My Diary

[The Tech Clerk]

basically which way you want to go as all records regardless are recorded" = ????

[Joanna Connolly Solicitors]

If I stop my SO will this flag on my credit file that I have a missed a payment? and potentially make my credit score go down?

According to your original post this PRA debt was defaulted in January 2017 so that Default marker will be on your credit file for six years (i.e. until 2023). After that the whole account file will vanish from sight on the CRAs.

If the file is marked as a missed payment it won't be any worse than the Default blemish already on there affecting your credit score in a negative way.

Di

[Spud]

Di is absolutely correct, Once this has been defaulted ( Which it has been) it cant be defaulted again so each month they would just record that you didn't make the minimum payment but a token payment has been made.

Now in simple terms - If you stop making those token payments, They will report that no payment has been made - But this is overshadowed by the Default which has already done the "Damage" to your credit report - So stopping payments wont do any more "Damage" in real terms. I would forget about your Credit score/file for now because its going to be a little bit battered for a while - It happens - But nothing is forever and it will improve and given a little bit of time there are things you can do to make it better and back to normal

However as this has been deemed Unenforceable by Niddy, And if you wish to follow the Unenforceability route, You need to stop payments to do this. Every month you make a payment is another month that you robbing yourself of being free of this debt. The sooner you start the quicker it will be gone

I know it feels wrong to stop making any payment - I think we all know that feeling at the beginning, But take it from me, Its the only way forward to start following the Unenforceability route.

You either need to be 6 years payment free ( Which believe me comes along so quickly) or they decide ( or have it pointed out to them) that they cannot persue this as its unenforceable. Believe me it can ( And has in so many cases) be done.

You are in very good hands here, believe me

[ca71]

Thanks Di & Spud.

[ca71]

A quick query...

One of my defaults on my credit file is listed by the original lender whereas the other two are listed by the current lender (the one the debt was assigned to) - if I was to stop paying this one, could the current lender get a new default registered on my credit file. Apologies if I haven't phrased that particularly well.

[nightwatch]

When a default is placed on your Credit File it remains in your file for 6 years, ( 5 Scotland)
when that debt is sold on the new owner, MAY take over the reporting of the default, some do some don't,
However, if they do, the default date remains the same as the original date recorded by the original owner.

So if Bog off Bargains registered a default on The 12th of Never 2309, then sold it to,
Blood from a Stone Ltd, BSLtd would take over the reporting but The date would remain as 12/00/2309
The debt can only be defaulted and recorded on your Credit file ONCE. It will drop off after 6 (5) years, if paid off or not.

So the owner can send you many default letters for the debt, BUT only one formal default can be placed on your Credit File, if you now stop paying they cannot place another.

One account, one debt, one default.

Anything different, let us know.

NW?

[ca71]

Thanks, NW. Very informative.

[ca71]

Just had a lovely long chat with Di from JCS - Just wanted to check that I'm on the right track with these days given other thins going on with my life, ATM. Thank you, Di.

[Joanna Connolly Solicitors]

Just had a lovely long chat with Di from JCS - Just wanted to check that I'm on the right track with these days given other thins going on with my life, ATM. Thank you, Di.

You're welcome - all chats with me tend to be long

You have a peculiar situation (by that I mean individual not weird!) so a one-to-one conversation can help to narrow down the issues.

As I said, at the moment you are playing poker with two debt purchasers so don't reveal your cards too soon, let them reveal theirs first.

Di

[ca71]

I've had something recently pop up on my FB feed from a website (www.affordable... - not fully disclosed in case it breaks site rules) about investigating whether lenders continued to lend when such lending was (potentially) unaffordable.

Has anyone any direct experience of this sort of site? is there any value in getting assessed given my debts have all been sold on i.e. would any compensation be directed to the new owner?

Many thanks

[nightwatch]

I've had something recently pop up on my FB feed from a website (www.affordable... - not fully disclosed in case it breaks site rules) about investigating whether lenders continued to lend when such lending was (potentially) unaffordable.

Has anyone any direct experience of this sort of site? is there any value in getting assessed given my debts have all been sold on i.e. would any compensation be directed to the new owner?

Many thanks

what you have to remember about these sites is;-
1, how much do they charge
2, what do you get
3, is it something you could do yourself.

they are all out to get paid for what they do, so is it worth it. most of the time you get nothing back from them.
plus if they have been sold on, what's the point.

[PlanB]

a website about investigating whether lenders continued to lend when such lending was (potentially) unaffordable.

. . . is there any value in getting assessed given my debts have all been sold on i.e. would any compensation be directed to the new owner?

Hello

At the moment you've got three unenforceable debts with 'not small' outstanding balances, so I wouldn't do anything which could rock the boat.

If you're ever issued with legal proceedings you might be glad you didn't if there's something questionable in the account history which could work in your favour in court. If you remedy that now you may have lost the opportunity to use it as a weapon in your defence at a later date.

Di

[ca71]

Understood. Thanks, Di. I hope you are well.

[PlanB]

Di. I hope you are well.

I certainly am

Don't hesitate to ask me any questions relating to your debt issues.

Di

[ca71]

Letter received from Resolvecall re: Debt #2 - Filed.