www.iva.co.uk

Well, after a few years of denial, I have decided that in the new year I am likely to apply for an IVA. To get the ball rolling, I thought I'd order my statutory credit report from experian, which duly arrived online for me to view. After I few deep breaths I opened the link and much was as I expected. 2 CCJs, one from northern rock for 27k (this was a joint loan with an ex) and one for 18k from first direct (just mine). I haven't paid anything towards either of these and nobody has ever traced me about them. Strange.

What was strange was that in my list of credit accounts, there was one for a northern rock mortgage of 91k, defaulted 11/08/08, Now the house that was for was reposessed in 2008 and I happen to know it was sold for just 70k...a shortfall of 21k...yet the entry on my credit file shows 'balance satisfied' how can this be??

Also the 27k loan that was in the CCJ section also shows as 'balance satisfied' in the credit accounts list.

In addition to these points, there seems to be alot missing. For example in 2008 I defaulted on a car lease plan, which left a shortfall of around 7k, this isn't even mentioned on my credit report. I also defaulted on some payday loans in more recent times, nothing is mentioned of these either.

Hi, I'm sorry I know nothing about credit records but will bump up this post for another poster to comment on. x

Remember that different lenders report to different agencies so get your report from call credit and equifax as well as experian.

Paul

I have tried to get my report from equifax and callcredit but their online applications both got upset that I'd had more than 3 addresses in the last 6 years, so I've got to fill in the paper forms. Strangely enough they have both still taken £2 from my debit card!

So does anyone know why the northern rock entry might say 'balance satisfied'?

I've no idea but some of our posters are very good on credit file stuff. Good luck with the iva x

Is it possible that NR have written off the shortfall?

If NR sell a debt on they will mark it as satisfied, it could have been bought by someone else

NR could have sold it on, that is a possibility. I doubt they'll have written it off...it's alot of money! Other creditors have relentlessly looked for me for far less! Would have thought the buyer of the debt would show on my file also. Then again I havent seen my CRs from equifax or call credit yet, the process for getting these is about 10 times harder than with experian! Just spent 20 minutes on the phone with an unintelligible foreign lady asking me questions about my old credit agreements....and now I have to scan and send copies of my ID, expecting call credit to be the same.