Help with Default and loan agreement

[jamiemckenna]

Hi everyone, I hope someone can help.

A few years ago (2013) I took out a business loan through one of the UK's Start Up Loan delivery partners; long story short the biz didn't go to plan, so had to revenue to pay back the loan (which was £6,000).

Anyway, I recieved a default on the account in October 2015 - something I'm unsure if I can contest, as I don't remember getting any notice??

And secondly, a few months ago, the debt was passed to another company - not a DCA - the debt wasn't sold, but it turns out all the loans with the Delivery Partner i originally took out the loan with were transfered ownership to another company.

Thing is, the default is with the originial creditor - who have settled the balance on my credit report to £0 - but the new company haven't updated anything on my credit report, so I feel kind of in Limbo - the old debt doesn't show as settled, just that the balance is £0, but I would love to know if there are any avenues I could possibly take to look at getting the default removed?

Also, I have requested the new company to provide me with a copy of the originial credit agreement, which they keep saying they will do, but never do (I was sent an email guaranteeing me it would be sent by last Friday - never turned up), and they are also sending me default notices - i didn't think a debt could have a default twice?

Sorry if that seems confusing, I am not the best at typing what's in my head lol, hope that makes sense

Thanks,

Jamie

[nanna58]

Re: Help with Default and loan agreement

Hiya, well done for posting.I can't help sorry but someone will be along who can, please be patient as it's the weekend. Just wondering did you send our specially worded template or one of your own? Also did you sent the £1 fee.? x

[cymruambyth]

Re: Help with Default and loan agreement

Hi, welcome to AAD. If you defaulted on paying your loan then it will be recorded on your credit records for 6 years. It can only be reported as a default once on your records but you can receive numerous default notices.
Did you repay the £6000? If you did, you could ask for a notice to be added to your credit records stating that it was settled in full.
If the loan was still outstanding when it was transferred to another company then it would be shown as a £0 balance for accounting purposes but does not mean that it no longer exists.