FLM Refuse to update file

themolsshow

Hi all,

I am discharged July 2011 none of my files show settled or anything not even defaults! And 1 of them that is the worst is FLM they removed my name from the loan when i went bankrupt and updated my file to say closed now im discharged they have put it back on to say missed payments! can they do this ? And should all the files post bankruptcy be closed now ? Even though im paying money for 3 years towards my bankrupcty? Here is a copy of the email from FLM !

Thanks!

Hi ,

As stated previously, as the loan account is still active it would not be marked as "settled" or "satisfied" on your credit file. If you had other debts prior to your insolvency and they are now listed as such this would likely be as they have indeed been settled from the proceeds of your bankruptcy. The FLM Loan was a Guarantor loan and as such is still active under the Terms & Conditions, therefore it has not been settled under the terms of your insolvency akin to your other debts.

If you have any further questions regarding this you will need to speak to the agents who handled your Bankruptcy arrangement, as we have done everything we can do in relation to notifying credit reference agencies regarding the status of this loan.

Yours Sincerely,




Hi James,

I understand you are concerned with regards to your FLM Loan account, reference , still showing on your credit file despite your Sequestration.

While you are no longer responsible for making repayments directly towards the account due to your insolvency, the account is still an active account as your Guarantor, , is now responsible for repaying the debt in full. As it is still an active account it will continue to show on your credit file - entering Sequestration unfortunately does not make any debt "disappear" from your records.

We have done all we can in regards to confirming the current status of the account with credit reference agencies. Any further issues you may have will need to be resolved directly with the agents handling your Sequestration.

Yours Sincerely,

fermi

Please edit out the personal names of staff, yourself and your guarantor from that post. Thanks.

themolsshow

Great! Means i am going to be stuck with them adding it on my file as missed payments! What about all my other accounts should they now be closed/settled? I called Blackhorse who i owed £9,000 to and they said no it should be shown as settled ? Does the fact im paying a contribution for the next 2 years now be the reason none of them are shown as settled?

thanks for your help

themolsshow

I dont want to waste money sending my discharge cert if i cant get these changed to settled before the next 2 years

tigerfeet2006

Everything should be shown as settled or partially settled as from your Sequestration date. If they are nott then you need to get on to them.

Ineedaname

Surely if it's now the Guarantor who owes the money then the record should show active on their credit report but settled on yours.

Anyone comment?

crazyguy

I think you will struggle here as FLM will in the most likely event have this water tight legaly, you need to remember there business model is lending to lets say the lower end of the market so any possible get out clause will be near on impossible.

themolsshow

Ineedaname wrote: »

Surely if it's now the Guarantor who owes the money then the record should show active on their credit report but settled on yours.

Anyone comment?

This is what i have said to them if my name is now off the loan and i aint liable for payments why should i be getting marks against me on my file? And why did they have it as closed settled for a year then change it again! I dont think its right!

crazyguy

themolsshow wrote: »

This is what i have said to them if my name is now off the loan and i aint liable for payments why should i be getting marks against me on my file? And why did they have it as closed settled for a year then change it again! I dont think its right!

Just sent you a pm,

themolsshow

Cheers for that i have now sent it see what happens !

Ineedaname

I'm intrigued now...