My DRO just ended, credit report not updated.

spottycup · 4 August 2015 at 2:19PM

Hi all
I posted messages regarding my debt problem last year, I had many helpful replies :beer::beer:. I was originally on a DMP but our finances became worse and I ended up with a DRO.
Well my moratorium period has just ended (mid July) and I find myself back here looking through the advice!
I have just checked my credit report and all of the debts are still showing, should I wait for at least a month to give them chance to up date or get on their cases now?
After reading through other posts, I have the original confirmation letter and also the report from insolvency register showing dates. I just wondered if anyone knew how long things might take?

Would like to add that I did my DRO through National Debt Line, they were fantastic and I would definitely recommend.
To be honest I don't feel the great sense of relief that I was expecting to feel knowing that I am clear of debts, our circumstances were so bad that I had no other option and we still live a basic lifestyle now but...lesson learned I will be extremely careful in future and I never want to be in that position again!

Lucy5781 · 4 August 2015 at 3:56PM

I sent the letter (template on MSE forum somewhere) asking my creditors to update their files and mark the debts as 'settled' straight away. In the main that worked within a month or two. However, one is still showing (DRO ended almost a year ago) and has been sold on AGAIN recently so I've sent a copy of the letter to that company as well, last week.

Good luck and well done on completing your DRO.

Lxx

fermi · 4 August 2015 at 6:15PM

Defaulted account will remain 6 years from the default date, not removed immediately after.

A DRO means that they should be defaulted with that date on or before your DRO, and now marked in some way to indicate they are satisfied. The default remains though for the 6 years.

So you need to look at the default dates and status to see if they are right.

mwarby · 4 August 2015 at 6:38PM

When my IVA finished it took 3 months for most creditors to update and close off accounts, 1 or 2 took a couple of months longer

Personally I'd wait till at least end of Aug pref Sept before chasing creditors

spottycup · 4 August 2015 at 7:28PM

Thanks for replies, my credit report says that I still owe these creditors, the individual accounts all show defaults through the calendar months. I understand these defaults will still show for 6 years but I was expecting the balances to now be zero and account marked as settled at the moment it still looks like I owe 13k.

fermi · 4 August 2015 at 7:33PM

In that case you should be writing to them complaining.

The principle and letter here is the same

http://forums.moneysavingexpert.com/showthread.php?t=677875

Just that references to a DRO replace those to bankruptcy, default date must be no later than the DRO start, and be marked as settled no later than the DRO end date.

spottycup · 4 August 2015 at 7:40PM

Thankyou Fermi, this is really helpful :-)

mwarby · 4 August 2015 at 7:52PM

spottycup wrote: »

Thanks for replies, my credit report says that I still owe these creditors, the individual accounts all show defaults through the calendar months. I understand these defaults will still show for 6 years but I was expecting the balances to now be zero and account marked as settled at the moment it still looks like I owe 13k.

The debts will be marked as settled, or maybe partially settled with a zero balance. Worth bearing in mind most creditors update once a month and it takes time for the message to get through and your account updated

spottycup · 4 August 2015 at 7:59PM

Thanks mwarby, I signed up for a free trial to view my report but I think I may need to keep it going at least until I can get things sorted. Have you any experience of noddle? Reading through the forum it seems this is a very basic report but it's free?

samj2007 · 4 August 2015 at 8:02PM

hope you don't mind me asking but if you were defaulted and still have a balance outstanding after 6 years (that you are slowly paying), will the default still be removed? Thanks

mwarby · 4 August 2015 at 8:34PM

sam - defaults always drop off after 6 years along with the account, this doesn't remove the debt, it's just not reported

spottycup - Noddle is fine, I would use that and get £2 reports from equifax and experian after 3 months, then get any incorrect entries adjusted ,then another set once creditors have claimed to have corrected anything

My DRO just ended, credit report not updated.

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