Problem on my credit report.
Discussion
Just looking for some advice on how to tackle this problem.
Many moons ago when I didn't have a reasonable credit record or much money, I stupidly purchased a car through Welcome Car Finance.This was in 2003.
The payments were quite high for what I had purchased but at the time I really had no other options. I was also suckered into buying every insurance going as I was told it wasn't an option.
Fast forward to 2005 and I find myself in a position to afford a new car(older model, heavily discounted vectra c) . Looking through my agreement with welcome, I see that I can end the agreement after more than 50 % has been paid and let them take the car back. This is where you can imagine the problems started.
When I phoned them up, I was told that I'd have to pay for all the insurances that were addded onto the agreement , as they were the last things to be paid on the finance agreement after the insterest then capital. So begrudgingly handed over something just shy 0f £600 if I remember correctly.
Then I was told that the car would need to be inspected by the RAC and any faults put right. I generally keep my cars in good condition, but still had just shy of £200 of cosmetic stuff to pay for.
The car was then taken away and I know was auctioned , as Ive had discussions with Welcome a few years ago and was told this.
So I can only assume my £200 went straight into something other than sorting out the "issues" with the car.
This I thought was the end of it.
Some time back in 2008/9 I had a problem getting credit,despite me being on top of my payments for years. Checking my file, Welcome had defaulted my account with a balance of £23. I hadn't heard from them in years, and had never been told there was an outstanding balance. If I had, and for only £23, it would have been sorted immediately.
A call to them at the time had me talking to someone who appeared to see what was the problem, and couldn't understand where this £23 had arisen from. I offered to pay it then and asked for them to show my account as settled, rather than default.
Fast forward to now, and I still have a default recorded with them, for the same balance, but shows as settled with the the last couple of years all showing as fine. The record shows as being last updated on february 2011. Is it Experian or Welcome doing this?
Experian is showing my credit record as excellent with a score of 996 but has this highlighted as an attention item.
I stuck firmly to the credit agreement with Welcome, paid everything that was asked and then some, but have my credit record ruined by this one item.
Is there anything I can do to sort this?
As stated, despite assurances after talking with them last time that it wasn't right, nothing was done to correct it. I believe the same will happen this time around.
Sorry for the wall of text, but any help would be gratefully received.
John
Many moons ago when I didn't have a reasonable credit record or much money, I stupidly purchased a car through Welcome Car Finance.This was in 2003.
The payments were quite high for what I had purchased but at the time I really had no other options. I was also suckered into buying every insurance going as I was told it wasn't an option.
Fast forward to 2005 and I find myself in a position to afford a new car(older model, heavily discounted vectra c) . Looking through my agreement with welcome, I see that I can end the agreement after more than 50 % has been paid and let them take the car back. This is where you can imagine the problems started.
When I phoned them up, I was told that I'd have to pay for all the insurances that were addded onto the agreement , as they were the last things to be paid on the finance agreement after the insterest then capital. So begrudgingly handed over something just shy 0f £600 if I remember correctly.
Then I was told that the car would need to be inspected by the RAC and any faults put right. I generally keep my cars in good condition, but still had just shy of £200 of cosmetic stuff to pay for.
The car was then taken away and I know was auctioned , as Ive had discussions with Welcome a few years ago and was told this.
So I can only assume my £200 went straight into something other than sorting out the "issues" with the car.
This I thought was the end of it.
Some time back in 2008/9 I had a problem getting credit,despite me being on top of my payments for years. Checking my file, Welcome had defaulted my account with a balance of £23. I hadn't heard from them in years, and had never been told there was an outstanding balance. If I had, and for only £23, it would have been sorted immediately.
A call to them at the time had me talking to someone who appeared to see what was the problem, and couldn't understand where this £23 had arisen from. I offered to pay it then and asked for them to show my account as settled, rather than default.
Fast forward to now, and I still have a default recorded with them, for the same balance, but shows as settled with the the last couple of years all showing as fine. The record shows as being last updated on february 2011. Is it Experian or Welcome doing this?
Experian is showing my credit record as excellent with a score of 996 but has this highlighted as an attention item.
I stuck firmly to the credit agreement with Welcome, paid everything that was asked and then some, but have my credit record ruined by this one item.
Is there anything I can do to sort this?
As stated, despite assurances after talking with them last time that it wasn't right, nothing was done to correct it. I believe the same will happen this time around.
Sorry for the wall of text, but any help would be gratefully received.
John
2007. Although I think that it shouldn't have been recorded as a default in the first place. The thing that concerns me is that the file shows that it was updated in 2011, and it appears as though it was updated a couple of years before that and showing as late payments, even though it was done years before hand. My concern is they will constantly update it to keep it live if you know what I mean.
I'm going to get onto it on Monday and see what gives.
I'm going to get onto it on Monday and see what gives.
Sarnie said:
Default was registered in 07....................
OK fair enough but the highest score you can get is 999 so he must have virtually no debt whatsoever at present and therefore would not be seen as a bad risk. Credit score is not the only thing taken into account when deciding whether to loanI know, but it's obviously enough to worry some lenders as I was refused for a personal lone just the other day. This got me worried enough to re-open my experian online membership and have a look. Hopefully I can get to the bottom of this tomorrow. I cant quite shake the feeling that the have done this deliberately.
Your refusal might not have anything to do with your experian score as the scores do not take into account how much you earn and don't cover all of your credit only those companies signed up to Experian, You can get this resolved by contacting Experian and instigating a notice of correction.
k all - its just soemthing Experian made up.Gassing Station | Finance | Top of Page | What's New | My Stuff