Central Trust***Resolved***

[Rob4]

Hi.

 

In 2007, I took out a secured loan with Central Trust.

About 2 years later I had major health issues and became unemployed, and still unemployed.

I started on a roller coaster, relationship failed and the debts mounted.

 

Illness was so bad at one point, I was sectioned under the mental health act for a number of months.

My house was repossessed in 2013.

I hadn't paid the mortgage or any loans for many months.

 

I did have PPI on the loan, but the moment I tried to claim they said the illness must have been before I took it out, so they sent me a cheque for the fee.

Things are extremely hazy for these years, but I moved into rental accommodation in 2013, the house as far as I am aware covered the mortgage despite the secured loan being the one that took the case to court and won possession.

I never heard anything from Central Trust ever again,

 

when I joined an online credit score firm, I noted that the entry for central trust showed missed payments up to April 2013, and then noted as 'settled' and nothing owing in May 2013, and that has since fell off my credit report, which I presume is due to being over six years old.

 

This week I thought I would check my records and noticed that my credit score had nose dived and more concerning is Central Trust have placed a late payment of just over £24,000 in June this year, but it shows nothing prior to this.

 

When I click 'payment history' is shows nothing, almost like a new account.

The date of opening shows 2007.

So I am totally confused after 6 or 7 years of hearing nothing, except the account being settled in 2013, this new entry pops up from nowhere.

 

I have no idea who to turn too or who to seek advise from.

 

I would be grateful for any pointers.

 

Kind regards,

 

Robert.

[Rob4]

Many thanks Andy. That is them. I have done as you have suggested, and done an online incident with Equifax, which is where I saw it. I have received an email reply saying they will deal with within 28 days. I didn't realise it was going to be that easy. Your guidance is appreciated. 

[Rob4]

As further update. I have received an email from Equifax saying my incident has been sent to Central Trust asking for the entry to be changed.

[Rob4]

Hi Andy.

 

I have noted your points. I don't have any paper trail, not heard from them for over six years.

Likewise the entry on Equifax, that dropped off last few months back, and the last entry stated 'settled'.

 

Can I presume Equifax would have that information for themselves?

 

I am in a far better place these days and have no issue with any battle.

 

Is the Financial Ombudsman the next place to go should they deny my complaint?.

 

Your helps is much appreciated.

[Rob4]

Hi Andy.

I am pleased you mentioned that on your message before your last one.

I have managed to save the full file as a PDF, which shows at June 2013 on-wards, the account was marked as 'Dormant/Inactive' for six months and then in red 6 (in arrears) until June 2019. This was on Experian.

 

Nothing on Equifax except June 2013 saying 'settled'.

So it does show for six years that nothing happening to the account.

 

Then a new account is placed in June 2019 but this time on Equifax, and it then disappears from Experian.

So they simply stuck the balance on as a new account.

Can a company really be the that sly?

 

 

[Rob4]

Thanks for the warning Rob.

 

At least I have my file which shows what they have done. As you say, knowledge is power. Can't thank you enough, I should of known what they were capable of with their behaviour many years ago. Your sort of think they had changed.

[Rob4]

Hi Andy. Your prediction is correct. Received an update via Equifax as follows ' I can confirm that this account is NOT settled and there is an outstanding balance of £24,743.66 which the customer needs to pay. The customer's property was sold in 2013 and this resulted in a shortfall to Central Trust of the above amount. There is no change to be made to the customer's credit profile. '

 

Do I now go to the Ombudsman?

 

Many thanks in advance.

[Rob4]

H Andy.

 

I will do a DSAR request. The original default was dated 2010/11 and I have not received any communication of any sort from them since summer 2012. I also never received any form of balance sheet once the house was sold. Is it worth while making a complaint to the ICO? I will keep you posted. many thanks again for your help. Appreciated.

Edited June 26, 2019 by Rob4

[Rob4]

Many thanks. I will get on with that.

[Rob4]

Hi Andy. An interesting development. I have had a letter, clearly spurned on by my complaint to Equifax. They appear to have agreed to the the dates. But they are going to chase the debt and but they have now stopped adding interest. Am I able to upload the letter securely for you to read?

[Rob4]

Now attached Andy.

rob.pdf

[Rob4]

Hi Andy.

 

I made no payment to them from about August 2012, I was fighting a loosing battle and just gave up, same with the mortgage.

The last contact of any sort from them was 2012.

 

Not a glimmer of anything, no phone calls and I have the same phone number, and the first letter I have had since 2012 was the one attached above, sent this week.

 

its near to seven years since they bothered to make contact.

I have never seen any form of balance sheet.

 

The original loan was £9000, when I became ill and unable to work, they sent about £1600 as they stated my illness would of been present before the insurance was taken out. But that was about 2008/2009.

 

I wasn't in a good place back then, I have moved on since then and strong enough for the battle.

 

I don't have a single letter of anything from them, everything went to the recycle bin years ago.

So a request to get the data seems my best option now.

 

Thanks again for the help.

[Rob4]

Hi Andy. No it was a secured loan, 100% not a second mortgage. Length of time I think was 10 years.

