HSBC Loan Credit File Update

ryantcarter

Hi Guys,

Second thread here, first one got answered really quickly and eased my mind.

Now for the second one.

I got a HSBC loan in November last year for 2k as I needed a new car (need vs. want, I needed. Beyond economical repair, wasn't getting me to work etc.)

So anyway, I'd paid about 4 instalments on the loan when the house of my dreams came up, at this time I also had CC debt of around 1,400 which I'd just balance hopped onto a new card.

I applied for a mortgage with my partner (both of us FTB) and had it refused as she owns her own business which had been established less than 2 years.

So I decided I'd clear my debt and apply on my own - She's still coming with, just not on paper.

I paid the CC off and the loan around the 1st week of April and closed both CC accounts (remember I balance hopped)

The cards have updated on my credit score (experian) so they are completely closed, I'm only seeing available credit 2k which i'm presuming is the loan as the credit cards werent 2k. One was 1.9 and the other 1.7.

The HSBC loan is STILL on my report (last updated 08/04/12 - I'd paid it off by then?!) I hear it takes 30 days to update so I was thinking it would have by the 8th of this month...it's now the 10th and no update

I think the estate agents/housing company are getting edgy as i've been putting them off for the past few weeks saying that i'm waiting for some documentation before I can go forward.

Basically. Does anyone know how I can get this loan updated on my credit file instantly? or do I just have to wait it out?

Kate4282

Surely if you just gave the mortgage company proof that you have paid the loan, this should be sufficient?

ryantcarter

@Kate4282 - Thanks but I believe everything's automated nowadays on computers etc. I don't think the 'decision' is made by a person.

Kate4282

ryantcarter wrote: »

@Kate4282 - Thanks but I believe everything's automated nowadays on computers etc. I don't think the 'decision' is made by a person.

Yes your probably right to be fair :-)

bargainbetty

I was told it can take 6-8 weeks to update a file. Just take along a statement confirming the loan is paid off, and you should be fine.

Good luck