Intelligent Finance OD not defaulted after 5 yrs **MOVED+COMPO**

[bozalt]

Hi

 

I am looking for some advice in relation to an overdraft on my current account with IF. I lost my job in 2008 and was unable to meet any of my credit repayments and my overdraft was one of these.

 

After about 5 months the account was passed to Blair Oliver and Scott and I have been making reduced payments. Thanks to offers from friends and family I have on numerous occasions offered to settle for around 50% of the balance due which has always been declined.

 

I know that IF have never defaulted this account so I checked my credit file today and notice that the account shows as late payment each month since 2008. My question is are IF allowed to do this and if I was to dispute the account now can they place a default on it?

 

I thought that defaults were to be placed after 6 months but I am not sure how CCA 1974 applies to current accounts and overdrafts. I was hoping all my defaults would be cleared in 2014 but it looks like the late payments being recorded will have a similar negative effect.

 

Any advice given would be greatly appreciated.

 

B:smile:

[dx100uk]

are your payments to the DCA showing?

 

yes that's bad news

 

I think you need a brig letter here.

 

have you got all the statements?

 

are you sure these are late payment markers too?

sounds strange to me.

 

pers i'd not be paying the dca at all if IF is shown as the owner on the cra file

 

BOS will be taking a cut i'm sure.

 

dx

[bozalt]

Hi dx

 

Thanks for your comments.

 

I haven't seen a statement for a long time just the occasional letter from BOS, IF is still shown as the owner on the CRA file and the balance is reducing by the amount I pay each month. I have a number of Halifax and IF accounts which all seem to now be handled by BOS.

 

The CRA file states the following;

 

Intelligent Finance £ 945 06/03/2013 Late payment

Agreed payments are 3 months or more behind, the overdraft value has been greater than the agreed limit of three or more months; Cheques direct debits or standing orders may have been bounced for a third month.

 

Each month on the file has this note against it, I actually stopped my payments today as I cant understand why they would still be marking the payment as late when its an agreed value each month. Can you tell me what a Brig letter is please?

 

Thanks

[BRIGADIER2JCS]

Hi I'm the Brig, dx has aske me to look at your thread so I'' going to take a look through all the posts to see if I can help you.

[BRIGADIER2JCS]

Hi

 

I am looking for some advice in relation to an overdraft on my current account with IF. I lost my job in 2008 and was unable to meet any of my credit repayments and my overdraft was one of these.

 

After about 5 months the account was passed to Blair Oliver and Scott and I have been making reduced payments. Thanks to offers from friends and family I have on numerous occasions offered to settle for around 50% of the balance due which has always been declined.

 

I know that IF have never defaulted this account so I checked my credit file today and notice that the account shows as late payment each month since 2008. My question is are IF allowed to do this and if I was to dispute the account now can they place a default on it?

 

I thought that defaults were to be placed after 6 months but I am not sure how CCA 1974 applies to current accounts and overdrafts. I was hoping all my defaults would be cleared in 2014 but it looks like the late payments being recorded will have a similar negative effect.

 

Any advice given would be greatly appreciated.

 

B:smile:

Hi, the reason the account has not been defaulted is because of the ''arrangement to pay'' which is really what should be reported on credit files in your situation.

As dx asked are you receiving statements from BOS and is the amount reducing after all this time?

I do believe that this situation is unfair an puts you at a disadvantage compared to a debtor who has made no effort to repay a debt and yet gets the account defaulted earlier and the removed after 6 years from credit files paid or not.

 

There are a couple of things I need to check on then I'll try to put a letter together for you maybe we can improve the situation.

[bozalt]

Thanks Brig you are a gentleman Sir!

 

I have not received any statements for a long time, I get a letter from BOS every six months to review the repayment arrangement and the balance is slowly reducing. Is there any way to dispute an overdraft and remove the debt being recorded with the CRA?

 

As far as I am aware there have not been any added charges at all, it just seems unfair that despite making an arrangement they continue to record negative information.

[dx100uk]

as said they are entitled to do so but should have defaulted it from the off ideally

 

you should have been getting reports on the arrears better than every 6mts and statement yearly

 

poss of cash cowing going on

was the org OD made of penalty fees in the early days?

