capital one

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19 Comments

Banned

A single defaulted account on your recent credit history shouldn't have been the deciding factor alone on your mortgage application being declined. I've had plenty of missed payments with a history of poor credit management as well as my partner having a couple of missed payments on her history and we both sailed through our first application last year. As far as I understood it, the lender doesn't do a typical check like a normal credit application, it didn't even show up as a full search on our accounts when they did it. It seems they take a whole lot more into account than just the credit history.

Original Poster

Thats the only thing on my credit history though, I still dont want a default on there for 6 years when i dont deserve it.

Banned

Dipstick99

Thats the only thing on my credit history though, I still dont want a … Thats the only thing on my credit history though, I still dont want a default on there for 6 years when i dont deserve it.



If it's incorrectly there then it should be moved, I'm just querying the idea it being the sole reason for your mortgage application being declined.

Original Poster

The thing is i was assured the card cancellation had been applied. Then moved home shortly after. I trusted the guy on the other end of the phone. I am wrong to assume all was well, but i never expected this. I have payed every bill i have ever had on time, and capital one have issued me a default over such a small amount.

You should also get a copy of your experian credit file

this sometimes has different info not included in the equifax file

they also offer a free for 30days look at you file, you have to remember to call them to cancel before the 30 days
they also offer an indication of your credit score for a fiver

Original Poster

god this is so harsh.
The cancellation was a year ago aswell. I have to find a way to deal with it. Any suggestions at all ?? Anything is worth a go. I dont want a default for 6 years. I have been thinking about it non stop since i found out.

Original Poster

cheers tinks

You really are a dipstick

















Lol sorry jk

Banned

If there is nothing else on your file i would be inclined to think you have a lack of credit history. If you take out loads of loans and pay them back that will increase your rating.

You should have used the royal mail forwarding address service after moving.

its not a legal judgement and can be removed by a court for £40 as they did it without reasonable effort to contact you first, regardless of how many times you moved.

Banned

you obviously owed them money and they couldnt get their money hence the default. You cancelled the card and moved house.

Only person at fault is yourself from what I can see.

Are they expected to forfeit the £98 you owe them then?

are u declined by all lenders??

Original Poster

No not all lenders. But it still stresses me to have this on my file. Could someone elaborate on removal of the default...

If you pay back the debt and get written proof that it is settled you can send this off to experian to have the debt on your credit record altered to be satisfied. This will mean it is no longer red. It will remain to be on your credit record, although it will not do as much damage as an unsatisfied (defaulted) debt.

Banned

Sounds like a **** and Bull story to me I´m afraid

Banned

master_chief

If it's incorrectly there then it should be moved, I'm just querying the … If it's incorrectly there then it should be moved, I'm just querying the idea it being the sole reason for your mortgage application being declined.



Why would you think it wasn't? It's extremely hard to get a mortgage at the moment and a default could quite likely stop you getting one, especially with a high street lender.

OP, being blunt the letter is terrible, I would do it again removing all the irrelevant stuff and make your demands clearer.

Banned

colinsunderland

Why would you think it wasn't? It's extremely hard to get a mortgage at … Why would you think it wasn't? It's extremely hard to get a mortgage at the moment and a default could quite likely stop you getting one, especially with a high street lender.



Stated reasons above based on my own very recent experiences. A number of factors contribute to a mortgage application, if he believes it was purely because of this single black record and it isn't then he won't get any further with his next application either.





Original Poster

Thanks for your input everyone. Will redo the letter properly and hope for the best.
Again, thanks for your time everyone.
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