Payday Express Default on Credit File

[paydaypayback]

I can't believe it I started a payday loan with Payday Express the beginning of 2010 and defaulted due to change in circumstances which led me not able to make the full payments. I arranged a payment plan of £25 a month with them Jul 2010 and have been making these payments every single month since then on time with no late payments etc.

 

I now owe £160 to them and on checking my Experian credit record today they have registered a default against me dated the 04 Aug 2010 - this has only just appeared today!!!!!

 

Can they do this as I am certain I have not received a default notice from them. Only letters stating that I had not made the full payment and the amount that is owed was received prior to me arranging the payment plan were received.

 

This will now stay on my credit file for the next 5 years I guess? GREAT

 

Any advice would be appreciated.

 

Regards

[sillypaydaygirl]

The same thing has happened to me! But they have registered 2 defaults although i only had 1 loan and had paid back the majority on the whooping £429 interest they added on to my £300 loan. Thieves!!!

[ukaviator]

Did you not get a Default notice in the post giving you 14 days to pay up before they did this?

[paydaypayback]

Hi, no default notice has ever been received. When I realised I couldn't pay the loan in full as required I contacted Payday Express immediately and asked if I could make a monthly payment as circumstances has changed and I couldn't afford the one full payment and didn't want to keep rolling the loan over meaning it would increase. Payday Express agreed to a monthly payment of £20 for six months after which a 6 month review would take place. After 6 payments I contacted them and increased the payments to £25 a month which I am still paying - 6 payments left. This arrangement started Jun 2010. I received a confirmation letter and e-mail confirming the balance and stating that the payment plan was in place. I have been checking my experian credit account every month and no sign of the default until last week when it appeared on there with a default date of Jun 2010 which I guess is correct. What I am annoyed about is that I though being under a payment arrangement they wouldn't default me as I have had a few accounts under payment arrangements but this has been the 1st ones who have defaulted me. Now thats it for another 5 years - I was hoping to buy a house in the next year or so but that obviously will go on hold. I can't believe they can mess peoples lives up like this for the amount of money less than £250. I now earn good money and circumstances have changed for the better which is the annoying thing about the default. Well my plan now they have defaulted me is they either remove it in full as part of a full and final settlement or my monthly payment offer is withdrawn and they will get £1 a month for the next 15 years.