Capquest default

[gull5]

Hi everyone I'm a newbie I hope I am in the right place. This is my problem if anyone can advise.

 

I had a credit card account with Liverpool Victoria which fell into arrears after a redundancy. I paid them 50% of the balance and agreed £35 p/m with no interest charges which was adhered to. My CRA report showed 6months in arrears for this.

 

In July 2009 the debt was sold to Capquest without warning. I did receive letters from both parties stating this. Contacted Capquest and made arrangement to pay £60 p/m until debt is cleared they are not charging me interest and all payments have been made without fail. There is nothing on my CRA report regarding this and the Liverpool Victoria account shows settled with all Green zeros to show the account was up to date.

 

In January this year I looked at my CRA report and Capquest have entered a default for the above dated when they bought the account. My credit score has now gone from 987 to 650.

 

The response from Capquest is

 

"We were not reporting on this account as we didn't have the correct information to report. In January we did a clean up and we now have the correct information to report so have placed the default on the credit file. Although the customer has been a regular payer since the account has been with us, the account did default so default is correct."

 

Can they do this? I know the account with Liverpool Victoria was in arrears, but there was no default notice, and nothing from them to say thats what they were intending. I thought my credit problems were over now I am stuck for another 4 and a half years.

 

What chance have I got if any of getting this default removed? I don't have a problem with the debt itself just the default.

 

Any advice would be gratefully received.

Sorry if it's long winded.

Edited February 16, 2011 by gull5

[silverfox1961]

Hi and welcome to CAG

 

Can you clarify what year you got into difficulties.

 

I happen to think this default should go anyway, You were in a "payment Arrangement" and that is what should have been placed on your credit report. If you had only been making token payments (which £35 surely isn't) then a default could have been automatically placed.

 

Have a look at the guidance from the Information Commissioner

http://www.ico.gov.uk/upload/documents/library/data_protection/detailed_specialist_guides/default_tgn_version_v3%20%20doc.pdf

[gull5]

Hi, thanks for your reply silverfox1961, I was made redundant in January 2006 so the payment arrangement was made shortly afterwoods. I kept this going at this rate while I was paying others that shouted louder. I thought LV were happy with this until the letter arrived telling me they had sold it to Capquest in July 2009. The default appeared January 2011 and is dated July 2009. I think Capquest work on the theory that because they bought the debt it must have been defaulted and automatically place that on your file. Do I need to ask them for evidence of the non existant default notice?

[silverfox1961]

As I see it( others may disagree) if a default was going to be placed, it should have been done no later than July 06. As you were in an arrangement to pay, no default should have been placed because it is not an accurate reflection of you credit standing.

I would spend a tenner and send LV a SAR to get an accurate state of your account at the time of your troubles. This should also show whether LV defaulted you or not. If not, complain to Capquest first then see what happens. If they reject, go to the ICO

[gull5]

Thanks for the advice Silverfox1961 I will post back how I get on, I think it may take some time though.

[cerberusalert]

They have 40 days to provide the SAR information... send it to the original creditor.

[gull5]

hi, all received sar info from lv. There were two default notices sent but both were remedied and lv did not follow up on these, I have confirmed this by telephone with the guy that sent the info. I guess I should now complain to capquest and see what happens.