cleaned up my files but default balances re-appeared?

exponential · 15 August 2012 at 7:29AM

Hi guys.

Im a littled miffed this morning.
Ive just checked my experian file this morning after cleaning them up 2 years ago after my ED.
Havnt checked them since i cleaned them up until now and im glad i did.
One of my creditors has sneakily reappeared as a defaulted account whereas when i cleaned them up, after 2 months, every creditor was marked as "settled".
How can this have happened?

Its put me on a bit of a downer after all the work i did cleaning my files. Thought that was the end of it all but obviously not!!

What is my next move guys?:(

P.S - I was known as "leftatthelights" when I went through my BR for those that may remember me.

fermi · 15 August 2012 at 8:24AM

Is there now a current balance, or is it just listing a "default balance"? Is the entry otherwise marked as settled in some way?

A default balance is not the same as a current balance. It is OK and normal to still show the default balance, as all that shows is what the balance was when the account was formally defaulted. Not what the current status of the account is.

exponential · 15 August 2012 at 9:19AM

Hi Fermi.

There are 7 accounts listed as defaulted (in a nasty red colour) but each says "settled" in the adjacent column. These are the ones I corrected during my clean-up back in 2010.
However, one of these accounts now, mysteriously has an outstanding balance next to it.
It is only £256 but it isnt the point, i know for definate that it was marked as settled so how has this happened?

If i get chance to, i will post the actual credit file for you to see but im in work and may not be able to?

What should I do?

exponential · 15 August 2012 at 12:23PM

Also, as a sidenote, I have two CCJ's on my file for debts that were included in my BR. Is it right that I can now have them removed due to the fact that the CCJ debts are classed as satisfied??

If so, any ideas on how to go about removing them?

fermi · 15 August 2012 at 12:37PM

It would be helpful if you could post it up if you are able?

CCJs from before your BR cannot usually be marked as satisfied. The rules on updating them are separate to the ones on default (different legislation), and only allow CCJs to be marked as satisfied if you can show they were actually settled by paying the creditor. Obviously can't happen with one covered by a BR.

However, it doesn't matter. A CCJ from before your BR will have fallen off the record by the time your BR itself is removed. And since the BR is a bigger badder black mark than any unpaid CCJ, in the meantime the CCJ is pretty irrelevant.

exponential · 15 August 2012 at 2:35PM

Hi Fermi.

Here is a snapshot of my credit file:

Firstly, The problem creditor......

VIRGIN MEDIA
Communications
Default
£253
29/07/2012

VIRGIN MEDIA Who's this?
Entry Number: C4 | Account Updated to: 29/07/2012

Name:Address: Date of Birth:Account Type:

Communications Started:

22/04/2006 Current Balance:

£253Default Date:

14/05/2007Default Balance:

£253

View Account Status Details: False

Last updated: 29/07/2012
Status Code:

Balance:£253£253£253£253£253£0£253£253£253£253£253£253
Status Code:

Balance:£253£253£253£253£253£253£253£253£0£253£253£253
25-36 months:

37-48 months:

Payments made and up to date.
1,2 or 3 payments late.
4,5 or 6 payments late. 8 indicates that you have failed to keep your credit agreement and have not responded satisfactorily to requests to put your account in order. As a result the credit agreement has ended.

A defaulted account is removed from your report after six years whether or not you have paid the debt in full. If you have paid some of the debt off, the balance should show how much you still owe.

And another:

NORTHERN ROCK (ASSET MANAGEMENT) Who's this?
Entry Number: C5 | Account Updated to: 24/10/2010
Name:Address: Date of Birth:Account Type:

Loan Started:

01/03/2006 Current Balance:

SatisfiedPayment Terms:

£158 x 120 months Default Date:

10/05/2007Default Balance:

£18,410Partial Settlement:

Start Date:01/06/2010

View Account Status Details: False

Last updated: 24/10/2010
Status Code:

Balance:£0£18,320£18,320£18,320£18,320£18,320£18,320£18,320£18,320£18,320£0£18,320
Status Code:

Balance:£18,320£18,320£18,320£18,320£18,320£18,320£18,320£18,320£18,320£18,320£0£18,320
25-36 months:

37-48 months:

49-60 months:

Payments made and up to date.
1,2 or 3 payments late.
4,5 or 6 payments late. 8 indicates that you have failed to keep your credit agreement and have not responded satisfactorily to requests to put your account in order. As a result the credit agreement has ended.

A defaulted account is removed from your report after six years whether or not you have paid the debt in full. If you have paid some of the debt off, the balance should show how much you still owe.