 

dx

[bozalt]

This is the only account that was not defaulted in 2008, I have no recollection of any statements being received subsequently and I have kept every bit of paperwork received. I just realised that when I sent a SARS to Halifax they sent me paperwork for all affiliate accounts so I will check through and see what they have sent me and if there were any charges on the account.

[bozalt]

Actually just found a default notice dated 4 November 2008 but no subsequent statements or updates regarding balance except requests for increased payments

Edited April 22, 2013 by bozalt

[BRIGADIER2JCS]

OK you have a DN dated 2008, but no recorded default on CRA files, did you by chance make any arrangement to pay or make a payment in time to stop placement of a default entry?

[bozalt]

Morning Brigadier

 

I tried to make an arrangement to pay with IF prior to default being served and was making payments however the DN was received subsequent to this and they passed my account to BOS in January 2009 who continued with the payment arrangment.

[BRIGADIER2JCS]

Hi, good morning, something strikes me as being wrong here IF issue a DN but don't follow it up which is unlike them!

I think a challenge is in order I'll put some thing together for you later.

[bozalt]

It is very strange, all other accounts with HBOS including my IF credit card were defaulted promptly and and normal process followed.

 

Thanks for you help once again and for the work you are putting in, a letter would be great.

 

Enjoy the sunny St Georges Day!

[BRIGADIER2JCS]

H Bozalt,

Sorry for the delay been a very busy day.

I am working on your letter now.

[BRIGADIER2JCS]

Ok,

I think we need to go back to IF and the 2008 Default Notice so: For a start this goes to the Data Controller at IF.

 

 

Ref: use the account number.

 

Sir/ Madam,

 

I refer to account No. xxxxxxxxxx which is now in the hands of BOS to whom I have been making regular payments since 2008 (correct if wrong), whilst researching my credit history I have found a default notice from Intelligent Finance date xx xx 2008 yet no default appears to have been placed or reported on my credit reference files.

 

I find this situation raises concerns in regard to the way this account is now being reported on credit reference files (copy of file entry attached) given that if a default had been placed within 6 months of the cause of action as laid down in the ICO Technical Guidance on Defaults this account would be removed from all credit files paid or not, the current reporting places me at a distinct disadvantage compared to a debtor who has made no effort to clear his debt

 

I require IF to explain why the normal and expected action regarding the status of this account has not been followed, and I wish to know IF a default was actually placed and if so on what date, if no default was placed why it was not done.

 

As explained this is placing me at a great disadvantage an I would ask IF to now amend the credit files to show a default on or just after the date on the default notice (copy attached) to rectify this unfairness.

 

A copy of this letter has been forwarded to BOS.

For information this letter is set by RM recorded/signed for delivery and its receipt will be checked.

[bozalt]

Thanks for your time and effort Brig, thats awesome I will send it off tomorrow!

 

I also found a letter notifying me of the account being terminated in Jan 2009, not sure if that is relevant at all.

 

Cheers

 

B

Edited April 23, 2013 by bozalt

[BRIGADIER2JCS]

Happy to help.

 

Interesting that the account was terminated in Jan 2009 without being defaulted, makes me wonder if a default was placed and not reported on the CRAs, doen't affect what we are doing now.

[bozalt]

It all seems very strange to me, I must admit to being a bit puzzled by it all. Would you recommend I dispute the record with the CRA also?

[BRIGADIER2JCS]

It all seems very strange to me, I must admit to being a bit puzzled by it all. Would you recommend I dispute the record with the CRA also?

ating

 

I would recommend waiting until a reply is received from them in regard

to the letter.

[bozalt]

Thanks Brig, letter has been sent off recorded delivery!

[BRIGADIER2JCS]

Good, let me know how you get on please.

[BRIGADIER2JCS]

Please keep me up to date on the situation.

[bozalt]

Hi Brig

 

I hope you are well.

 

I sent the letter on 26 April and it has been received, I have had no response or acknowledgement from either IF or Blair Oliver & Scott. Should I send a follow up letter?

 

Many thanks

 

B

[BRIGADIER2JCS]

Hi, I think they are taking this as a formal complaint with 56 days for a response.

[bozalt]

Ok thanks I will leave it another 28 days.

 

Cheers!