Credit Rating: How it works and How to improve it discussion area

RobH1974

Thanks Izool for the info. I find it unbelievable that a default from back in 1996 can be put back on my file 11 years later! And what makes it worse is the fact its Barclays who I have a credit card, overdraft and mortgage with!!! Muppets. Will let you know what happens.

never-in-doubt

RobH1974 wrote: »

Thanks Izool for the info. I find it unbelievable that a default from back in 1996 can be put back on my file 11 years later! And what makes it worse is the fact its Barclays who I have a credit card, overdraft and mortgage with!!! Muppets. Will let you know what happens.

Who added the default, Barclays or a DCA? i.e. what name shows by your credit report?

Also, does the entry match your card number (i.e. the reference), its not an old closed account or anything is it?

If it was incorrectly placed then they (as do the CRA's) have a duty to remove it. They cannot be fined as such, only if you take civil action direct.

The ICO only offer guidance and procedural policy to lenders - they cannot enforce fines or punishment, unfortunately.

So in your case you should check exactly what the debt it and in relation to what, you can contact the CRA to get the account details and name/address of the lender easy enough - then see if it tallies with the account you have - if not, then you may have an older account - if so, then write to whoever placed the default - not necessarily Barclays (unless they did register it).

If this default is from an old debt, as you say, then you're right they cannot register it again and you should (in the first instance) request it is removed by contacting the CRA as they have a duty to keep your data accurate.

Good Luck - should be easy to sort, if you find yourself banging your head then give me a shout and i'll sort you a nice threatening letter to send them.....

izools

Yes indeed you and me both have a pleasant battery of well worded letters that have succeeded in gettin defaults removed in the past!

In my personal experience however, I've found that raising a notice of dispute through credit reference agencies is not effective unless the creditor also has something in writing direct from the customer explaining why the data should be ammended or removed. Without that creditors have always just pinged the NOD straight back to the CRA

RobH1974

Never-in-doubt: It seems it was Barclays that added it but I can't check the account number as its 13 years old and I have no paper work left from those days, however the amount showing as defaulted ties up to the amount on the card at the time.

Some time last year I got a letter from a debt collection agency chasing the said debt (who then in turn tried to chase my wife for it even though we didn't even know each other in 96!) we ignored it as over 6 years old.

The CRA was Equifax, who quite frankly were useless and just were not prepared to help in any way,their advice was to call Barlcays.

I'll fire off a letter to Barlcays and see were I get but thanks for the advice and I may be back for one of those letters!

izools

I'll see what I can come up with when I get home from work, I'm sure N-I-D will do the same

RobH1974

The letter has been sent to Barclays and received by them (sent signed delivery) so I await their response.

Funnily enough (or not as the case may be) over the weekend I received a letter from Cap Quest Debt recovery chasing an alleged debt to Abbey in my name, the letter stated Abbey have written to me to confirm this (they hadn't) so I rang Capquest and found out this relates to an address I last lived at in 1995!! Some 14 years ago. Told Capquest I knew nothing of said debt to Abbey and that it was statute barred now anyway, they said they would take my details off the file (yeah sure)
However today I have received a Letter from Abbey stating they have transferred the £189.53 debt (relating to a Bank account/loan) to Capquest on the 3rd July 2009?
Is there some kind of conspiracy going on against me? In the space of 1 week I have discovered alleged debts from over 12-14 years ago suddenly appearing!!

never-in-doubt

RobH1974 wrote: »

The letter has been sent to Barclays and received by them (sent signed delivery) so I await their response.

Funnily enough (or not as the case may be) over the weekend I received a letter from Cap Quest Debt recovery chasing an alleged debt to Abbey in my name, the letter stated Abbey have written to me to confirm this (they hadn't) so I rang Capquest and found out this relates to an address I last lived at in 1995!! Some 14 years ago. Told Capquest I knew nothing of said debt to Abbey and that it was statute barred now anyway, they said they would take my details off the file (yeah sure)
However today I have received a Letter from Abbey stating they have transferred the £189.53 debt (relating to a Bank account/loan) to Capquest on the 3rd July 2009?
Is there some kind of conspiracy going on against me? In the space of 1 week I have discovered alleged debts from over 12-14 years ago suddenly appearing!!

Don't worry about it, try to stick to letters - NO PHONE CALLS - as then you have a paper audit trail. Just continue to send the standard letter, from page 1 here: Unenforceability & Template Letters II

Send any of the below letters subject to your needs....

1. Statute Barred Debt (England & Scotland)
2. Request for !!!!!! of Default
3. Prove it Letter

topman5499

Despite Martin's advocacy of stoozing, I would suggest that in the current climate (with historically low interest rates) that this is ill advised.

Credit cards = money that you haven't got!

I've had a great year debt wise thanks to this site: I've paid of my Lloyds graduate account (£2500) Barclays account (£250) an old mobile bill (£60) and my old Lloyds credit card (£1000) Just my RBS overdraft to go!!

Thanks MSE!

NickX

topman5499 wrote: »

Despite Martin's advocacy of stoozing, I would suggest that in the current climate (with historically low interest rates) that this is ill advised.

Credit cards = money that you haven't got!

I don't agree. As long as you are borrowing funds at a lower rate of interest than you are earning on your investment then I don't see anything wrong with stoozing. There are calculators to check that particular deals are profitable.

Also, if you go for slow-stoozing there are no Balance Transfer fees to factor in so you should always make a profit provided you invest the equivalent to your expenditure in an interest bearing account and do not break the Terms and Conditions of your borrowing.

cadamapc

hi dont know how to posta new threadbut hey ho i'll try on here instead... i have just checked my credit report with experian online... i have a few settled accounts now all paid off but it says they will stay there for six years... can't i get rid of them sooner.. i never paid them late or missed a payment?