CL Finance credit reporting on old GE capital B&Q credit card

[dadofholly]

Yes - but it sounds like they are a company that does not know its rear end from it's elbow.

 

Unless they now own the debt i would not pay them a penny - they are just a DCA.

 

You need to deal ith the owners of the debt.

 

I would first of all send them a formal CCA request and lets see if they have the right to actually collect, and can provide the correct paperwork.

[felixfly]

I CCA'd them about 3 years ago and they sent me the agreement that I have posted up earlier.

 

I dont mind paying them as they is hardly anything left on it. I just want to try and make my credit file look as good as possible after it is paid off. Am I able to argue that I should have been defaulted in 2007 when they sent the default notice, or is there a risk they can put a default on now with todays date which would look even worse?

[dadofholly]

No you cannot argue that as the statute barred clock starts after the last payment or acknowledgment by you of the debt. the default date is not relevant and is a red herring.

 

Personaly i dont think that line of 6's will show on your credit file once it has been settled - as those numbers show the last 6 months payment history. 6 months after you have settled their should be no numbers on there at all - as rcent payment history no longer becomes relevant - as far as i am aware - have you checked your credit file to see if other settled accounts show previous payment history?

 

Again - your solution is to find out how much it would cost to bring your account up to date - as this will turn the last 6 into a zero - and all the 6's after will become zero's after 6 months anyway - and you will only get that info off GE.

 

How can they say you are 6 months in arrears and not be able to tell you how to rectify this? It's just not on - you need to either fight back or forget it and move on.

[felixfly]

I tried to argue this and they just said that this is their way of showing that I didnt pay the contractural amount and that once it went to them it would always show as 6666 no matter what I pay. I have the balance remaining and they have told me that even if I pay the balance in full it will still show the 6's and the last 12 months payment history of the account will stay for 6 years after the settlement date.

 

All my others went to default and just show the default and say settled on them. Its so annoying that I have paid this off and I am worse off than I would be had I defaulted.

[BRIGADIER2JCS]

If the account had been defaulted it would

clearly show on the CRA a ''DEFAULTED ON''

[BRIGADIER2JCS]

Once the debt is cleared the entry will show

settled or satisfied.

You would be well advised to

check all the CRAs to see if the

history of the debt is the same.

[dadofholly]

If the account had been defaulted it would

clearly show on the CRA a ''DEFAULTED ON''

 

There is a copy of the default notice on this thread - and the DN was not remedied - so the OP has been defaulted just the companies involved dont know what the hell they are doing.

[felixfly]

Looking at my default notice I posted earlier. The gave me 14 days from the date the letter was sent out. It has been a while since I went through all this but shouldn't they have taken postage into account? Does this mean the DN was invalid and I should only have paid the arrears in the DN and not the full amount?

 

I know I am clutching at straws but all I am trying to do is get them to record my actual payments I have been making on time every month for years.

[dadofholly]

Who has registered the information on your credit file - the dca or GE?

[dadofholly]

Lets back up a minute - If the Default is not showing on your account - then simply settle the account. It will then show as settled or satisfied.

[felixfly]

The information may have been put on originally by GE but is now being updated by CL Finance.

 

Im trying to stop the account showing 6666's as my last 12 months history for the next 6 years after my last payment which is what CL have said will happen.

[dadofholly]

The information may have been put on originally by GE but is now being updated by CL Finance.

 

Im trying to stop the account showing 6666's as my last 12 months history for the next 6 years after my last payment which is what CL have said will happen.

 

It wont show all those 6's if it is settled.

 

Have you got any other agreements on your credit file that have been settled? If so does it show the previous payment history?

[felixfly]

Yes, an old mortgage shows my last 12 months history before I settled it in 2007. There is a note below which says:

 

Settled accounts are kept on file for six years from the settlement date. The

status history in respect of a settled account relates to the period of time

prior to the date of settlement.

[dadofholly]

Yes - I have just read the experian booklet on line and that is correct.

 

In that case your only solution is to do as previously been suggested - contact GE and find out how much it would cost to bring the account up to date - bring it up to date and maintain it for 6 months.

 

Alternativley make a formal complaint and see if they will come to an agreement to remove.

 

At the end of the day though you have not been defaulted - and so your credit payment history will cease to become that relevant to most lenders as the account will be settled.

 

Lenders are more concerned about CCJ's and defaults than an old payment history - as long as it is clear that payments have been maintained. It is arrears on things like mortgages that would be of more concern to them. What they are doing is assessing risk - as a lender - to ensure that you can pay and will pay. They know that a small amount of arrears happens to different people at different times and for different reasons.

 

You may have to accept it - but i would not worry about it - if that is all you will have showing against you on the credit file you will not have much problem by the time your defaults drop off.

[felixfly]

OK, Thanks for looking into this.

 

In regards to contacting GE there is only £80 left to pay and so probably not 6 months worth of payments. They also told me that as no interest was being applied it could never show anything other than 6's.

 

Regards

[dadofholly]

Sorry i could not have helped you more. Have learnt something new from this myself.

 

I think the fact that - as you state yourself - had you not bothered to come to an agreement with them it would all be over with - and droped off your credit file soon - makes it very unfair that it will now be stuck on your credit file for 6 years.

 

Though as long as it is the only thing - and any CCJ's and defaults have also dropped off it will not go against you long term.

 

Good luck.