Unbelievable that my loan got defaulted during Covid-19
I had been sick for the last few months and could not work so I had to pay George Banco a reduced payment that I made every month as per our agreement. I was selling my buy to let and planned to clear of the arrears as soon as the sale completed.I was in constant conversation with this company updating them of my state of finances. I was advised that as long as I could keep the arrears under 4 months the loan will not be defaulted, although it was difficult with no income I made the payments as per our plan. End of March unfortunately due to Covid-19 I could not complete the sale of my property (the business secretary said that no one should buy or sell at the moment) I was advised by George Banco that to avoid a default I had to go back to the full contractual payment, I paid as advised. On the 9th of April I got a call from George Banco saying that I had been selected to have my arrears deferred to the end of the loan I was happy. Yesterday I got an email from my credit report saying that I had a default on my file …… SHOCKED AND CONFUSED.
I called my account manager and asked what happened I was expecting a notification to say that my account was up to date as per our last conversation and he could not answer. I have asked a manager to call me back and still no one can explain what happened. This is the most useless, confused, disorganized and mean company on the planet. If you love you future stay away. It is full of extremely unqualified and untrained staff with no clue on FCA rules or finance experience.
Reviewed on: 24th April 2020
