Bankruptcy Credit Reference File Clean Up - Discussion

dadoandrew

fermi wrote: »

It is the date of the default for each debt, and whether it is marked in some way to indicate that it is now 'satisfied' that matters.

Firstly, the default date listed for the debt should be no later than the date of your bankruptcy. This is important because the records of the debt will be removed six years from the default date. If the records are correct, then details of the bankruptcy order and old debts should fall off the files at the same date.

In the meantime you also need to make sure that the debts are marked as settled (or partially settled) with no outstanding balance due. That will help improve your record in a very small way while the bankruptcy is still on it, but should also help prevent the former debts being sold on to scavenging debt collectors.;)

The procedure in the sticky should help you get all this marked correctly.

I've seen your other thread and you should be aware that while this 'cleanup' will stand you in good stead for the future, until the bankruptcy itself drops off the records then you will still struggle for credit.

I would be most grateful for any help in understanding the actual drop off situation. My wife was made bankrupt in 2008 and discharged the next year. I was in a trust deed which ended over a year ago. Does the bankruptcy and trust deed drop off automatically from our records?
I am thinking of trying to apply for a credit card to see what happens but would love to know more about the drop off. Thanks in advance.

fermi

Yes, the CRAs should automatically drop the records from your reports at the applicable 6 year point.

There is no need for you to do anything.

With the company Equifax there may be a delay of a few weeks before it disappears, but it will go.

pluke1973

A little info for anyone starting to clean up credit files.

It is possible to get files cleaned up without knowing your account numbers, I had seven and couldn't remember any account number.

I did have a problem with a barclaycard account, they seemed to be ignoring me. So after a little research on here, I emailed the CEO. All sorted within 2 days. And they are sending me £50 for the inconvenience :beer:

foeism

fermi wrote: »

Yes, but the default date being correct is the most crucial thing of all.

I just wanted to update if anyone wanted to know the result.

I followed Fermi's advice and the link to the letters in order to send the appropriate letter to the lenders to update and ammend your experian record, to show the correct default date.

I have just checked experian and both lloyds accounts are showing as satisfied and the default date 01/10/12, which is the date of my BR.

Just need to make sure T-mobile update their system!

fermi

Very good news.

butterbear

Hello All

I had a DRO that was completed in March 2012. In 2013 I did start the credit clean up however it has now become clear that I did not follow up enough.

I applied for a TSB current account and was turned down so checked my file and Halifax are still showing as Default for the credit card and loan I sent 2 letters to Halifax in 2013 asking for the information to be updated but did not begin any complaint nor, I'm ashamed to say, did I check.

My question is do I start the process again or do I go straight to the complaint?

Thank you in advance for any advice- I feel a fool for not checking my file earlier!!!

creditpunch

Hello all

I have reached my 6th year from BR this month with discharge 12months after BR. Is it ever too late to clean up ones CRF?

BTH I haven't looked at my file in the past 6 years because I have largely stayed well away from credit.

What is the best way to get proof of discharge because I don't think I have that. If it comes to it will the fact my BR is no longer on my CRF count?

Lots of thanks to this forum for the tremendous help through the years.

CP

tigerfeet2006

Never too late.

First thing I would do is get hold of the 3 different files and see if they are out of wack or not.

There is a way of getting notice of discharge but I can't find the link at the moment. If you need it after checking your files and someone hasn't posted the link ask again.

Brupt

Is it necessary to clean up an entry which does not have a default date but is showing as settled but the satisfied date is way after date of bankruptcy.
If untouched how would this entry look 6 years after date of bankruptcy and would it have an adverse effect on my credit.

fermi

It would remain on your credit report for 6 years from the eventual settlement date.

Until it drops off the history for the 6 years prior to the settlement would show, so whether it has much of an impact or not depends on that history. If there are a lot of arrears/late payments towards the end then it may have some negative impact, bearing in mind that most creditors pay more attention to recent adverse or good info rather than older historical data.