Default and Termination notice

[bosdog]

Hi all
Sorry for my confused question

If a default notice has been issued and subsequently the account is terminated, can it be argued to any effect at a later date if the creditor then agrees that a) the default amount was incorrect b) payment of the requested amount would still have left the account in breach?

Many thanks for any help

[bosdog]

Re: Default and Termination notice

Anyone please?

[Undercover Elsa]

Re: Default and Termination notice

Not quite sure what you mean Bosdog...
Could you give a bit more background?

[bosdog]

Re: Default and Termination notice

Hi Elsa, Thank You for your kind response.
It is with regards to a default that was issued to me in November 2011.
Firstly the amount that they asked for to remedy was 3k + (the account loan limit was actually 10k) and they stated the o/s balance was 16k. I cannot see that paying 3k would have taken the account out of default?
Secondly, some months later, after a letter of complaint, they removed 6k worth of charges from the o/s amount and are now after around 10k. The CRA is showing a default of 16k and a balance of 10k.
Also, could it be argued that if the default notice had showed the 10k amount (and therefore it would have required a lot less to put the account in order) not the 16k, I may have been able to raise the cash?. No chance now that I have a default.
Hope this makes sense?
Any help is, as always, sincerely appreciated.
All the best

[Undercover Elsa]

Re: Default and Termination notice

no probs..
Ahhh I think I get it now, you're looking at this from a default on your CRA aspect as opposed to a legal claim argument? Is that correct?

What are you trying to achieve..removal of the default?

[bosdog]

Re: Default and Termination notice

I suppose its establishing what possible defence I may have to any court/legal threat from a dca.
Expect a default removal to be impossible from my limited understanding of these things!
Thank You for your help

[Undercover Elsa]

Re: Default and Termination notice

Yeah that's what I was thinking, that you'd probably be disappointed if that's what you were after.

If it's for a possible defence then that's different. Default Notices should request an accurate amount of arrears. (Never the full balance unless the term of the loan has ended and the full balance is in arrears)
If 3K wasn't an accurate figure for the arrears then afaik the default is bad. You could also probably argue that the charges further compounded the inaccuracy and caused you prejudice.

What stage are you at otherwise...when was the loan taken out and have you sent a CCA request?

[bosdog]

Re: Default and Termination notice

Hi Elsa
Thank You
It all links to my Newbie Cahoot thread.
They admit they did not contact me for 3+ years after I had stopped payments but they did not default and just kept adding charges (this increased the o/s amount well above the original agreed loan limit)