whats the best way to pay a debt off with triton

[Groundhog]

hey all

some how i have managed to get a loan so i can now pay off all my debts, what I need to know is whats the best way to do it?

I dont want to do a part settlement unless my credit file shows it paid in full the main people i would like to pay is Triton credit, they have been the worst by far, is there any way i could get them to change my credit file to show paid in full and have all the "missed payment markers" removed?

[Undercover Elsa]

Re: whats the best way to pay a debt off with triton

Hi,
It is doable...I had one completely removed from my file after an F&F, but it demands on the creditor/DCA. Some (most?) will leave it on and mark it either "partly satisfied" or "satisfied". It's down to negotiation and in this respect the more points of contention there are with the account, and the more desperate they are to get paid, the more likely they are to agree.
Problem is, the credit reference is just that..a reference of how the account was conducted, so unfortunately they can't be compelled to do it.

What's the background of the Triton account? Defaulted? still paying? Have you ever asked for a copy of the agreement?

Shep x

[Never-In-Doubt]

Re: whats the best way to pay a debt off with triton

We have a template where you haggle repayment for default removal but I've seen less than 5 successes to date. Mcguffick v rbs put paid to arguing this fact I'm afraid.

Sometimes best to pay a reduced f&f and wait 3yrs as after 3yrs it'll go unnoticed by most lenders anyway.

[Groundhog]

Re: whats the best way to pay a debt off with triton

We have a template where you haggle repayment for default removal but I've seen less than 5 successes to date. Mcguffick v rbs put paid to arguing this fact I'm afraid.

Sometimes best to pay a reduced f&f and wait 3yrs as after 3yrs it'll go unnoticed by most lenders anyway.

its not defaulted

[Groundhog]

Re:

We have a template where you haggle repayment for default removal but I've seen less than 5 successes to date. Mcguffick v rbs put paid to arguing this fact I'm afraid.

Sometimes best to pay a reduced f&f and wait 3yrs as after 3yrs it'll go unnoticed by most lenders anyway.

its not defaulted

[Never-In-Doubt]

Re: whats the best way to pay a debt off with triton

Sorry by defaulted, I don't mean the just default - I mean derogatory markers. As they were a true reflection at that time then they'll stay - no matter what you do.

However if this debt is with a DCA then you'd be best offering 10% to settle in F&F to try and get rid of them, forget the credit file - the late payments make it bad anough so why worry wasting time on something you have no right to argue over?

ii if you missed then they will and have a duty to, report it to the CRA's - the same as if you paid - they'll report it with a nice green [0]

After 3yrs most lenders discount such data, so yours are all quite old surely?

If you're making a payment to the DCA they'll be recording AP or 0's - they have to.

[Groundhog]

Re: whats the best way to pay a debt off with triton

If you're making a payment to the DCA they'll be recording AP or 0's - they have to.

thats the thing they have never done that, they have always said [6] even though i have never missed a payment with them

[Never-In-Doubt]

Re: whats the best way to pay a debt off with triton

thats the thing they have never done that, they have always said [6] even though i have never missed a payment with them

ok so before they bought the debt was the status a [6] then? Point is, lets say you were late with the OC they'd record [1], [2]. [3] etc etc

However if they then sold it to a DCA or whatever, they'd carry on the sequence so they'd report a [4], [5] etc until it reaches a [6] at which point if you've still not paid then it'll always be a 6 or changed to default.

can youm screen print the CRA entry and email it me? Just that one entry?

niddy@all-about-debt.co.uk

Then i'll be able to exactly explain how it "should" look. Also, was there an entry from the original creditor, or has that totally gone? If you can remember, what status did they last report to the CRA's?

[Groundhog]

Re: whats the best way to pay a debt off with triton

email sent

[Never-In-Doubt]

Re: whats the best way to pay a debt off with triton

email sent

Hiya

Ok that makes a lot more sense, ok as you can see it clearly states "in the last 36 months, the number of status 3+ is 34" which means that you should have been defaulted at least 34 months ago - this is a direct breach of OFT Debt Collection and also reporting of defaults in line with recent legislative changes.

The creditor or DCA should not allow more than 6 late payments to occur before deciding on the default. So you need to work out the date of first missed payment and add 5 more to it - this would be the maximum default date as the lender/dca should record a default within 3-6 months of first missed payment - that means ideally after three months and before six months. The logic is 3 months to get back on your feet, 6+ months is taking the piss - as you've seen here, these entries (unlawful by the way) will affect you for a continual 6 year cycle which defeats the rules - you ought to demand they default you back at the 6th [6] status date otherwise you'll report them to the ICO and raise a FOS complaint. That's all you can really do now, ie go formal and report them.

I have the same issue with HSBC adding a [6] for 5 years lol - its annoying but you need to rely on the regulators to do things properly so raise the relevant complaints only AFTER giving the DCA time to respond to your more formal demand.

use the text I have mentioned above if you want, but there are rules and guidelines for this and they're in direct breach of them all.

[Groundhog]

Re: whats the best way to pay a debt off with triton

so in a nut shell im going to have problems for the next 6 years, even if i pay it off now?

[oscar]

Re: whats the best way to pay a debt off with triton

Maybe not 6, but at up to three and possibly longer up to 6

As Niddy said above, most searches only go back as far as three years.

Niddy, just to clarify something above - As you know I have account with NW - I have no history on my files - just a big fat D - but registered within the 6 month period. Assume this is ok?

[Groundhog]

Re: whats the best way to pay a debt off with triton

right so after i missed 6 payments with natwest (who i took the loan out with) they should have put a default on my file, if thats the case there is a good chance the default was more than 6 years ago


sorry if i keep going on

[Never-In-Doubt]

Re: whats the best way to pay a debt off with triton

right so after i missed 6 payments with natwest (who i took the loan out with) they should have put a default on my file, if thats the case there is a good chance the default was more than 6 years ago


sorry if i keep going on

Yes exactly and if so then it'd be off your file altogether wouldn't it...?

[Never-In-Doubt]

Re: whats the best way to pay a debt off with triton

Niddy, just to clarify something above - As you know I have account with NW - I have no history on my files - just a big fat D - but registered within the 6 month period. Assume this is ok?

Yea thats fine if it is defaulted mate?