Updating credit report

cyborgevo

Hi there

After reading the forums for a long time, and sorting out my debts about 12 months ago using template letters off here, I am currently in the process of becoming debt free!

I have 2 questions I was wondering if someone could help me with!

I have recently got my £2 credit reports and noticed that an old Barlcays account, I had 2 young persons accounts which went into default by going into my unarrange overdraft, one by £70 and one by I think about £50, I cleared one with Barlcays and they told me the other had been written off, yet they still appear on my credit report with balances of £32 and £27, how do I get these updated?

Also I have found a few of my old accounts showing as satisfied does this mean they have been written off and once they show satisfied does this mean that they are clear and no longer have such a negative impact as an account showing as being in default?

Many thanks

"Cyborg Evo"

erimus1

The fact that you defaulted and this was shown on your account it an overwhelming damaging fact. Some lender just will not give credit to people who have current or satisfied defaults on their files, however, there are some lenders that will give credit in certain circumstances according to their lending criteria. Do an Internet search for general underwriting for loans or mortgages and you should get some information on some lenders relating to this. For example some lenders would say that they will accept 1 default that is satisfied within the last two years. I know that some say that they will accept defaults from telecommunications companies for under certain amounts. Like you will see from most information on the net or otherwise, different institutions have different lending criterias.

Insofar as these debts are concerned, well the balance has not been paid off and Barclays have only told you over the phone that they have been written off so realistically, they can still report an outstanding balance on both accounts.

If I were in your position though I would seriously consider getting these removed. The amounts are so small, I would say you have a great chance of getting them removed if you get out your begging cap. I myself, and many other people have got defaults with much bigger balances removed. Try asking nicely and then just keep asking until they remove them.

Don't get me wrong, I do not encourage bad money management, but I do not feel that the power that these institutions and lending agencies have insofar as defaulting people is justified.

Good luck

thatsean

A default is a factual statement of the manner in which you ran your account. If you defaulted on the terms it will show on your credit file for 6 years from the date of the default. If you cleared the balance after the fact they ought to show as defaulted - satisfied. You cannot have the defaults removed, unless they never happened.

cyborgevo

To be honnest im not after any credit at the moment, I think in my financial position nobody would give me any and rightly so, be it my fault for defaulting but at the time it seemed the only option.
Only 2 of my 10 defaulted accounts are on my credit report, so I assume these are the best to clear first as the rest cant be seen when doing a credit search?

I paid one barclays account off and the other I was told had been written off, this was by barclays recovery dept over the phone. I suppose I need to get some written proof?

Are there any template letters for requesting the information to be removed anywhere?

Thanks again

"Cyborg Evo"

erimus1

Just a tip - if the defaults aren't on your credit report, don't contact anybody who has anything to do with the debt in any way. Defaults are si difficult to remove.

McKneff

If the debt is a true debt, you will never be successful in getting them removed, they will disappear automatically after 6 years so to be honest I wouldnt waste my time. A default is a default, no matter how much it is for.

The only way defaults are removed is if the company who registered them had made a major error.