CRA Advice needed

didaiva

Hi

First Direct have a number of entries on my credit file shown below, should I be looking at getting them all removed by the 24th March 2012 or just the default entry. All these debts were included in my IVA.

When I queried this with FD they told me that it will add to my credit score, is this right?

The way I see it is that the card balances, in orange, are shown as high, with no history only a green tick and a settlement marker.

Also if I'm right with this they are not due to come off until 31/03/2013 (the Account End date) instead of 24/03/2012 the default date. I can live with the current account entries until they drop off in April highlighted in green.

What should I do?

Provider: First Direct
Account Type: Consolidated Debt
Account Number: **********
Account Status: Satisfied
Date Updated: 31/03/2011
Account Start Date: 02/01/2005
Account End Date: 03/05/2011
Account Opening Balance: £286
Repayment Frequency: Monthly
Default Date: 24/03/2006
Default Satisfied Date: 03/05/2011


Provider: First Direct
Account Type: Credit Card
Account Number: ************
Account Status: Settled
Date Updated: 31/03/2007
Account Start Date: 15/08/2000
Account End Date: 31/03/2007
Account Opening Balance: £7953
Repayment Frequency: Monthly

First Direct
Account Type: Credit Card
Account Number: ************
Account Status: Settled
Date Updated: 31/03/2007
Account Start Date: 10/01/2005
Account End Date: 31/03/2007
Account Opening Balance: £15910
Repayment Frequency: Monthly

First Direct
Account Type: Budget Account
Account Number: **********
Account Status: Settled
Date Updated: 30/04/2006
Account Start Date: 31/12/1996
Account End Date: 05/04/2006
Account Opening Balance: £811
Regular Payment Amount: £826
Repayment Frequency: Monthly

Provider: First Direct
Account Type: Current Account
Account Number: **********
Account Status: Settled
Date Updated: 30/04/2006
Account Start Date: 02/01/1996
Account End Date: 03/04/2006
Account Opening Balance: £775
Repayment Frequency: Monthly

didaiva

What should I do?

Anondebtadvisor

Defaults will fall off your credit file automatically after 6yrs from the defaullt date you do not need to do anything.

They look like an accurate reflection to me?

fermi

didaiva wrote: »

Provider: First Direct
Account Type: Credit Card
Account Number: ************
Account Status: Settled
Date Updated: 31/03/2007
Account Start Date: 15/08/2000
Account End Date: 31/03/2007
Account Opening Balance: £7953
Repayment Frequency: Monthly

First Direct
Account Type: Credit Card
Account Number: ************
Account Status: Settled
Date Updated: 31/03/2007
Account Start Date: 10/01/2005
Account End Date: 31/03/2007
Account Opening Balance: £15910
Repayment Frequency: Monthly

If these were included in an IVA that started March 2006, then they may need sorting.

As there appears to be no default, then they will stay for a year longer than they should.

May not be a big issue if they truly aren't marked as defaulted, but if you did decide to leave them then I would double check to make sure if that status with the CRAs is definitely correct.

If you decide to get them corrected then they should be defaulted as per the IVA start date.

fermi

didaiva wrote: »

First Direct
Account Type: Budget Account
Account Number: **********
Account Status: Settled
Date Updated: 30/04/2006
Account Start Date: 31/12/1996
Account End Date: 05/04/2006
Account Opening Balance: £811
Regular Payment Amount: £826
Repayment Frequency: Monthly

Provider: First Direct
Account Type: Current Account
Account Number: **********
Account Status: Settled
Date Updated: 30/04/2006
Account Start Date: 02/01/1996
Account End Date: 03/04/2006
Account Opening Balance: £775
Repayment Frequency: Monthly

Similar with these, apart from the fact that they will be off your report by next month, so not worth messing about with.

Again, I would double check that status with the CRAs, this time to confirm they will be taken off next month.

Anondebtadvisor

Those entries are not having a negative affect as they have not been defaulted, there would be an issue if they were defaulted in 2007 instead of settled

Anondebtadvisor

oops posting at the same time, your quicker than me! lol

The orange entries i meant

didaiva

First Direct for some reason marked these accounts in green and orange as Settled, no default markers or default date.

They put a consolidated default entry on, the entry in black text, 3 months after the start of the IVA. Earlier this year I got that date backdated to the start date of my IVA on getting a completion certificate. I enquired with FD at the time about the other entries particularly the credit card ones and they said it would not affect my "score", whatever that really means as I believe it is meaningless, as they are not defaults and show as settled accounts. Adding to my credit score according to the adviser I spoke to.

There are no red marks on the credit card entries at all, the bit that I'd be a bit worried about is the high balance, followed by a settlement indicator the following month, as the IVA came to a end, with no reporting thorughout the whole period just at the end of the arrangement.

fermi

Anondebtadvisor wrote: »

Those entries are not having a negative affect as they have not been defaulted, there would be an issue if they were defaulted in 2007 instead of settled

Yes, which is why I said.

fermi wrote: »

May not be a big issue if they truly aren't marked as defaulted, but if you did decide to leave them then I would double check to make sure if that status with the CRAs is definitely correct.

Had some similar cases recently where the consumer generated report and data being seen by lenders didn't quite tally. Equifax have been particularly bad for that. In some cases just not holding a default date on the consumer report when they should have, and in others not showing a complete default entry. e.g. where the debt had n fact been sold on, so the original said settled but there was an extra default recorded by the buyer that the consumer wasn't seeing.

Could all be fine here, but a bit of double checking would be wise.

fermi

didaiva wrote: »

There are no red marks on the credit card entries at all, the bit that I'd be a bit worried about is the high balance, followed by a settlement indicator the following month, as the IVA came to a end, with no reporting thorughout the whole period just at the end of the agreement.

It's an opening balance, so should be OK. It's not listing a current outstanding one.

didaiva

fermi wrote: »

Had some similar cases recently where the consumer generated report and data being seen by lenders didn't quite tally. Equifax have been particularly bad for that. In some cases just not holding a default date on the consumer report when they should have, and in others not showing a complete default entry. e.g. where the debt had n fact been sold on, so the original said settled but there was an extra default recorded by the buyer that the consumer wasn't seeing.

Could all be fine here, but a bit of double checking would be wise.

I've checked on Experian and Call Credit as well as equifax and the same information is on there too, no default for the credit card entries with default markers for a consolidated entry on experian and up until recently call credit - who have now deleted the default a little early