to whom do I report inaccurate CRA reporting? (Lloyds TSB, I'm looking at you...)

greenmantle

I'm asking this question here because I get the impression everyone here is up to speed on CRA reporting niggles. Apologies if this isn't strictly the right area!

I'm onto the second rung of Trying To Deal with this, so I'm asking for a little bit of help, while also advertising the fact that Lloyds TSB, as far as I can tell, are being a bit institutionally dim about CRA reporting.

I had a second current account with Lloyds TSB (linked with a graduate loan that I paid off a while ago) from '99 until summer 2009. They started reporting on the current account to the Credit Reference agencies *only* from February 2009, when I requested a small temporary overdraft.

The balance, eventually, was zero, and I requested that the account be closed, having become a bit jaded with their service, and wanting to streamline.

They closed the account.

They continued reporting to the CRAs. They're still reporting. I monitored all three CRAs for a while, in the run-up to applying for a mortgage. Now I keep tabs on Experian just while all my data gets sorted out. I've been trying to sort out this Lloyds TSB 'loose end' for some months.

I changed addresses twice in the last year, so the Lloyds TSB account is being reported as registered at my last-but-one address. Luckily the mortgage-provider didn't take it seriously as a problem.

I phoned Lloyds TSB. They wouldn't talk to me about it over the phone, as I'm no longer a customer. They recommended that I take all my papers in to a branch to sort out. I'm busy, and they've closed the branch closest to my workplace, so this isn't really an option. So I wrote a letter to the address listed by the CRA, the bank's data services people in Chelmsford. I said:

'Please stop reporting on my closed account, as though I still have one open and at an old address, it's screwing up my credit record.'

Very kindly, with mindblowing stupidity, they replied:

'I can confirm that the above account was closed on 24th June 2009'.

I KNOW.

What kind of effective stick can I threaten to hit them with in the reply please?

Many thanks for any help!

dazza.mk

You can raise a query with the credit reference agencies and they'll contact Lloyds to resolve the query (may take a while)

KingElvis

Try God, he's quite powerful and will throw lighning bolts at the pencil pushers at LTSB

greenmantle

thanks dazza, I did a search for 'raise query' on Experian and tracked down the link, which is pretty elusive. I've now submitted a query and we'll see if anything happens...

KingElvis. thanks. Now searching 'God' for 'lightning bolt' option. Am sure this will deffo back up the Experian action...

jadebee

I'm so glad someone else except me is aware of how incompetent Lloyds are when you close an account, I am still getting calls about an account that was closed over 7months ago. Idiots idiots idiots.

I owe them nothing, I closed the account, Yet I'm still in constant contact with them. Lightning, God, ANYONE?

dazza.mk

jadebee wrote: »

I'm so glad someone else except me is aware of how incompetent Lloyds are when you close an account, I am still getting calls about an account that was closed over 7months ago. Idiots idiots idiots.

I owe them nothing, I closed the account, Yet I'm still in constant contact with them. Lightning, God, ANYONE?

There always seems to be hassles, with me its ASDA, based on recent feedback I've cancelled my Direct Debit & switched to paper statements and will pay manually for a couple of months (as my last DD payment went out on the 'old format' DD, which seems to have since been deleted)

greenmantle

oh man, yes. It's probably only because I've moved so much that I'm not getting all the 'please take our loan/credit card/other' junkmail that is probably flooding out.

I still get a pointless Lloyds TSB 'international' magazine sent to my work address after a traumatic phase of trying to set up a foreign currency account for a spell abroad. Best left alone, that particular department of the bank... They didn't like... people...

This kind of thing operates as effective aversion therapy for ever more. Much like a ten-month period of trying to interact with Natwest, aeons ago as a 17-year-old new customer, when they failed to give me their account opening perk, or, indeed, any attention at all. Natwest, Lloyds TSB? You're both on my list...

the_insider

What are they actually reporting? If it shows that you had an overdraft and you've paid it off then they are right to do it and it will actually be strengthening your credit score.

pqrdef

My credit report's got loads of closed accounts on it. At some point they get shown as "settled", but they don't go away for 6 years. They show under the last address used while they were active.

You can't ask for your history to be deleted as if it never happened. Reports are designed to show history - good or bad - as well as current status.

greenmantle

What are they actually reporting? If it shows that you had an overdraft and you've paid it off then they are right to do it and it will actually be strengthening your credit score.

Okay, some clarification here. I have a bajillion 'settled' accounts on my credit report. I'm perfectly happy with them, as they're reported accurately. In fact, one of my two paid-off loans was with Lloyds TSB - they all look fine and reflect actual activity perfectly well. BUT.

My Lloyds TSB current account was closed in 2009. It is not yet marked as settled and continues to be reported as if it were active and being used, and at an out of date address. You see my problem? It is:

a) inaccurate.
and
b) introduces a discrepancy (the old address) in my current credit history.

It is definitely not active or open, as the one clarification I've been able to extract from Lloyds TSB is that they're perfectly clear that the account is closed, done and dusted, and perfectly healthily so.

However, it seems impossible to explain to them that they're reporting to the CRAs inaccurately. They seem to have a problem with their CRA reporting procedure and their (lack of) control of my financial data.

Hope that makes things clearer!!

YorkshireBoy

You make a formal complaint*.

You cite the relevant DPA principles you believe they are contravening (google them).

You cite the distress and inconvenience** you are enduring/have endured over a period of time to try and bring the matter to a close.

You let them know you intend to go to the FOS and the ICO if your complaint is not dealt with inside their 8 week complaints procedure timescale.


* Be clear and concise about:

1. What the situation is now.
2. What you'd like done about it.
3. The level of compensation/goodwill expected.

** This will let their complaints team know you're familiar with the workings of the FOS and how it makes awards.

If you'd raised a formal complaint back in 2009 we wouldn't be having this conversation now. Bear that in mind next time you have an 'issue' with a financial institution.