Credit Report question

happyhatter

Hi all,

Just checked my Experian Credit report and have found that I have two defaults for the same debt.

O2 communications and Lowell Financial Ltd have both reported the same debt as defaulted (85 sterling). AND both now reporting as satisfied (paid a few months ago).

Can i challenge to have one of the defaults removed as they are both identical for the same amount or is it just a case of wait until the default is removed?

Thanks in advance

fermi

happyhatter wrote: »

Can i challenge to have one of the defaults removed as they are both identical for the same amount

Yep. There should only be one default registered for it.

Normally, Lowell and O2 should have agreed who was to continue to update information on your credit file with regards to this debt.

So either......

(1) If they agreed that Lowells would stake over responsibility, then the O2 entry should have either been:

- Changed from reading as O2 to Lowells.
- Or the O2 one should be taken off, to be replaced by one from Lowells.

Either way, the end result should be the same. One default for the debt in Lowells name. Plus, when transferring the default over the original "default date" shouldn't be changed,

(2) If O2 kept the responsibility for the record, then Lowells cannot place a new default. And O2 must update the entry when paid.

Option (1) is the most common.

So either:

a) O2 have messed up and not removed their default entry as they should.
b) The credit reference agency has made an error by leaving both there.
c) Lowells have registered the new default when they shouldn't have.

It's hard to say with any certainly which of those is most likely.

However, I would probably start with disputing the fact that there are 2 entries for the same debt with the credit reference agency. They should then mark the entries as disputed, and contact the parties involved to query the correctness of the data.

In tandom, I would probably also contact O2 direct to dispute the fact that they have left their entry on.

Maybe you will end up having to dispute things with Lowell? However, they are awkward barstewards, so I would probably leave them till last. If you can get the O2 entry off with relative ease, then that would be the least hassle.

fermi

Info here on how to complain.

http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/credit_explained_leaflet_2005.pdf

Read from page 19 onwards: The section called "I have my credit reference file but some of the information is wrong. What can I do?"

fermi

This is the guidance to creditors that the Information Commisioner requires they adhere to.

From: Technical Guidance Note - Filing defaults with credit reference agencies

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.

happyhatter

Fermi,

Absolute brilliant reply(ies). Many thanks for being so thorough and taking the time to reply.

Have a great day and I am on the case to resolve!

Kind regards

Experian_company_representative

Please contact us and query the duplication. I'm sure we will be able to resolve this for you very quickly. There should certainly be just one entry.

James Jones

happyhatter

Hi James,

I will do and thank you for your reply.

happyhatter

Just a quick follow on to advise that my issue was sorted out very promptly by Experian. As per the advice I was given by Fermi and the Experian rep above I contacted the agency via the website. I was sent two emails and within 10 days my report was corrected as it should be. Thank you again