Information to help you deal with your CRF's

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ByMrBroke
#206425 My last default will clear off my file next August & the debt paid a few mths later.I've kept to the agreement for the past 4 years so i don't think they will but if for whatever reason the DCA sold the debt onto another DCA before next August, could the new DCA add their own default which lasts another six years? I know you can only have one at a time for a debt but in theory if your debt kept getting sold on could you keep getting new defaults? I'm just getting a bit paranoid so close to it being clear!
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By Yogi Bear
#206429 No. An account can only be defaulted once, which normally happens just after the Default Notice is issued and the agreement is then terminated by the lender.
ByMrBroke
#206433
Yogi Bear wrote:No. An account can only be defaulted once, which normally happens just after the Default Notice is issued and the agreement is then terminated by the lender.

Thanks, it's too late for me to worry about now but does that mean a DCA can only change the details of the original default to their name etc but not the date? as my original default date was several years before what it says now. I'm just counting down the days until it's gone & i can forget about the last 10 years! :wink:
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By Yogi Bear
#206434 If a debt is sold, the new owner can create an entry in their name for it, as long as the original lender removes theirs. But the data (dates, amounts etc) must be accurate: if it isn't then file a dispute with the agency to get it corrected.
ByMrBroke
#206443 Sorry if i'm being a bit thick here, but does this mean a DCA which has bought a debt has to put the default date the original lender defaulted it, or can they put a different later date to reflect when they took it over? :?
ByMrBroke
#206469 Even though i know the original default was at least 8 yrs ago with my Abbey credit card, i do not have anything to prove it. If i do dispute it, won't it just be my word against whatever default paperwork 1st Credit feels like making up & giving the CRA, or would the CRA have to dig deeper & maybe go back to the original creditor? :?
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By Yogi Bear
#206487 Yes: if you dispute a dafault (or anything else on your credit file) then legally under the Data ProtectionAct it puts an onus on the agency to verify that the data is in fact correct. Although in this case, they probably wouldn't know who the original creditor was.
ByMrBroke
#206538 1st Credit has the default down as a Hire Purchase instead of the credit card it was, is this just what they generally put or an indication they have no idea what the debt was originally for? They also have the day wrong on my birthdate, i'm just about to CCA them & was thinking if they don't know then maybe there is a greater chance of them not being able to provide the proper paperwork.