Help greaty appreciated regarding a DEFAULT

[Fudge17]

Hello everyone

 

I would be very grateful for some advice please. I had a car loan with Welcome Finance for 4 years which came to an end last year. A month before the end of the term, I contacted WF for a settlement balance. After paying on time every month, I was surprised to see that the residual balance was more than what we expected to pay. Therefore, I disputed this and WF put this on account into dispute and on hold until they investigated the issue.

 

During that time, bearing in mind, I had not missed a payment in all the term, my wife received an evening call after 7pm.The person did not ask my wife, who she was, just she was after Mr xxxx regarding welcome finance and stated the whole balance owning. We contacted WF about this and to this day we are still awaiting a response.

 

However, as I have not checked my credit fil until possibly going for a rent to buy scheme, I have not noticed what they have placed on my credit file- a DEFAULT!!

Never had a Default notice at all- the account was on hold until they sorted the correct balance of £349. The following really puzzles me:

 

Date of default

Date updated

Date satisfied is all the 16th July 2011.

 

All green until May 11, then marked numbered 1

June Marked 2

July marked D

August S

 

I would be very grateful for some advice on how to tackle the above.

 

Thanks in advance.

Edited August 9, 2012 by honeybee13
Name removed to keep this confidential.

[citizenB]

I think you need to write to Welcome Head office in respect of the Default.

 

I agree it is a little worrying - in normal circumstances a payment would need to be missed for at least 3 months - then a Default Notice issued - then a Default Marker placed on the Credit files. I think you need to find out why Welcome have done this.

 

head your letter, official complaint

[BRIGADIER2JCS]

H1, Welcome to CAG. OK the date statisfied indicates to me that the account has

been sold to a debt purchase company so expect a letter from a debt collection Agency

in the near future.

As you probably know Welcome exists now only to collect their book debts and does not

lend any more.

 

As to the actual default you will need firstly to put a notice of dispute on the credit entry,

the a formal complaint to the Data Controller at Welcome stating that their bad managemment

of the account is responsible for the situation you now have as they failed to act properly regarding

your complaint regarding the balance, and tell them that the default is unfair and it must be removed.

Failure to comply will result in complaints to the OFT and ICO.

 

Give the 7 working days to reply, so recorded delivery and check receipt.

[honeybee13]

Hello there.

 

You have 3 identical threads to this on various forums, which I shall remove to avoid confustion. Please continue to post here.

 

I've also removed your name to keep this confidential.

 

My best, HB

[Fudge17]

Thanks everyone. Pleased to have found this forum. No, the debt has not been passed on. The dispute on the balance was solved and I paid the balance off. I was in constant contact regarding this. The CRA files show no arrears, balance now £0. Although now thinking, I have not received anything back to say the Car is offiicially mine, although I have all paperwork to show balance paid.

 

Will do as you suggest regardng sending a letter- is there any official template to use? This has been on my file for over a year now- wished I had known sooner. Why they marked S in August if they are stated it was settled on 16th July 2011?

[BRIGADIER2JCS]

No specific template, do you need help with a letter?

[Fudge17]

Yes, that would be great thanks- not clued up as yet on the legal jargon. Thanks.

[BRIGADIER2JCS]

Yes, that would be great thanks- not clued up as yet on the legal jargon. Thanks.

OK is there any thing else I need to know?

[Fudge17]

No, everything in post 1 is the situation/issues. I rememeber being in constant contact with their office in Falkirk, where our account had been re-located too, I was constantly in their radar!! Disppointed to have not heard about the data protection breaches when they came out and confronted my wife- but I suppose that would be a separate issue( although I have complained). Thanks your help is greatly appreciated.

[BRIGADIER2JCS]

Hello everyone

 

I would be very grateful for some advice please. I had a car loan with Welcome Finance for 4 years which came to an end last year. A month before the end of the term, I contacted WF for a settlement balance. After paying on time every month, I was surprised to see that the residual balance was more than what we expected to pay. Therefore, I disputed this and WF put this on account into dispute and on hold until they investigated the issue.

 

During that time, bearing in mind, I had not missed a payment in all the term, my wife received an evening call after 7pm.The person did not ask my wife, who she was, just she was after Mr xxxx regarding welcome finance and stated the whole balance owning. We contacted WF about this and to this day we are still awaiting a response.

 

However, as I have not checked my credit fil until possibly going for a rent to buy scheme, I have not noticed what they have placed on my credit file- a DEFAULT!!

Never had a Default notice at all- the account was on hold until they sorted the correct balance of £349. The following really puzzles me:

 

Date of default

Date updated

Date satisfied is all the 16th July 2011.

 

All green until May 11, then marked numbered 1

June Marked 2

July marked D

August S

 

I would be very grateful for some advice on how to tackle the above.

 

Thanks in advance.

 

To The Data Controller

Welcome Finance

 

 

ReF:xxxxxxxxxxxxxxxxxxxxx

 

Formal Complaint/Data Protection.

 

 

Dear Sir or Madam,

 

I have recently had cause to check my credit reference files held by xxxxxxx, and xxxxxxx credit reference agencies and have found that Welcome have placed an unfair and unneccessary DEFAULT entry on my files, if you check your records you will find that this account was disputed on xx zz xxxxx as the balance was incorrectly stated when I requested a settlement figure.

 

Points I require addressed are set out here.

 

1. No default notice was received.

2. Welcome failed to respond to my complaint/enquiry regarding the true sum owing.

3. The default was placed because of the incompetence of Welcome staff.

 

 

I consider that given the fact that my account was Never in arrears and there were no late payments in the conduct of the account, the placing of

this default is manifestly unfair and is damaging to my credit profile.

Also I have paid the full amount owed as soon as the correct figure was supplied.

 

I must therefore insist that the entries made on all credit files are immediately removed.

 

Should you fail to comply I WILL make a complaint to the Information Commissioners Office and the OFT regarding the conduct of Welcome Finance regarding

this matter and I will seek compensation for the damage cause to my credit profile.

 

This letter is sent by Royal Mail Recorded Delivery Transit and Receipt WILL be tracked.

[Fudge17]

Thanks so much Brigadier2JCS- thats great, will send first thing tomorrow ( as missed post today). There is no balance showing- marked as 0. Please could you explain what point 4 means- is that what would have happened if the account officicially defaulted- that it would have been passed on?

[BRIGADIER2JCS]

The zero balance indicates that a third party of whom you have no knowledge has paid off the account (bought it) if you have not received any notice that this

has occured.

If the default has been ''satisfied'' then the balance must be £0.

[Fudge17]

Yes, the balance is now 0 as it was showing in arrears last Friday. I paid off the balance in full once the dispute over charges had been sorted July 11.

[BRIGADIER2JCS]

Letter amended I did not realise you had cleared the debt.

[Fudge17]

Thanks. Sorry for the confusion. Balance was sorted, which is why I can't understand this Default. Will send tomorrow. Thanks again.

[BRIGADIER2JCS]

My guess is that the default placement was sheer incompetence Welcome are wll know for it!!!

[Fudge17]

Thank you. Will send by post- but would you also reccomend sending my receipted email too?

[BRIGADIER2JCS]

Thank you. Will send by post- but would you also reccomend sending my receipted email too?

 

YES do!!!