Default registered on CRA on the day first payment missed!

[racingrandom]

Hi,

 

I had a loan from Mr Lender in June,

 

 

I rolled the loan over five times but

 

 

when it came to paying the whole thing off in one go I couldn't afford it,

I missed the payment on 19th December 2013.

 

I set a payment arrangement for three months to pay the debt off,

I made the first payment in december with the next one being due at the end of January which I didn't pay and made no further payments.

They sold the debt to Motormile Finance in march and I am still to hear from them.

 

I've checked my credit file and it shows a record of the Mr Lender account,

it shows as closed and settled on the 19th December and MMF now shows as the new owner of the debt.

 

The problem is that on the entry from MMF it shows that the account closed and defaulted on the 19th December 2013

even though I had set a payment arrangement with Mr Lender

and made the first payment to that in December with the next one not due until the 31st January 2014.

 

The ICO rules state that if you enter into an arrangement to pay with a creditor

then this will show as an arrangement to pay and this will not show as further arrears unless the arrangement is broken.

 

 

As I was in an arrangement to pay and I have clear proof that I was then the default date is totally wrong,

this to me says that the whole default is flawed and must be removed from my credit file.

 

Can any one please help with views on how I should deal with this,

 

 

should I approach Mr Lender or MMF?

 

 

Should I ask that the default be removed permanently?

 

 

I'm guessing that they would just change the date of the default on my credit files

but wouldn't they need to go through the process to default me all over again before they could do that?

 

Any views would be appreciated.

 

Thanks

[dx100uk]

the OC would have defaulted the loan before sale [usual MO]

 

 

once sold the buyer will simply have their name transposed with the oc's.

 

 

you don't want an AP Marker, it never goes away.

 

 

they are sadly quite correct to mark your file defaulted

even if you enter into an arrangement.

 

 

dx

[racingrandom]

Thanks for the reply.

 

How can they register a default against me on the 19th of December when I'd entered into an arrangement to pay,

made the first payment in December

then didn't pay what was due on 31st January.

 

 

Surely the date of the default is incorrect if I didn't actually default until the latest 31st January?

 

The information that the creditor shares with the CRA's has to be a true reflection of the account at the time

and as far as I can see from ICO information the information on my credit file doesn't accuratly reflect what happened with the account.

 

 

I have proof to say that I was in an arrangement until 4th February

when I received an email to say that the repayment plan is no longer in place as I hadn't kept to the repayments.

[dx100uk]

they are within their rights to enter a default

as soon as you inform them you cannot pay the contractual payment.

 

 

its actually doig you a favour even if you think its earlier than what it should be

 

 

the quicker it falls off

 

 

an AP marker can be showing for 12yrs in silly circumstances and is never removed

it will remain in the account history

 

 

whereas with a default

the whole debt, paid or not

vanishes from the file on its 6th birthday.

 

 

but ofcourse that doesn't mean its no payable if they have an enforceable agreement.

 

 

dx

[BRIGADIER2JCS]

Thanks for the reply.

 

How can they register a default against me on the 19th of December when I'd entered into an arrangement to pay,

made the first payment in December

then didn't pay what was due on 31st January.

 

 

Surely the date of the default is incorrect if I didn't actually default until the latest 31st January?

 

The information that the creditor shares with the CRA's has to be a true reflection of the account at the time

and as far as I can see from ICO information the information on my credit file doesn't accuratly reflect what happened with the account.

 

 

I have proof to say that I was in an arrangement until 4th February

when I received an email to say that the repayment plan is no longer in place as I hadn't kept to the repayments.

An arrangement to pay Is a default on the contractual payment the placement is correct as dx100 has said an AP marker is worse than a default.