Information to help you deal with your CRF's

Moderators: TalbotWoods, JaneClack

By Von B
#219643 Hi

I have found this link regarding moving defaults from your CRF, which although appears somewhat to be cheating is possibly quite an effective strategy if correct.

I was just wondering if anyone tried this and if so if they had any success (sorry if this is a re post)

For info I was in an IVA between 2008 and 2009, which was settled by way of F&F settlement. I have sent off all the relevant letters in order to get my defaults marked as 'Satisfied' and CRF are accurate and upto date. I know that some defaults pre date 2006, however to the best of memeory I think I only received 2 default letters from my 8 creditors.

I would be interested on your thoughts?
http://www.learnmoney.co.uk/credit-file/remove_default_notice.html
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By TalbotWoods
#219644 There are various methods of getting defaults removed, some are clear cut in law and some rely on an element of 'giving up' by the creditors, but all have advantages and disadvantages.

The first thing to remember is that an entry on a CRF is removed on the six year point of the default date, setllement date, etc, but it is six years form the date of which ever occured first, so if you have an account with a default date of Jan 2004, and is marked as settled in Nov 2009, as it stands the account will come off the CRFs in Jan 2010.

However if you insist that they remove the default then the accoutn will not fall off the CRFs until Nov 2016, which then beggers the question why have the defuault removed in the first palce, as you would only mess up your CRFs for a longer period!

However, all debts that have been satisfied by either bankrupcy or IVA, should be marked as satisfied, rather than default, but the catch 22 is that the Information commiosner now allows them to mark the satisfied date as being the discahrge date, so in some instances it pays to let the defualt remain!!

The other aspect of this is that in the last couple of months a test case has been heard that allows creditors to record negative entries on a CRF even if they cannot produce the CCA, thsi was never the case before these 'we'll get your debts written off, companies becasme greedy, this is another case fo them mucking it up for us all, so they can make a few quid.

Tim
By Sherbo1960
#220173 Hi
I have been disputing a creditor for the past 8 months regarding 2 defaults registered against me since July 2004.
I have just recieved a letter from the Financial Services Ombudsman ( Adjudicator) where he does not uphold my complaint and finds in favour of the creditor. This is scary.
Firstly, creditors do not have to send you ` a true certified copy of the Default Notice under S 77 / 78 of the Consumer Credit Act 1974`.
Secondly, Defaults are not always issued after 3 - 6 months in arrears. You are warned that you may be issued with a DF in that period.
The above statements appear on many debt advice websites.
I entered a Debt Management Plan in January 2001. Since Feb 2001 the above creditor has `marked` my Credit File as AP ( arrangement to pay).
In July 2004, the creditor was settled 85%. They then enforced the Default Notice!!
The DF will be removed in Aug 2010. My CF has therefore been `marked` for 9 and a half years.
People need to be aware of the `six year period` on their Credit File. It could easily lead to double that.
Be careful
Sherbo
User avatar
By TalbotWoods
#220206
Sherbo1960 wrote:Firstly, creditors do not have to send you ` a true certified copy of the Default Notice under S 77 / 78 of the Consumer Credit Act 1974`.

Secondly, Defaults are not always issued after 3 - 6 months in arrears. You are warned that you may be issued with a DF in that period.

My CF has therefore been `marked` for 9 and a half years.
People need to be aware of the `six year period` on their Credit File.


Hi Sherbo

I agree that what is happening is morally wrong, and to a degree it is going to get worse thanks to Claim Management Companies trying to push the laws.

In November last year a CMC pushed the issue with defaults and the test case ruled that a creditor was allowed to issue a default at any-time after the account had fallen into arrears, irrespective of if you were paying it off, if there was no agreement, or even if the account was in dispute. This has the effect of legally allowing a creditor or DCA t place a default on your CRF even if you have kept up a payment plan for 10 years, and they have lost the agreement, legally they could place a default notice the day before your final payment, thus extending your 'bad credit history' record to 16 years!!

The reason why they can now get away without issuing or providing a true certified copy of the Default Notice, is again due to the test case, all that is required is to show that the account is in arrears.

I have for some time cautioned against CMC's and will continue to do so, purely because they are motivated by profit, so will force issues into court that were traditionally accepted as being the way forward. They will have a dramatic effect on debt collection, and I feel most certainly not in a positive way!!

The actual minimum time that a creditor can default an account has for a long time been 28 days after the account falls due.

Tim