Begbies Traynor search on my credit file

WLITC

Got my Equifax basic credit report and I just noticed that there is a search on there from this time last year (just days after I went BR) by a company called Begbies Traynor and the search reason is listed as debt collection. At first I had a mini panic that I must have almost been passed on to a debt collection agency, but on further searching it appears they are a company that they are an insolvency practitioner company (not entirely sure what that means) and having dug out some old posts, I found that JCS1 had responded to more than one thread on the subject that (hope he doesn't mind me quoting him) with a similar response ..

"Begbie's are also a IP company, they were probably checking your credit file to see if one of their regular clients are majority creditor - they would then get automatic appointment if you have sufficient assets to warrant appointment of an IP." actual thread

However, I'm not entirely sure what that statement means? Are their clients normal lenders like MBNA, Barclays, etc or is it more likely related to mortgage providers? I ask that because my credit report also lists details of the house I live at (I only rent, the house is owned by the landlord) including deed date, price paid, property type, etc. How come they have included my landlord property details? Could Begbie have been doing a search to establish if the house was mine? I just find it odd that I get to see how much my landlord paid for his house.

JCS1

No problem with quoting me, but she not he

OR usually deal with case where assets are less than £10k. If over this amount, they may decide to call a meeting of creditors with the aim of appointing an Insolvency Practitioner to be BR Trustee and deal with assets (if one creditor has 51% of the BR debt, then they will have the majority vote and can appoint an IP without voting)

WLITC

JCS1 wrote: »

No problem with quoting me, but she not he

Opps, my bad.

JCS1 wrote: »

OR usually deal with case where assets are less than £10k. If over this amount, they may decide to call a meeting of creditors with the aim of appointing an Insolvency Practitioner to be BR Trustee and deal with assets (if one creditor has 51% of the BR debt, then they will have the majority vote and can appoint an IP without voting)

Didn't realise that. My debts were over £10k, but I don't think any one of them accounted for 51% of my debt (on my caulation biggest creditor prob account for 40%) I never had anyone contact me and tell me I was being appointed a trustee. Would they normally tell you if that happens? In fact I never got an OR interview, just a letter saying they didn't need to interview me and only other contact in the entire 12 months was one email about a month after I went BR (they wanted a little more info on one or two things), to which I immediately responded and never heard back.

I suppose its all redundant now that I'm discharged.

JCS1

It's assets over £10k (rather than debts), and you would be told if an IP had been appointed.

An IP can be appointed in other circumstances too, but the assets is the most usual one.

SunshineBear

JCS1 wrote: »

No problem with quoting me, but she not he

OR usually deal with case where assets are less than £10k. If over this amount, they may decide to call a meeting of creditors with the aim of appointing an Insolvency Practitioner to be BR Trustee and deal with assets (if one creditor has 51% of the BR debt, then they will have the majority vote and can appoint an IP without voting)

welshladinthecity wrote: »

Opps, my bad.


Didn't realise that. My debts were over £10k, but I don't think any one of them accounted for 51% of my debt (on my caulation biggest creditor prob account for 40%) I never had anyone contact me and tell me I was being appointed a trustee. Would they normally tell you if that happens? In fact I never got an OR interview, just a letter saying they didn't need to interview me and only other contact in the entire 12 months was one email about a month after I went BR (they wanted a little more info on one or two things), to which I immediately responded and never heard back.

I suppose its all redundant now that I'm discharged.

Assets not debt.

SunshineBear

JCS1 got there first. :j

alastairq

hi, SunshineBear, you seem to be cheering up after your initial forum contact?

Nice to see you contributing..

SunshineBear

Yep, I'll deal with whatever comes my way to the best of my ability. I know it's a long road but each day I wake up I have another go at life. Everyone on here is welcoming and I feel that along with this site, humour, food and excersise will keep me sane. Thanks for your help and input.

I guess I will become an expert and hopefully help others along the way.

Life is an education after all.

WLITC

SunshineBear wrote: »

Assets not debt.

Opps, I'm clearly half a sleep tonight. Well thats odd then as I had absolutely no assets, unless they counted the car I sold about 6 months prior to BR for less than £500 (which I noted on my forms).

Ineedaname

welshladinthecity wrote: »

I ask that because my credit report also lists details of the house I live at (I only rent, the house is owned by the landlord) including deed date, price paid, property type, etc. How come they have included my landlord property details? Could Begbie have been doing a search to establish if the house was mine? I just find it odd that I get to see how much my landlord paid for his house.

I don't think there should be any details about a rental property on your credit file. You could try writing to Equifax explaining that you rent and have no financial connection with your landlord other than to pay the rent every month. Then ask if they can remove the detailed property information from your file.

I've certainly never seen info like that on my credit file about any of my rental properties.

WLITC

Ineedaname wrote: »

I don't think there should be any details about a rental property on your credit file. You could try writing to Equifax explaining that you rent and have no financial connection with your landlord other than to pay the rent every month. Then ask if they can remove the detailed property information from your file.

I've certainly never seen info like that on my credit file about any of my rental properties.

So I wonder why its there? Any thoughts on how it might have gotten included? I'm going to be doing a credit file clean up in about 2 months so I might just leave it until then. If there is something wrong, i.e details of the landlord property do I just write and ask them to remove it. I'm sure when she was trying to sign me up for the 30 day free trial she said if there was anything wrong and I needed it correcting then I'd need to pay another £2 .. unless she was refering to getting an updated credit file down the line to confirm the error had been removed?