Default on CRA Report **Removed**

[Dobby]

Hi, I have just stumbled upon this site and have read a few topics and wish I knew of its existence when all my troubles started but hey-ho.
If anyone could advise me how best to sort out my little (compared to some others on here) problem, I would be very grateful.
A brief history:
After struggling with repayments on Credit Cards and unsecured loans I felt that my best option was to go for an IVA, this was set up through "One Advice" in May 2006 and continued until it failed due to not being able to afford the payments in Nov 2007. I contacted another company for advice and they said my best option was to file for BR. I went through the process to do this but before my case had been finalized the company ceased trading. So the letters and phone calls started but I managed not to respond or answer the phone. My credit report was a real mess, all red. I had heard that if a debt has not been acknowledged for 6 years then it becomes SB, which is what I aimed for. Having now just looked at my credit report all of the debts have gone, except one.
A small debt is still on there. I took out a loan in 2003 and serviced this up until about Feb 2006. For some reason this debt wasn't included in the IVA. The report shows all my accounts twice (duplicate) I don't understand why, and going back through the history of the loan account shows that it wasn't shown as in default until Nov 2007. All the red markers have 5 in them except one in Dec 2012 which is green and has a 0.
My questions are should this loan now be SB? If so how do I go about proving it? Or should I go for F & F? I could wait for it to fall off on its own in about 9 months but my situation has changed where a good CR would be very helpful.
If anyone feels they would be able to advise me but need more info then please just ask.
Many thanks in advance.

[ken100464]

Re: Default on CRA Report

If your last payment and or acknowledgement is Feb 2006 it is SB now or am I missing something.?

Even if you do a F & F then it will still be on your file till Nov 2013 so what have you gained?

I would unless someone is baying for your children over it let sleeping dogs lie and wait out till Nov.

You get the same result but get to keep the money.

Sometimes looking on CRA's invokes DCA activity.

Would await further comments.

[Dobby]

Re: Default on CRA Report

Hi Ken, thanks for your reply.
I would really like to get this removed as soon as possible due to my housing situation. At the moment we are currently renting a house but the landlord passed away over Christmas so the house will have to be sold as part of his estate. I would really like to be in as good a position as possible to be able to apply for a mortgage rather than having to rent as renting is dead money, hence getting rid of Default.

[ken100464]

Re: Default on CRA Report

Thats the problem though as whatever you do now it will be sitting on your Credit file till the whole account drops off in Nov.

If you defaulted the account way back it is a true reflection and therefore you aint gonna get that changed.

I would have thought offering a F & F could leave you wide open to have acknowledged the debt even if eventually you dont take them up on it.

Everyones situation is different I understand but I would be trying to ride this one out.

There are many more wiser than me on here about mortgages but from what you read even AP's and arrears are scuppering applications at the moment so a default would be not likely to do you much good.

[Dobby]

Re: Default on CRA Report

Hi Ken, once again thanks for your reply.
I think what I am trying to do is prove that as the loan was in default back in early 2006 but not registered until Nov 2007 that the Bank are at Fault and I'm wondering if there is a procedure to get them to correct the data thus the debt would have been written off the early part of last year and wouldn't appear at all now. Hope that make sense

[Riz]

Re: Default on CRA Report

The report shows all my accounts twice (duplicate) I don't understand why, and going back through the history of the loan account shows that it wasn't shown as in default until Nov 2007. All the red markers have 5 in them except one in Dec 2012 which is green and has a 0.

That sounds a little odd. Does it actually give a default date and/or have a D/8 for default anywhere? Or are you just assuming it is a default from Nov 2007?

If you are unsure, could you post a screenshot of the entry up removing any personal detail.

Statute barred would have been early 2012 given your dates, assuming you did not pay or acknowledge in writing after that point.

You could argue the toss about the default date, assuming it is actually defaulted Nov 2007, but as said may be better to just let sleeping dogs lie. If you did want to dispute the default date, then you would have to be very sure it is statute barred. Otherwise that could be a big can of worms that you are opening.

The double entry could be due to the account being sold on. Are they listed under different company names on the report? Do they both have the same account status?

[Undercover Elsa]

Re: Default on CRA Report

Hi Dobby,
If you're dead set on clearing it and you're pretty sure of the date of last payment, the way to start would be to send a Subject Access Request to the bank for all the data they hold on you. This would confirm when you actually defaulted as opposed to the mythical CR date. They should by rights register the default with the CRA's within 6 months of your first missed payment. The Statute Barred clock starts ticking the day after your missed payment as that is the point you breach your agreement...(unless you make later random payments after default, in which case it's the day after the last payment).
Once you have it in black and white you can write to the bank requiring them to correct it and complain to the CRA's / ICO if they don't.
Obvious pitfalls are that it may waken a sleeping dragon to bite you if it's not actually Statute Barred yet, and could take you 40 days or more to get the SAR plus more time playing letter tennis. Which could bring you up to November anyway...

[Dobby]

Re: Default on CRA Report

Thanks for the replies. Trying to work out how to get screen shot and edit it to put on here

[Riz]

Re: Default on CRA Report

Most basic way in Windows I think is.

Link - Use Snipping Tool to capture screen shots

Then use paint or similar to edit, save, and then add as an attachment to a post here.

[Dobby]

Re: Default on CRA Report

OK. When i entered in to IVA I had to set up anew Bank account to allow for my salary to paid in to because the bank I was with were going to be in the IVA. The loan was being serviced by my old Bank. So my new Bank account was set up in Feb 06 which means there would not have been any funds in the account to pay the loan.
The CR is odd. months 1-12 show 8 and 13-72 show 5.
There are 2 entries for each of my accounts with identical details

[Dobby]

Re: Default on CRA Report

Hi, please can someone explain how to post a screen shott.
Sorry this is all new to me.

[Dobby]

Re: Default on CRA Report

Forget that. DOH!!!!

[Riz]

Re: Default on CRA Report

Well, I see 2 LOANS there under Black Horse, with a default and owing balance of £353 and a default date of 22/02/2012?

The bank accounts listed seem to be not defaulted and OK?

[Riz]

Re: Default on CRA Report

Sorry. My mistake. I misread the original post and thought it was an overdraft that was the problem.

A LOAN is what it should be.

[Dobby]

Re: Default on CRA Report

This is where i'm confused. Nothing has been paid to the loan since 2006. So how can it be not in Default?