incorrect information on credit file

DizzyChick

Hi,

I am wanting to improve my credit file and recently signed up to experian

i had a debt with welcome finance who i am and have been paying through global debt recovery! however my debt is only approx £4,000 my original loan was only £2,000
but my credit file is stating i owe over £10,000 i have sent welcome emails and my credit file was updated to show the correct balance but every month it reverts back to the incorrect figure.

i then phoned welcome to make a complaint who tried to pass the blame to experian but as i pointed out they can only produce the information they receive.

when i called to cancel expierian as to be honest it was really annoying that i am paying £14.99 a month to wind myself up they explained that they could contact them on my behalf which i had to allow 7 - 10 days
this time has now passed and still nothing has been done!

is there anything else i can do as i still have 4 years until it is removed from my file!

The other one is lowell i have cleared my balance with them and have this in writing but also after 4 months it is still showing i have a balance! again i have complained to them but still nothing!

aimingforadebtfreelife

From my experience with Experian they will contact them for you but can take an average of 2 weeks. Regards the Welcome loan it appears they correct the figures but each month they report it to Experian the system reverts back. It is a classical error by debt collection agencies. I had similiar thing recently and this is where I broke the general rule of dealings with DCAs and phoned them.... I will only phone them if they are in the wrong and there was nothing they could pin on me. I asked to speak to the Data Compliance Manager. The financial watchdogs force these companies to have one dedicated member of staff who oversee the credit reference reporting.... hey presto it was fixed that afternoon as this is the person who knows the consequences if it goes any further.

With regards Lowell again phone them and speak to the Data Compliance Manager. Say that its affecting your ability to get credit and if not resolved quickly who will pursue through the Information Commissoners Office (who oversee the data is correct).

Good luck

DizzyChick

yay got an email today and checked my credit file - i now have a correct balance