Defaults - the ICO has published new guidance (Jan 1 2014).

[BRIGADIER2JCS]

I'm posting this here as many questions on defaults appear on this sub-forum.

 

 

The ICO has published new guidance on default (Jan 1 2014).

 

 

I the past I have posted that " default should not be placed if the outstanding sum is made up SOLELY of charges and or fees.

 

 

This on page 6 of the Guidance document I would suggest that everyone take a good read of this new document.

[citizenB]

I have attached the document which Brig refers to below. Although I would point out the specific statement is to be found on Page 7 and not 6

 

 

 

 

A default should not be filed:

 If you make a payment, in time, that fully meets the terms set out in the

default notice

 

 If jointly with the lender an agreement is reached for an arrangement and you

keep to the terms of that arrangement

 

 If the amount outstanding is solely made up of fees or charges

 

 If a lender is given evidence that a customer is deceased (for example a

verifiable death certificate, probate or letter of administration)

 

 

 

 

 

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[BRIGADIER2JCS]

oops can't edit my posts I'll settle for page 6.5 then

[BRIGADIER2JCS]

My thanks to CB on the ball as usual!!

[WhatALife]

 If jointly with the lender an agreement is reached for an arrangement and you

keep to the terms of that arrangement

 

Does this mean if I arrange to pay £1 per month token payments with the creditor on an account that is not yet in Default then they cannot register a default as long as I don't miss a payment?

[BRIGADIER2JCS]

They MAY not file a default?? Any payment level below that contractually required is a reason for filing a default not to do so could result in disadvantage to the debtor in comparison to someone who makes no effort to pay their debts but has a default entry removed from CRA files after 6 years paid or not.