Retrospective Default what happens to DCA records?

[Seaview123]

Hi there,

 

I had a Barclaycard I thought had been defaulted with the CRAs back in 2009 due to a Notice of Default I had received.

 

Barclaycard actually added late payment markers '6' for over two years before closing the account and selling on to Cabot.

 

I have spoken with Barclaycard and I think they are going to agree to a retrospective default. However, I am arguing this should have been in May/June 09 when they first send Default notices and applying default sums to the account. They are saying Oct 09 is when their records showed the account was regarded as a defaulted account.

 

Obviously if they do this and it is May they agree to then the account would be 6 years from default and should be removed entirely from my file, correct?

But what would then happen to the Cabot entry? It is the same debt but they are reporting an arrangement to pay (albeit they haven't shown the diminishing balance of those payments since 2011). I have already written to both Barclaycard and Cabot and the CRAs complaining.

 

But I want to know how I go about and if the Cabot entry must come off once the Barclaycard default 'falls off'?

 

Thanks

[Andyorch]

A Notice of Default is not a Default Notice nor is it registered with the CRA,s

 

Its a formal letter from a lender sent when you fall in arrears. The notice sets out the arrears and what you have to do to put things right, within 14 days. Failure to respond to a notice of default results in a default, which appears on your credit file for six years, irrespective of whether you subsequently pay the account in part or in full.

 

The notice is required before creditor (lender) can take any of the following five actions: terminate the agreement, repossess goods or land, demand earlier payment of sums due under the agreement, treat as restricted, terminated or deferred any of the debtor’s rights under the agreement and enforce a security.

 

It applies to all types of breach of a regulated agreement, not just default in payment and is only applicable where the creditor intends to take one of the five types of action. A simple reminder not threatening one of these actions is not a Default Notice and not governed by Consumer Credit Act 1974.

 

Regards

 

Andy