Ex- Credit Analyst - Throw your Credit & Underwriting Q's at me.

Mike_St_Helens

sharman24 wrote:

hi just a small question, i have MBNA and A &L credit cards, all have now been suspended since i asked for my data details, nothing more just the details, MBNA have replyed with 'take this £100 pounds or we close accounts?
please tell me, does this mean i have had a mark set against me at the credit ref agencies?
if so , is this allowed, if fact one of the accounts is in credit, so how do i get my money out?, all others have no more than £200 credits on them, all up to date

regards

Hi there, why have they offered you money to suspend/close your accounts, I dont get you ... The only time we would close and account and give money is if we simply no longer wanted them as they were a pain in the behind....

If you have been suspended due to missed payments, oK... or even if you have a heck of a lot of credit elseswhere, have bad credit on your file or have tried to claim fees back... i guess they are other reasons they would suspend.

If you are in credit though, simply call them and they will let you have it back.

Mike_St_Helens

starkiller wrote:

Hi Mike

My sister applied to have her overdraft extended in the short term until OH finds work. She only wanted an extension of £200. She was turned down due to something on her credit file...can't remember what she said. Anyhow she got credit file from both Experian & Equifax today and she has all my details on her file. We are twins but haven't live in the same property for approx 5 years.

Anyway I have applied for mine today and await their arrival.

A few questions really:
1. How the hell does my credit details get put on her file?? Luckily we are close but I am mightily p***ed off that she knows my financial circumstances and more than likely vice versa. What can we do about this??

2. Could this be the reason why she has been turned down?? Because of my financial activities?? In the last 3 months I have got a mortgage and closed a number of credit card accounts. I will be well annoyed if she could have been turned down cos of some link to me.

3. Is there any come back in terms of Data Protection in terms of Experian & Equifax?? What IF we had had a big bust up, she would have found out what I owe to who, and where I live, etc. I find that most disturbing.

Any how, I will sign off now. Don't post regularly on these boards but hope you had a good weekend away, having just come back from a few days in the lakes is nice to feel relaxed, refreshed if not a bit tired cos of too much drinking. :beer: :beer:
Toodle Pip
Starkiller :rolleyes:

Hi there... OK

1 - You can be associated simply by the same name in the same household. You can get rid of this by calling the cred ref agencies and letting them know exactly what you have put here... they will then tell you what to do.

2 - It should not have been due to your file, it is illegal now to do so if in fact there is no joint association, ask her to appeal.

3 - The law changed last year to prevent things like this, it is a massive issue, but the Cred ref agencies will easily allow you to be disassociated as long as you can prove to them that you are not financially linked./

Hope that helps, if you want anything else or more indepth to them, just post back.

Mike

Mike_St_Helens

maka wrote:

Hi mike myself and my partner bought are first house a couple of months ago and we thought we should be ok to apply for a decent cc as the one we have at the mo is the cap one 29.9apr. but when we applied we were turned down or should i say i was turned down but there seems to be no reason for it i have checked my credit files them seem fine so i dont understand it.
I was under the impression when you own your own house they tend to throw money at you.

Sorry we have bought the house 3 months ago now and all payments made on time to the mortgage company.

Thanks in advance

maka

Hi Maka.

This could be exactly the reason, new home, no Voters Roll, new credit with the mortgage .. thats if they are a lender that reports... not all do.

Also you will have had a few credit searches for utilities, sky/cable etc etc....

Give it 6+months and you should be ok. Or try a non judgemental lender.. Like MBNA or someone...

Mike

boom123_2

Mike_St_Helens wrote:

Hi there.. Have you had this sorted or do you still need an answer... hope its all worked out OK.....

Went on Monday with proof of debt repayments and a covering letter explaining the debts occurred 5years ago. I stated that catalogue debt was unknown to me and i was investigating. The credit department will look at again and i should know by the end of the week. The most annoying thing is that the debt I have a default for (to a bank) will be removed on the 26th of October however my future employer now knows that i still owe £930. This debt is with a debt company will i still need to keep repaying it after the default has been removed?

Also the bank have said that they will keep my application etc and interview results for 2months so if i don't manage to get the bank account at the moment if i get my credit sorted they would look at me again.

Should i now contact the catalogue I owe £1232 to (defaulted) and try to start repaying it? I want to query the amount would they still have details on their system after 4.5 years or would I simply get passed to a debt agency? This is due to be removed form my credit file in 1.5 years and I'm scared of opening a can of worms so to speak!

Sorry to put so many varied questions to you! My head is all over the place at the moment trying to work out the best way forward with this, any help or advice would be much appriciated

Mike_St_Helens

boom123 wrote:

Went on Monday with proof of debt repayments and a covering letter explaining the debts occurred 5years ago. I stated that catalogue debt was unknown to me and i was investigating. The credit department will look at again and i should know by the end of the week. The most annoying thing is that the debt I have a default for (to a bank) will be removed on the 26th of October however my future employer now knows that i still owe £930. This debt is with a debt company will i still need to keep repaying it after the default has been removed?

