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Can anyone tell me what this means on my Equifax credit report?
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The End is just the date the closed down the account mortgage company closed down the account and assigned it to a 3rd party DCA.
Limit £0 Doesn't apply to all types of account; basically credit/overdraft limit
Start £0 The balance at point of opening
Current £+0 Current outstanding balance
Default £88596 The balance on the account on the date they issued a default notice (so not always the amount when the contract was breached, they may have waited and added charges and interest while trying to resolve it amicably)
Start 19/07/2007 Opening date of the account
Default 09/2010 Date default was applied (would be blank if account still open/closed without default)
End 13/09/2010 Closing date of the account on mortgage company's system (same as default date)
insight last updated 13/09/2010 Last date mortgage company sent updated details to credit agency
supplementary flag - Debt Assigned Additional info (Could be GONE AWAY, DEBT MANAGEMENT PROGRAM, PARTIAL SETTLEMENT, CREDIT INSURANCE CLAIM, VOLUNTARY TERMINATION, DEBT ASSIGNED (means sold to lender who doesn't used Equifax), DEBT SOLD TO INSIGHT MEMBER (sold to a member who used Equifax), DECEASED.
Usually you get notes through which detail each area for you, along with the symbols/abbreviations used.
Thanks for this:) below is an example from my credit file, this was for a CC not a mortgage.
HSBC PLC CARD SERVICE
Balances Limit £0
Start £0
Current £+0
Default £xxx
Effective Dates Start 03/03/2005
Default 08/2009
End 09/10/2009
Birth xxxxxxxxxx
Insight Last Updated 25/11/2010
Monthly Status SD32100000000000000000000000000000000000
Supplementary Flag Partial
I went BR in Nov09 and I have contacted all my creditors asking them to update their records. Now on the Experian file for the same CC it states "satisfied" which is what I expected, but on the Equifax files there is no "satisfied" or "settled on any of the files, that is what is confusing me:o:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
supplementary flag - Debt Assigned Additional info (Could be GONE AWAY, DEBT MANAGEMENT PROGRAM, PARTIAL SETTLEMENT, CREDIT INSURANCE CLAIM, VOLUNTARY TERMINATION, DEBT ASSIGNED (means sold to lender who doesn't used Equifax), DEBT SOLD TO INSIGHT MEMBER (sold to a member who used Equifax), DECEASED.
So does this mean the debt should appear on Experian or CallCredit reports now then?When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
Effective Dates Start 03/03/2005
Default 08/2009
End 09/10/2009
Birth xxxxxxxxxx
Insight Last Updated 25/11/2010
Monthly Status SD32100000000000000000000000000000000000
Supplementary Flag Partial
I went BR in Nov09 and I have contacted all my creditors asking them to update their records. Now on the Experian file for the same CC it states "satisfied" which is what I expected, but on the Equifax files there is no "satisfied" or "settled on any of the files, that is what is confusing me:o
That S denotes that account is satisfied/settled.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
ICO states that...The ‘sale’ or assignment of debts on defaulted accounts
52 When the rights to a debt are sold to a third party, the lender has to make sure the records with the credit reference agency are accurate, up to date and adequate. If they want information about the debts to continue on the credit reference file they will need to come to an agreement with the purchaser about who is to be responsible for this.
53 If the purchaser agrees to take control of the record, the customer should be informed that the debt has been sold or assigned and to whom. The credit reference agency file should be changed to show the name of the purchaser and that the rights to the debt have been sold or assigned. The purchaser should then make sure the record is kept up to date including changes to the amount still owed. The purchase should not affect how long the record is kept. It should be removed six years after the default.
54 Where the purchaser of the debt does not agree to take control of the record, the original lender, and at least in part the credit reference agency, will remain responsible if the original record is kept on the file. When the debt is sold or assigned, the customer will no longer owe any money to the original lender. If the record is not removed, the sale or assignment should be recorded and the balance should be shown as zero. The customer should still be told who the debt has been sold or assigned to.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Ineedaname wrote: »So does this mean the debt should appear on Experian or CallCredit reports now then?
Not automatically; only if the new company uses one of those.
One of my larger defaults has vanished (I am paying it mind) because it would seem the DCA handling it don't register. SO I don't mind
SD32100000000000000000000000000000000000
This is the account history;
Most recently it was Settles/Satisfied, the previous month it defaulted, the previous three months it was 3,2,1 months in arrears, and before that it was within agreed limits for <insert number of zeroes> months.Never argue with stupid people, they will drag you down to their level and then beat you with experience.- Mark TwainArguing with idiots is like playing chess with a pigeon: no matter how good you are at chess, its just going to knock over the pieces and strut around like its victorious.0 -
A lot of this report doesn't even make sense and it's very hard to follow. This is the entry for my mortgage which was sold to a different company, but this company doesn't appear anywhere on this file. It did on my experian one though, which has now been cleaned up.
Limit £0
Start £0
Current £+0
Default £88596
Start 19/07/2007
Default 09/2010
End 13/09/2010
insight last updated 13/09/2010
supplementary flag - Debt Assigned
Anyone know what this means?
It's really awkward that it doesn't show account numbers or anything too. I have another entry to sort out but I have no reference at all for the account. Can't even remember where I was living when I had it.
So reading through the OP above again. It appears there is nothing needs doing. The Equifax report above is sold on and appears on Experian where it's been cleaned up.When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
Ineedaname wrote: »So reading through the OP above again. It appears there is nothing needs doing. The Equifax report above is sold on and appears on Experian where it's been cleaned up.
Looks like it; all that's happened is that when it was defaulted the mortgage company passed it on. the new company just happened to use a different CRA, and after the BR it just got closed off completely.
Done and Dusted.Never argue with stupid people, they will drag you down to their level and then beat you with experience.- Mark TwainArguing with idiots is like playing chess with a pigeon: no matter how good you are at chess, its just going to knock over the pieces and strut around like its victorious.0
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