reason that most people think that if you did not receive a DN then you cannot be defaulted (and I used to be one of them until Paul put me right), is the fact that they normally say in the DN that you may be reported to the CRA's.

Alan

[Northernlad2ko]

Re: Greenwood Personal Credit Default

Hi Alan,

Ahhhhhh I see, that makes sense now, so im stuck with it for the next 6 years then :-(

Thanks for your help.

Cheers
Stu

[Never-In-Doubt]

Re: Greenwood Personal Credit Default

Hi Alan,

Ahhhhhh I see, that makes sense now, so im stuck with it for the next 6 years then :-(

Thanks for your help.

Cheers
Stu

Can you confirm - you paid the debt of £258 in full and then AFTER the settlement date, they defaulted you via CRA?

Please be specific.

If this is the case, it is unlawful and must be removed by the CRA's.

[Northernlad2ko]

Re: Greenwood Personal Credit Default

HI N-I-D,

I'm not 100% sure what the specific date the default was entered on my file, i'll find out and get back to you.

THanks Again.

stu

[Never-In-Doubt]

Re: Greenwood Personal Credit Default

HI N-I-D,

I'm not 100% sure what the specific date the default was entered on my file, i'll find out and get back to you.

THanks Again.

stu

Please do.

Get the exact default date as shown on your credit file and also confirm the exact date you paid the £258.

Then i'll come back to you