Credit File Clean-up post Bankruptcy - Mini rant!

Tigger1983

I started my cleanup in January (BR 12/09 DC 09/12), and for the most part lenders have complied and it now looks a lot better. However, I have one question then a bit of moaning to get off my chest!!

T-mobile had a default of £85 on all three reports. This has now been removed, but since then, despite knowing I was BR AND accepting and replying to my clean up letter, they have now sold the debt on to Capquest. Basically they have knowingly sold a debt that doesn't exist! Now I have no sympathy for companies such as Capquest, but surely that is at the very least dishonest, and basically fraud?! Is there anything I can do about this?

There are only two companies who have ignored my request - Capquest (so now I have two entries with this unscrupulous bunch to deal with) and HSBC. MBNA are still showing up on Equfax but not on the others (they are the ones who have sold the debt on to capquest so the same debt is showing twice under two different lenders!!)

And my other rant. It is my credit file, and affects almost everything I try to do in life (I almost lost my job when new security measures came in that required a credit check, my car insurance is sky high and most won't even cover me, and I can't get a phone contract that I could really do with for work!) Why the hell should I have to pay for this information?? Also, the only one that is actually readable is the Equifax one (credit to them it is extremely clear and easy to use the internet report - however beware, I clicked to get my stat report for £2 and ended up accidentally signing up to the monthly subscription at £15!!). For CallCredit I had to trawl through 12 pages of rubbish to find 4 pieces of info!

And lastly, Equifax and CallCredit gave me instant access online to my statutary reports, but the biggest and supposed best of the bunch equifax say they will confirm my request within 24 hours and I can have my report with 4 days!! Useless.

Now I have to start a whole new round of letters and recorded deliveries (on top of the cash I spent on the first round of letters and files) which I shouldn't have had to do in the first place - they were all informed of my bankruptcy the day it happened and were provided with a copy of my bankruptcy order and subsequent discharge notice by recorded delivery but nothing was every updated.

The laws and regs really need to change around these credit files, obviously from the fact that I couldn't manage my debts and then filed for bankruptcy, I'm not well off and cannot afford all these reports and recorded deliveries! The total last time was more than the amount I budget to feed myself and my partner for over a week! It won't be far off this time due to Equifax conning me into a monthly sub. grrrrrr.

If anyone has any advice re T-mobile selling the debt to Capquest once they were aware of my BR I'd be very grateful.

Hope everyones having a lovely bank holiday weekend. xxx

debtinfo

They did not sell a debt that does not exist, the debt very much still does exist, and they have a right to sell it on (remember it is a debt to you but an asset to them). you remain not liable for it though and any person who buys the debt is responsible for complying with all the regulations regarding credit rating as the original company

Tigger1983

So even though they are so aware that I have been made bankrupt they have marked their own entry in my file as satisfied (following my first round of cleanup letters) it is still accceptable that they have sold a debt on to a company that they know the company will not be able to collect, and that I now have to send another round of recorded delivery letters and will have to purchase another set of credit reports in a months time? T-mobile even replied to my cleanup letter confirming that they had received it and were updating their entries on m files - according to capquest they obtained the debt 12 days after m recorded delivery letter was received.

Perhaps I didn't use the right wording - I know the debts still exist as such and believe me the shame and stress of bankruptcy will probably haunt me my whole life. People say this a lot, and often I know it's not true but without going into the very private details of what led me to bankruptcy, it's not entirely my fault. Up until three months prior to going BR I had kept up with all my repayments and my credit rating was excellent. Sorry for the over info, but I felt a little "judged" by what was posted.

fermi

As said, there is nothing to stop debts covered by bankruptcies being sold on.

In fact, a few specialised debt buyers focus on these debts, gambling that by paying very little then any payout from the BR estates will result in a net profit.

Capquest are not one of those however, so the debt has been sold on to them as a live one that they would expect to be able to recover.

As such, it's inclusion in a BR may breach the terms of any sale agreement between T-mobile and Capquest. If not that, then T-moble may have failed in any duty to make sure up to date and accurate info on the status of accounts is passed to Capquest.

Usually these debts are sold on in massive "job lots", and debts covered by a BR frequently slip in with them. Whether that is deliberate or just incompetence on the part of the seller is debatable.

As such, it might be worth a complaint to T-mobile. In the past the original creditor has in some cases agreed to take/buy the debt back. Resulting in the DCA records being removed.

Perhaps more likely would simply be:

(a) the removal of the Capquest entry and them writing the debt off.

or

(b) removal of the T-mobile entry, correction of the Capquest one, and them again writing the debt off.

(b) is possibly the more likely result, but it makes little/no difference as long as you end up with one correct and settled entry.

fermi

Tigger1983 wrote: »

There are only two companies who have ignored my request - Capquest (so now I have two entries with this unscrupulous bunch to deal with) and HSBC.

HSBC will usually ignore you at first.

Perhaps send as a reminder something along the lines of this link.

http://forums.moneysavingexpert.com/showpost.php?p=39462914&postcount=466

If it was me, then I would send by recorded delivery. AND as an extra measure, I would also send a copy via email to as many customer service/complaints/compliance email addresses you can find for HSBC, plus the email for their CEO etc...

Basically give them a kick up the backside from multiple directions all at once.

Tigger1983

Thanks Fermi - I shall get on to that today! I've done a second round of letters this morning marked COMPLAINT, along the lines of the link you gave to the ones who have failed to clean up. I'll pass this on to as many email addresses as I can find

debtinfo

Tigger1983 wrote: »

So even though they are so aware that I have been made bankrupt they have marked their own entry in my file as satisfied (following my first round of cleanup letters) it is still accceptable that they have sold a debt on to a company that they know the company will not be able to collect, and that I now have to send another round of recorded delivery letters and will have to purchase another set of credit reports in a months time? T-mobile even replied to my cleanup letter confirming that they had received it and were updating their entries on m files - according to capquest they obtained the debt 12 days after m recorded delivery letter was received.

Perhaps I didn't use the right wording - I know the debts still exist as such and believe me the shame and stress of bankruptcy will probably haunt me my whole life. People say this a lot, and often I know it's not true but without going into the very private details of what led me to bankruptcy, it's not entirely my fault. Up until three months prior to going BR I had kept up with all my repayments and my credit rating was excellent. Sorry for the over info, but I felt a little "judged" by what was posted.

remember that when it says satisfied all it means is that your liability to pay is satisfied not that the debt itself is, and i said above the new company should comply with all the regulations just like the original should, the complaint you have is not about the debt being sold on but about capquest not complying with the credit rating regulations