I have been contacted this morning by David Woodward of Tyler Morgan Claims Limited – a firm regulated by the Ministry of Justice for the purposes of claims management.
David has expressed concerns regarding comments made on the forum about his firm on a number of postings, and has provided the following explanation of the services his firm provides to assist people in correcting their credit files once an IVA has concluded. He tells me that in his experience a number of completed IVAs are not being correctly amended by the CRAs post-completion, and that at no charge to themselves his firm will act to ensure that the files will all three credit agencies are corrected where necessary. I gather that Tyler Morgan obtain their information to enable them to contact people from the publicly available Insolvency Register.
David has not wanted to post on the forum personally, but the following is an extract of his e-mail to me this morning.
"We offer to correct the errors on people’s credit files for a donation of 8 stamps, to do so we provide an Equifax application form and suggest people send it to Equifax with £2 and forward the file to us afterwards. The reason we suggest Equifax is that for the last 2 years Equifax have downloaded the Insolvency Register daily and for IVA’s that have been removed added a Notice of Correction to that persons credit file saying “ IVA Dated xx/xx/xxxx was removed from the Insolvency Service Records on the xx/xx/xxxx”. The problem with their actions is that
1) The Notice doesn’t say the IVA is complete or failed.
2) A notice of Correction stays on a credit file forever.
In many cases an IVA that is over 6 years old still appears in the Court & Insolvency Section.
Many credit agreements on credit files show a current balance despite an IVA’s completion, whilst they should be removed six years form the default date they often aren’t.
In exchange for 8 stamps we check a credit file and prepare letters to be signed by the debtor that
a) Removes the Notice of Correction
b) Corrects balances shown as outstanding
c) Removes IVA’s that are over 6 years old.
These letters are sent back to the debtor along with a covering letter that states, if you had PPI and your IP didn’t make complaints on your behalf, then subject to the IVA terms and modifications then we maybe able to make complaints for you. We don’t send follow up letters or ever telephone anyone.
We act for IP’s and make claims for then whilst IVA’s are open, this together with our “after IVA” work has led to us having a close relationship with both the in-house and external solicitors for all the lenders.
In all cases we check the IVA terms and modifications and insist on seeing proof that PPI existed before submitting complaints, this results in our success rate of over 95%, and the refunds are made to our client’s (if IVA complete), to get to this situation has taken 4 years and considerable legal fees, with our receiving a QC’s opinion as far back as 2009.
Our Solicitor Mr Stephen Baylis is also an IP and we work very closely with him to ensure that everything we do is Legal"
I am sure that David would welcome contact from anyone who is struggling with a CRA updating issue, and given that this service is offered free of charge, with no ongoing commitment or obligation, forum posters may well see this as an advantageous service
Regards, Melanie Giles, Insolvency Practitioner
