Vanquis Default

[rickybalboa]

Hi,

I have been in financial difficulty and would be grateful for any advice received.
I missed at least 3 payment on a vanquis credit card account and received the attached default notice.
The default notice letter was dated 19/4/16 and they asked me to pay by 8/5/16.
Is there anything wrong, because it is less than the 28 days suggested by the ICO?
The debt was then passed to Moorcroft dca and the default was registered on my credit file on 31/8/16.
After receiving letters from Moorcroft the debt was passed to DLC dca.
The have since sent me a letter offering a 50% reduced final settlement which would be placed on my credit file as partial settlement
satisfied. I am in a position to pay this (£365) but would prefer to not have the default still on my record for nearly 6 years.
I have been stupid in not paying this debt earlier before it defaulted and want to make the best decision going forward in my life.
I thought they had defaulted the account on the 8th May when i didn't have the money and not at the later date of 31/8/16.

thanks in advance for any advice given and merry christmas to all readers of this thread/forum.

ricky

[cymruambyth]

Re: Vanquis Default

Hi, unfortunately as you have defaulted on your payments they can record a default on your file that will stay for 6 years. I believe the recommendation is that defaults are registered within 6 months of being issued. Hope this helps even if it isn't the answer that you wanted.

[oscar]

Re: Vanquis Default

Theres not really enough information to answer you absolutely fully, but going on the above.

As cymru says a default is registered for 6 years. As or the default, most lenders will default you between 6 and 8 months of arrears / missed payments.

As for the letter unless is changed, they have to give a set number of days - 14 - for you to clear he arrears - this is from the date you receive the letter (so need to know if its first or second class).

You appear to have been given 19 days from date of postage, so even with second class (3 days) it would still be a valid notice.