Also the bank have said that they will keep my application etc and interview results for 2months so if i don't manage to get the bank account at the moment if i get my credit sorted they would look at me again.

Should i now contact the catalogue I owe £1232 to (defaulted) and try to start repaying it? I want to query the amount would they still have details on their system after 4.5 years or would I simply get passed to a debt agency? This is due to be removed form my credit file in 1.5 years and I'm scared of opening a can of worms so to speak!

Sorry to put so many varied questions to you! My head is all over the place at the moment trying to work out the best way forward with this, any help or advice would be much appriciated

Hiya, It sounds promising if they are looking at your details again, have you also got good credit on your file ie : mortgage, credit card, loan etc ?

The default that drops off in Oct will indeed do that, even though you may still be paying, the info on the file will be removed.

The other catalogue debt, your shout really... Obviously your new employer know about it and if the catalogue cant be bothered to get in touch after 4.5 years then thats their own fault... Infact... Dod you know there is a large loop hole in Cataloguedebt... May sound imorral... but in most cases you have not actually signes a credit agreement so the debt can become unenforcable... However you would only find this out by contacting them, and as you say you dont really want to open up a can of worms.

At least they have agreed to look again in 2 months, are you working at the moment ? I know a lot of banks ask for you to have current accs with them if you work for them, its wrong really.

Mike

bluezone

Mike_St_Helens wrote:

Hi Bluezone !

Are you hogging my limelight !! :rotfl:

Would I ever hog your limelight?

Brown_suga

Hi Mike,

I managed to get my file

I have 3 defaults at status !!8}
1 default showing 000021001000
all have been satisfied

then i have 4 accounts which are all green

Is it really bad??????

boom123_2

Mike_St_Helens wrote:

Hiya, It sounds promising if they are looking at your details again, have you also got good credit on your file ie : mortgage, credit card, loan etc ?

The default that drops off in Oct will indeed do that, even though you may still be paying, the info on the file will be removed.

The other catalogue debt, your shout really... Obviously your new employer know about it and if the catalogue cant be bothered to get in touch after 4.5 years then thats their own fault... Infact... Dod you know there is a large loop hole in Cataloguedebt... May sound imorral... but in most cases you have not actually signes a credit agreement so the debt can become unenforcable... However you would only find this out by contacting them, and as you say you dont really want to open up a can of worms.

At least they have agreed to look again in 2 months, are you working at the moment ? I know a lot of banks ask for you to have current accs with them if you work for them, its wrong really.

Mike

Hi again Mike! Bank got in contact today and said they will employ me as long a s I can prove satisfaction from all defaults. You know the default from my old bank will be removed in October but i still owe £930 (so do my hopefully new employer. I hope this will no longer pose a problem as it won't show on my credit report.

Regarding the catalogue debt i find your reply interesting, I was going to contact them and ask them how i came about oweing them £1232? Should I ask them to prove I bought goods to this amount (which I know I did n't) or how should i approach the situation. If I can get a letter of satisfaction stating that I have repaid the debt i will be given the job. Do you think I should offer £400 to write it off as I believe this was all I originally owed, however if interest was added and then a debt agency got involved then it has obviousley escalated. i have now noticed a GAIN notice on my account from Wescott CA on the same date as the default was made from the catalogue noting that i had moved without notifiying lender. Do you have any advice as to how I approach this?

I was made redundant 2months ago hence me really needing this job. I do not have any credit cards, mortgage or credit running at the moment appart from those mentioned already.

Mike_St_Helens

Brown_suga wrote:

Hi Mike,

I managed to get my file

I have 3 defaults at status !!8}
1 default showing 000021001000
all have been satisfied

then i have 4 accounts which are all green

Is it really bad??????

What is the date on the defaults ?

Mike

Mike_St_Helens

boom123 wrote:

Hi again Mike! Bank got in contact today and said they will employ me as long a s I can prove satisfaction from all defaults. You know the default from my old bank will be removed in October but i still owe £930 (so do my hopefully new employer. I hope this will no longer pose a problem as it won't show on my credit report.

Regarding the catalogue debt i find your reply interesting, I was going to contact them and ask them how i came about oweing them £1232? Should I ask them to prove I bought goods to this amount (which I know I did n't) or how should i approach the situation. If I can get a letter of satisfaction stating that I have repaid the debt i will be given the job. Do you think I should offer £400 to write it off as I believe this was all I originally owed, however if interest was added and then a debt agency got involved then it has obviousley escalated. i have now noticed a GAIN notice on my account from Wescott CA on the same date as the default was made from the catalogue noting that i had moved without notifiying lender. Do you have any advice as to how I approach this?

I was made redundant 2months ago hence me really needing this job. I do not have any credit cards, mortgage or credit running at the moment appart from those mentioned already.

Bloody fingers crossed eh... sounds promising.

A GAIN, is called a 'gone away' not v good, but if its connected to the default, any lender can link them together. Its easy done... Not to say I left my Pub and didnt tell the bast part of 15 lenders.. relied on redirection... head in the sand and all that. They soon catch up.

mike