Credit File Issue

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allaboutme77
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by allaboutme77 » Tue Mar 20, 2018 7:30 am
Ok so I am 3 weeks from being IVA free. I have spent a lot of the last 12 months checking and cleaning credit files.
I am astounded by the level of errors and incorrect reporting across all 3 agencies. I have had to deal with both mine and my wifes. It has been very time consuming.

Anyways having believed I was at a point where all should be clear on the 6 year anniversary I have now found a few issues.

First is by far the hardest comapny to deal with and that is HSBC. We are asking them to report the correct default date they are out by 10 days, no big deal really but having done the rest with fairly no resistance we thought we’d get this one done. They are just so awkward asking us to phone this number and write to that address. We are jumping through the hoops as we should I suppose, i’m sure we’ll get there but they are not making it easy.

Ok so the one that is causing me concern is Creation Finance, we wrote to them last year and asked them to correct their reporting as they were showing us continuously defaulting every month until we wrote to them last year.
To be fair to them they dealt very swiftly with our request and we found they had reported back to all 3 agencies, but heres the issue:

Equifax - they have shown the default date for the start of the IVA, no problem here.

Experian and Callcredit/Noddle - they show a settlement date as the completion date of the IVA

From my understanding this will then remain on my file for a further 6 years for last years date?

Am I in my rights to ask them to report it properly as a default from the start of the IVA rather than settled on the completion date.
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Foggy
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by Foggy » Tue Mar 20, 2018 7:41 am
Although you have done most of it have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

The important date is the default date, which should be on or around the start date of the IVA. Settlement date, status, balance, etc, are of no import, as these will all disappear along with the default on the 6th aniversary of the default.
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allaboutme77
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by allaboutme77 » Tue Mar 20, 2018 7:54 am
Thanks for the reply Foggy, there are no default dates showing on Noddle or Experian/Credit Club just a Settlement date.
On Experian there is a statement saying that the account will be on the file for 6 years from the date of settlement.

I was hoping as Equifax is showing the default date then maybe I just can’t see it on the other 2 but I have update to date original copies from both Experian and Callcredit and they both just show settlement dates from last year.
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Ryan
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by Ryan » Tue Mar 20, 2018 8:35 am
You want the Accounts to be defaulted and as Foggy says the default date should be the IVA start date so that all the accounts will then fall off the reports at the 6 year point.

If the Creditors aren't responding correctly the quickest way some of our Clients have found is to contact them via Social Media, Companies hate other people seeing how bad their service is.

All the best.

Regards
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Foggy
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by Foggy » Tue Mar 20, 2018 8:48 am
allaboutme77 wrote:
Thanks for the reply Foggy, there are no default dates showing on Noddle or Experian/Credit Club just a Settlement date.
On Experian there is a statement saying that the account will be on the file for 6 years from the date of settlement.

I was hoping as Equifax is showing the default date then maybe I just can’t see it on the other 2 but I have update to date original copies from both Experian and Callcredit and they both just show settlement dates from last year.


The creditor could simply have neglected to report the default to all three agencies. On the link I gave there is a template letter to get the accounts actually defaulted ... use that and they should sort it out before you take the matter further.
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allaboutme77
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by allaboutme77 » Tue Mar 20, 2018 9:15 am
Foggy wrote:
allaboutme77 wrote:
Thanks for the reply Foggy, there are no default dates showing on Noddle or Experian/Credit Club just a Settlement date.
On Experian there is a statement saying that the account will be on the file for 6 years from the date of settlement.

I was hoping as Equifax is showing the default date then maybe I just can’t see it on the other 2 but I have update to date original copies from both Experian and Callcredit and they both just show settlement dates from last year.


The creditor could simply have neglected to report the default to all three agencies. On the link I gave there is a template letter to get the accounts actually defaulted ... use that and they should sort it out before you take the matter further.


Ryan That is pretty much what I was thinking which is why i am becoming increasing concerned.
Foggy that is the template I used last year and it does show they update experian and Callcredit in the same week they updated Equifax.
Are we in agreement that it looks like they will not fall off Experian and Callcredit and I need to ask for them to be defaulted rather than settled
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Foggy
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by Foggy » Tue Mar 20, 2018 11:43 am
"Are we in agreement that it looks like they will not fall off Experian and Callcredit and I need to ask for them to be defaulted rather than settled"

Yes, they need to be defaulted or, as said, they will hang around for 6 years past the settlement date.
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