[Rob4]

Hi Andy.

 

Are you saying i don't have to reply to their letter? I was presuming I would have to write to someone and get them to make it statute barred. If they are now going to continue updating my credit file, I will need to do something. Many thanks.

[Rob4]

Many thanks Andy.

 

I have made the DSAR request today.

[Rob4]

Hi Andy.

 

I have today received a digital file from them with various documents.

I don't fully understand most of it, but noted that the loan was first defaulted 7th July 2008.

 

What else do you need from the documents that is helpful?

 

The original loan was £8500.00.

So a whole load of fees have been put on, and that doesn't take into account what I did pay.

The figures are all on an excel file with letters I don't understand.

 

Interesting documents when I made a complaint, and used a Company, over why they sent the PPI money back rather than allow it to pay for the loan. I was out of work then due to mental health.

 

There are two files,

one is the excel and

the other a PDF with all the letters etc in that one PDF in date order.

 

The last payment I made appears to be Nov 2011.

[Rob4]

Hi. I have screen shot part of the document. When I click on any of the dates or areas, nothing appears to be hidden with in it. Just a log of dates etc, under the title letters.

[Rob4]

Hopefully I have got this right. This is in the excel page marked letters.

 

Noted as 'Default' - 07/07/2008.

Noted as 'Default Sum Notice CCA' - 08/10/2008.

 

There are then a loads of entries with the same sort of wording.

 

Hopefully I have provided the right information?

 

[Rob4]

Now attached the letters log. Is this what you mean?

BOOK LETTERS.pdf

[Rob4]

Hi. And that is good news Andy? I find it all confusing, not knowing what I am looking at or what it means.

 

Do I need to do anything ?

 

I really appreciated all the help given, my apologies if I come across a bit stupid.

[Rob4]

Many thanks Andy. Much appreciated. I will do the required research.

[Rob4]

The guy, I spoke to said 'he was in a new role and was case manager to a number of historical cases'. It's likely other CAG members can expect something. Here is my update:

 

After 2.5 years of nothing, I have this week received an email, phone call and text. My credit file, which they recorded Late Payments, was also suddenly changed to Missed Payments, yet nothing was noted for the previous five years. The issue after speaking to them, was the date I consider the loan to be statute-barred, was a start date of Nov 2008 (12 years ending in 2020) But they are saying the first date is 2013 when the house was sold by the mortgage company and the shortfall being sold to them.

 

I have had zero contact with them for a decade or more, when I contacted them in 2019 for incorrect information on my credit file, something they refused to change. They have accepted that interest payments would be statute-barred (2 years), so their record of the outstanding balance is not as high as they say it is, but up to the last call they had no idea what the outstanding balance was made up from, original loan 11k, the balance is now 25k.

 

The next issue is the PPI's,(edit by DX)  when I was unable to work due to ill health they refused to pay out on grounds of 'illness being present before the insurance was taken out'. I have told them I will be revisiting this at some point due to still waiting on a reply from them in 2017 saying they were still looking into it.

 

Today I received an email now saying that my credit file has been updated to show NO missed payments - this is some turnaround from their original 'we will remove it when you pay the full balance. I will continue to check to see when it does change. I am far from clear why they apologised and changed it. I have however stressed that when they suddenly started to report missed payments on my credit file, it gave me all sorts of issues with even simple things like a mobile phone contract.

 

For the moment, I am waiting for two more decisions from them.

 

1. How is the balance outstanding made up, interest, fees etc. and

 

2. What they want from me,

 

will they write it off due to statute-barred?

Or ask for a payment?

 

As for payment, I have stated (which has been recorded) I will dispute any request for payment and move to the next stage of Ombudsman, in which they can also consider a compensation claim for the incorrect credit file recording which has sat there for 2.5 years (I have taken a screenshot of this) as well as the PPIs complaint which they accept was not 'fully dealt with', whatever that means.

 

The guy I spoke to was pleasant, not a glimmer of threats or abuse as before, and today they did something I didn't expect, emailed to say my credit file has had all missed payments removed. 

 

I am far from convinced this positive step is the start of a pleasant relationship with them, I don't trust them one inch, I am certainly guarded. But for the moment I need to wait on what they want from me. I have made them aware of my circumstances, and certainly not in a position of paying anything. 

 

I also had a chat with the National Debt Helpline, and they told me the same as CAG did.

 

I will keep this updated as it now looks to become an end result, whatever that result will be.

 

 

 

[Rob4]

Hi.

 

Many thanks for your reply.

 

They maintain 12 years starts from 2013 not 2008, but still waiting on a written breakdown and what they are saying.

 

I should have written PPI, thats correct, my apologies.

[Rob4]

Hi.

 

I am told I will see the chnage to the credit file which maybe January before it shows up, I will know more once that is live.

 

I have now received their recovery summary, I can't say I understand it. Is it safe to upload to here? It does map out all the costs.

 

That is correct, the house was repo'd 2013, but 12 years would be 2025?

[Rob4]

Hi, Now attached. Appreciated.

statement recovery.pdf