Credit clean up question

Manoona

Hello everyone,

Its been a while since ive been here so forgive me if this is a common question, I am still, a year after bankruptcy trying to get my credit file cleaned up - most have been very efficient but Vanquis and Quickquid are still showing on my account as defaults - I have written to them twice now and was about to post off my third letters before raising a complaint when I was informed that legally they dont have to mark my file as settled/satisfied/part satisfied in any way if they do not want to!

Is this right......I just find it odd that on the sticky at the top of the forum it has a procedure to take the matter further if legally they dont have to update it and can leave it for the whole 6 years?

If thats the case then i'll stop trying as it costs mney each time I do, but if in fact that is not the case then i'll try one last time! lol

Thanks all

fermi

They are telling you porky pies. They should mark them in some way to show that they are satisfied by the bankruptcy.

They don't have to mark them as fully satisfied/settled true, but they should mark them in some other way, say with a partial settlement flag.

See ICO guidance:

http://www.ico.gov.uk/for_the_public/topic_specific_guides/bankruptcy.aspx

What happens to defaulted accounts on my credit reference file?

After you have been discharged from your bankruptcy you can send proof of your discharge to all the lenders whose debts were included in your bankruptcy. Those lenders should then mark the entry on your credit reference file to show that you no longer owe money on that account (perhaps by marking the entry as ‘partially satisfied’ or ‘partially settled’ or in some other way).

http://www.ico.gov.uk/%7E/media/documents/library/Data_Protection/Practical_application/DEFAULT_TGN_VERSION_V3%20DOC.ashx

51 There are other circumstances where the terms ‘satisfied’ or ‘settled’ are not appropriate because they do not adequately reflect the fact that lenders have been left with no choice but to accept significantly less than they were owed under the terms of the original agreement. Examples include the following.

• Where an IVA, which included the lender, has been successfully completed even if the lender did not recover all the money owed under the terms of the original agreement.
• Where a lender has received all the money owed under the terms of a bankruptcy order which has been discharged, even though the amount received falls short of the amount owed under the original agreement and, in some cases, may not have received any payment at all..
• Where a secured asset has been possessed and the lender is no longer chasing payment of any outstanding debt.
• Where the lender has accepted as part of a negotiated settlement a payment that is less than the outstanding amount and the customer has agreed as part of the settlement how their credit record will be affected.

In the first two examples above, borrowers are under no legal obligation to pay any more money.

In the last two examples the lender who is responsible for the record has decided it is not worth chasing further payment.

In these circumstances, we understand a lender may be reluctant to mark the entry as ‘satisfied’ or ‘settled’. However the entry must record the position adequately, for example, by showing that no further monies are expected and the account was partially paid.

fermi

Make sure you tell them that you will be taking the matter to the IOC and the FOS if they do not comply with their duties under the data protection act as per ICO guidance.

Use the FOS as well when taking complaints further, as they (a) may respond quicker than the ICO and (b) any complaint through them will cost these awkward companies £500 for the pleasure.