Another:

LOWELL PORTFOLIO I LTD Who's this?
Entry Number: C7 | Account Updated to: 20/05/2012
Name:Address: Date of Birth:Account Type:

Current Account Started:

06/01/2001 Overdraft Balance:

SatisfiedDefault Date:

09/03/2007Default Balance:

£2,766Notice of Correction:Y1

View Account Status Details: False

Last updated: 20/05/2012
Status Code:

Balance:£0£0£0£0£0£0£0£0£0£0£0£0
Status Code:

Balance:£0£0£0£0£0£0£0£0£0£0£0£0
25-36 months:

37-48 months:

Payments made and up to date.
1,2 or 3 payments late.
4,5 or 6 payments late. 8 indicates that you have failed to keep your credit agreement and have not responded satisfactorily to requests to put your account in order. As a result the credit agreement has ended.

A defaulted account is removed from your report after six years whether or not you have paid the debt in full. If you have paid some of the debt off, the balance should show how much you still owe.

Lastly:

NATIONWIDE VISA Who's this?
Entry Number: C9 | Account Updated to: 01/12/2010
Name:Address: Date of Birth:Account Type:

Credit card / Store card Started:

02/06/2005 Current Balance:

SatisfiedDefault Date:

12/04/2007Default Balance:

£4,377Satisfaction Date:

20/09/2010Partial Settlement:

Start Date:01/06/2010

View Account Status Details: True

Last updated: 01/12/2010
Status Code:

Balance:£0£4,377-£999,998£4,377£4,377£4,377£4,377£4,377£4,377£4,377£4,377£4,377

I know that is a LOT of information to look at but could you please have a look and see if there are any other errors apparent to you that I cannot see??

I was given ED 14th June 2010 by the way.

Hope this information helps you to help me!!!:(

exponential · 15 August 2012 at 2:37PM

By the way, Equifax have no record of BR whatsoever. not even the CCJ's??

And there are 103!!! linked addresses on my Experian file! Is that normal??

fermi · 15 August 2012 at 2:45PM

Virgin Media - Does indeed seem to indicate an unsettled balance from that info. What can happen is that they send a manual update to the CRA to mark a debt as settled, but for some reason that info isn't passed on to the system that sends automatic monthly updates. Meaning that the settled flag/info gets overwritten by the old status the next time an update is sent through.

That may or may not be what has happened here, but if the unsettled status bothers you then you need to give Virgin a kick up the bum. I would not that the debt will come off the file in May next year whether you sort it or not. The default date is before your BR date which is the most crucial thing.

Nationwide Visa - Settlement date is wrong as presumably they have just used what would have been your AD date? Technically wrong, but not worth wasting time sorting IMHO.

The rest looks OK as far as I can tell?

fermi · 15 August 2012 at 2:50PM

exponential wrote: »

By the way, Equifax have no record of BR whatsoever. not even the CCJ's??

And there are 103!!! linked addresses on my Experian file! Is that normal??

They should have record of it as it is public info they get sent as a matter of course. So for some reason they are not matching the BR and CCJs against your info? Maybe a slight mismatch in an address or something? The matching is automated, so even a small mismatch can sometimes prevent the records being tied together.

103 seems a lot, but multiple address links are not a problem as long as they are all correct addresses for you. When they get an address link from a source it normally gets recorded as a separate link, even if it's an already known address. So with multiple accounts and sources you can end up with dozens of duplicates. Apart from looking a mess, it does no harm if they are correct.

exponential · 15 August 2012 at 8:45PM

Hi.

Thanks so much for your valued input!
I really do appreciate it.
I guess that it doesnt really matter beacause, as you stated, all of my defaulted accounts included in my BR will automatically fall off my files by June next year anyway.
My two CCJ's are also connected to two of my defaulted accounts so therefore, will also have fallen off my files by June next year so everything is heading in the right direction.

I have recently just been accepted for a Barclaycard "initial" that im using to transfer a balance from the ridiculously high APR Vanquis card (which has been cancelled and cut up BTW) and have also just been approved a Barclays full current account which includes overdraft (which i havnt had for a LONG time) so my credit files/rating cant be all that bad can it?? Unless ut was pure luck??

What is your opinion Fermi? Was it luck?

fermi · 16 August 2012 at 7:51AM

There is often some element of that. But it also depends on what the rest of your current finances are like. If you have a good secure income, and healthy finances post BR then that could count for a lot.

Good anyway.

cleaned up my files but default balances re-appeared?

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