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  • #1

    Not sure if this is correct sub-forum but Default help required

    In a DMP for last 6 years, and have default notices on credit history from 4 creditors that drop off in about 6 months. Just spoke to the DMP co. (Payplan) who stated that

    "A Default Notice stays on your credit file for 6 years from the date it was issued and will make it difficult for you to obtain further credit. You can request for this to be removed once your debt has been repaid in full. However they can apply another one after the 6 years is up."

    Is this last sentence bollox? I need to remortgage and this will kill me
    Tags: 2012, account, advice, cca, con, credit, credit history, creditors, date, debt, default, default notice, defaulted, defaults, dmp, experian, full and final, help, legislation, letter, lowell, name and shame, payments, payplan, rac, repay, work, wrong
  • #2
    Re: Not sure if this is correct sub-forum but Default help required

    Yes it is bollox. One Default per Account, EVER. you can not have 2 defaults registered for the same account, if this happens, then you tell us, and we will help you get it removed.

    The only time you may see 2 defaults for the same debt, is if a debt is sold on, but only then, it will show one account settled, the other active, and both will have the same default date.

    Another thing that is bollox, is asking for the default to be removed if the debt is repaid, it doesn't work like that. Defaults are placed on your credit file, to show the real activity of the account. If you miss 3 contractual payments, you are in default, simple. Even if you repay the debt some years later, you still defaulted at that time, they wont remove it, until 6 years from default date has elapsed.
    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: Not sure if this is correct sub-forum but Default help required

      Originally posted by SXGuy View Post
      Yes it is bollox. One Default per Account, EVER. you can not have 2 defaults registered for the same account, if this happens, then you tell us, and we will help you get it removed.

      The only time you may see 2 defaults for the same debt, is if a debt is sold on, but only then, it will show one account settled, the other active, and both will have the same default date.

      Another thing that is bollox, is asking for the default to be removed if the debt is repaid, it doesn't work like that. Defaults are placed on your credit file, to show the real activity of the account. If you miss 3 contractual payments, you are in default, simple. Even if you repay the debt some years later, you still defaulted at that time, they wont remove it, until 6 years from default date has elapsed.
      Thx, that was my understanding so I appreciate the clarification. Terrible advice from the aforementioned "company".

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      • #4
        Re: Not sure if this is correct sub-forum but Default help required

        Which dmp was it? Name and shame if you can.
        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.

        Comment

        • #5
          Re: Not sure if this is correct sub-forum but Default help required

          I would complain to payplan, they are well and truly confused and they are supposed to be giving helpful advice......................

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          • #6
            Re: Not sure if this is correct sub-forum but Default help required

            Originally posted by SXGuy View Post
            Which dmp was it? Name and shame if you can.
            It was Payplan. If anyone has any conclusive, legislation they can point me to I will respond and show them they are wrong

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