Advice about credit report please?

Candy53

Hi,

I previously posted about my £2 credit report not having my bankruptcy on it, or any mention of my past debts.

After seeking out my report, which I sent for last year, (I went bankrupt in 07), I found it did have my bankruptcy down, plus my date of discharge, and underneath I had 1 CCJ that was before the bankruptcy. Will that be on there for 6 years too?

But, I was right about my debts. None of them were there. No creditors, nothing.

I did fill the form in properly, so how can I clean up my file when my old debts arn't there?

I'm going to send for another one but they're probably not going to be on that one either.

Thanks,
Candy

Ineedaname

Firstly, did you get your reports from all three agencies? It may just be that by the luck of the draw none of your creditors used the agency you've got the report for so far.

The CCJ I believe will sit for 6 years from the default date. If that date is pre BR date then the BR will be the last thing to drop off your records, the CCJ having dropped off before. Hopefully someone else can confirm this.

Tixy

CCJ will go 6years from the judgement date.

Did you default on your debts a while befor bankrupty? its possible the debts have gone because all the defaults were more than 6years ago? (an account stops appearing 6years after the original default date).

Candy53

I remember paying small amounts before the bankruptcy, but you could be right, as I think it was a while before.

If I ask Experian, will they know this?

Candy

Tixy

I don't think the CRAs will tell you about any information that has dropped off your file due to time limits.
If they don't appear on any of your 3 credit files then you don't need to do a clear up as clearly nothing is dated after your bankruptcy date.

Candy53

Thanks 'Tixy' for that.

And thanks 'Ineedaname'. I didn't think about checking all of them. I'm not very clued up I'm afraid.

Candy:)

Experian_company_representative

All these sorts of records usually drop off your credit report after six years. As a result, all the debts that led to the bankruptcy should have gone by the time your bankruptcy expires. If any did post-date the bankruptcy you would need to query this, because that should not happen.

James Jones

Candy53

Sorry, but don't understand. So any debts that were part of my bankruptcy shouldn't have come off untill the 6 years are up?

But how come people are cleaning up their credit files soon after going bankrupt, and getting some debts taken off?

What do you mean by 'post date'? That my debts have come off too early?

Could you explain please?

Thanks
Candy

Ineedaname

Debts with a defaulted date pre-BR date will drop off before your BR does, as the 6 years will be up prior to the BR dropping off.

So:

Credit card default date 01/08/2005
BR date 31/08/2005

Credit card would no longer show on your credit report but BR will until after the 31st.

Sometimes creditors show a default date which is post-BR date:

BR 01/08/2005
Credit card 31/08/2005

In this instance your BR would drop off first and the card later. This is what clean up is about, trying to get all debts included in the BR to show a date either the same as BR or earlier. This ensures that once BR drops off the records then everything else does at the same time or earlier.

Debts cannot be 'taken off' the report if they are valid and within the 6 years. Some people do have old debts with much earlier default or settled dates. Those obviously drop off at their 6 year mark. I think some people find old debts which aren't marked appropriately and manage to have them changed to show when they were settled (say a catalogue amount that was paid off several years prior to BR but still showing 'live' on the records). Again, these would drop off 6 years after their settled date which could be much earlier than BR.

Hope that's not too much gobble and makes sense.

dojoman

Candy53 wrote: »

Sorry, but don't understand. So any debts that were part of my bankruptcy shouldn't have come off untill the 6 years are up?

But how come people are cleaning up their credit files soon after going bankrupt, and getting some debts taken off?

What do you mean by 'post date'? That my debts have come off too early?

Could you explain please?

Thanks
Candy

When people "clean up" their files it does not mean that any debts are removed from them. All it does is ensure the info in your files is correct and up to date. I have just cleaned mine up, all my files are now marked as settled or satisfied, where the default date was later than my BR date, I contacted those creditors and told them to correct these details, thankfully they have all now done this. But all of my debts are still on my files, and will be until 6 years after my BR date, a couple of them will actually fall off just before my 6th year anniversary of my BR.

Candy53

Thanks to the both of you.

My understanding is alot clearer now. (Takes a while. :-S). So, I'll send for all 3 reports, and if none of the old debts are on any of them, they could have dropped off, but I'll enquire, and confirm this is the case, to make sure there's no other reason they're not there.

Thanks,
Candy