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  • #1

    Capital One Default and ICO guidelines

    Capital One started marking my credit file with AP/AR markers from May 2008 showing 6's they did this for 12 months before finally defaulting the account in May 2009. I might add I started a DMP in March 2007. I settled the account in February 2014.

    After reading the ICO guidelines and having some success with a Barclaycard I got them to clear the account from my credit file.

    I sent the same complaint letter to capital one but they have sent a reply saying what they have recorded is a true reflection of my account, my argument is if they defaulted me at the same time rather than taking 12 months to default it the account would of dropped off by now instead it's going to stay there for another year.

    Any advice welcome how I should tackle this??

    Regards
    Tags: account, advice, barclaycard, cap, capital, capital one, credit, default, defaulted, defaults, dmp, fee, files, financial, guidelines, ico, idem, independent, information, letter, money, mortgage, new rules, reading, rules, shared, small, stay, wife
  • #2
    Re: Capital One Default and ICO guidelines

    after they defaulted the account did they sell it on to another company to collect?
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: Capital One Default and ICO guidelines

      Hi there, no it remained with Capital One.

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      • #4
        Re: Capital One Default and ICO guidelines

        was the DMP managed by yourself or a company. I ask as a company may have agreed to the AP . or was a letter sent to you saying they would agree smaller amounts for x amount of months, if this was the case they can argue that the markers are correct.
        is it important that they remove the default now? as it should show as settled for any searches done , do you have any more defaults on your credit file. Can you wait one more year for it to drop off?

        If not you may need to get advice from the ICO as really they should of defaulted you sooner, but it may take some time (if ever) for cap one to admit to this
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #5
          Re: Capital One Default and ICO guidelines

          How important would depend on how bad it reflects on my credit report, or my credit worthiness.
          I have an ongoing complaint with idem servicing for the same reason and hopefully should get some good news out of them soon.
          Apart from that my file is clear, my wife and I earn not bad money and we want to buy outright rather than the shared ownership we are in.
          Until I clean my file completely I won't even step into a financial advisors

          sorry meant to add the DMP was managed through PayPlan.
          Last edited by ey_137; 23 May 2014, 19:03.

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          • #6
            Re: Capital One Default and ICO guidelines

            with the new rules for getting a mortgage now they have you jumping through hoops while standing on one leg, on the back of a camel,
            could you not just ask for information from an independent adviser, to find where you stood and what you would need to do to improve your chance at getting the mortgage, no application involved,

            it may be that as it shows as settled you can explain the problem and it may be taken into consideration/

            good luck NW
            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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            • #7
              Re: Capital One Default and ICO guidelines

              While they should have adhered to the guidelines in place at the time, I should point out that they are now updated.

              http://www.scoronline.co.uk/files/sc...ment_final.pdf
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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              • #8
                Re: Capital One Default and ICO guidelines

                Point to mention, a mortgage advisor can tell you who If any are likely to accept a mortgage with you, and whether you would be able to obtain one, without affecting your credit file. So theres no harm in asking, other than perhaps their small fee for the privilege.
                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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