SB Question

[Spent2much]

Re: SB Question

They can issue as many default notices as they want, but the actual default can only be issued once.

thanks does this mean that it only stays on your credit file for 6 years and can't go on again even when they keep issuing default notices , sound thick doesn't it .

[cymruambyth]

Re: SB Question

thanks does this mean that it only stays on your credit file for 6 years and can't go on again even when they keep issuing default notices , sound thick doesn't it .

No it doesn't sound thick, it took me a while to work it out! Once the default is placed on your file it is there for 6 years (and 1 month); it doesn't matter how many default notices are issued it us the default marker that counts.

[Never-In-Doubt]

Re: SB Question

Correct. One default per account. The CRA record account conduct so if it's been defaulted and seen out 6yrs then it goes. End of. If the dca adds it again, complain to the CRA about it being a duplicate entry and they'll remove it straight away pretty much.

[PlanB]

Re: SB Question

I'm starting a new job soon in which I will have to travel abroad occasionally. I will need a company credit card when that happens and at the moment I won't get one because of this.

^^^^ Are you sure about that? If you are simply an additional cardholder on a company credit card you shouldn't be credit scored since you are not the account holder and have no liability for the debt. My ex-husband had a company credit card all the time he was a bankrupt.

[SXGuy]

Re: SB Question

planB is correct, company credit cards are not personal ones. No personal credit checks are made.

[SA Gold]

Re: SB Question

planB is correct, company credit cards are not personal ones. No personal credit checks are made.

I've worked for places which issue what i would call a "proper company card" where the person named on the card is authorised to use it, although doesn't pay the bill every month (although receive statements to their personal address to check what has been spent).

I've also worked in places which provide "company credit cards" although in reality its a personal credit card with some kind of referral from the employer. Perhaps this is what Fred is on about?

[Fred Bassett]

Re: SB Question

I've worked for places which issue what i would call a "proper company card" where the person named on the card is authorised to use it, although doesn't pay the bill every month (although receive statements to their personal address to check what has been spent).

I've also worked in places which provide "company credit cards" although in reality its a personal credit card with some kind of referral from the employer. Perhaps this is what Fred is on about?

I checked this out a couple of years ago and there are indeed more than one type of company credit card. The type my company uses, unfortunately, is a personal credit card and the issuing of it will depend on my credit rating.

It's not the end of the world, I can get around the problem until the end of August, but it's just a bit of a nuisance.

Regards.

Fred

[SA Gold]

Re: SB Question

I checked this out a couple of years ago and there are indeed more than one type of company credit card. The type my company uses, unfortunately, is a personal credit card and the issuing of it will depend on my credit rating.

It's not the end of the world, I can get around the problem until the end of August, but it's just a bit of a nuisance.

Regards.

Fred

Hi Fred,

I put forward a really good case (or what i thought was anyway!) which resulted in several people (me being one of them ) a few years back and got a "proper company card".

I said at no point had i signed up to effectively lend the employer money every month. I wasn't prepared to take credit out for them; in the event they hit any financial problems then i (we) would have been liable for costs incurred as a result of purchasing fuel etc for their gain!
I also found an article on the HMRC website which stated their were implications when employees lend their employers money in the form of expenses. From memory, things change when £2500 is reached - and we were on average spending £1000 a month.

Not surprised they tried everyone to get their own card - Barclaycard charged them £39 a month, per card!

[Fred Bassett]

Re: SB Question

I don't think I'll be able to do that. I'm not sure quite how the system works, but from what I can gather, nobody is left out of pocket - the money is in your own bank account before you have to pay the bill. I will probably only have to travel 2-3 times a year, so maybe once or twice I might have a bit of a problem. After that, things should be OK. I had to travel a couple of times about 5 years ago. On that occasion, I had a quiet word with my boss at the time and she paid for everything with her company AMEX card, so it wasn't an issue.

Regards.

Fred

[Never-In-Doubt]

Re: SB Question

It won't affect you as the search will show a clear record. You'll be fine.