Credit reference agencies post BR

not_Dave

Hi everyone, I have a couple of questions and wondered if there is anyone out there who knows the answers...

1. I went BR in 2009 with a number of defaults including a mortgage and personal loan from Northern Rock, a large (£25k) loan from Natwest and some other stuff including another loan and credit cards etc.

Nothing except the smaller of the two loans and a contract with O2 remains on my credit file, i've just checked with Experian, and I wondered if anyone would know why that is as my 6yrs are not up yet. Everything was included with my BR and the OR had no dramas with any of it, there were no additional questions etc. and my discharge was granted after 12 months.

My Wife has checked her credit score too and there is no mention of the Northern Rock mortgage/loan on her records either, we're somewhat confused because we couldn't sell the house and eventually returned the keys. NR sent us the letter asking us to sign it, i can't honestly remember if we did, and since then, not a peep has been heard from them or anyone else for that matter.

I'm aware that the score itself is largely irrelevant but mine is higher than my Wife (973 v's 674) and i'm rated "excellent" by Experian whilst she is "fair", upon reading the files it would be obvious to anyone that i've had financial issues and i really don't expect to get any meaningful credit again for years (i don't want any, we were just being nosey)

My BR came about as a result of a failed business venture (sole trader) and i wondered if that would have any baring on things? My business failed because two customers collapsed and owed me a combined £40k, i just couldn't cover the loss and was left with no choice, the OR was very understanding and helped as much as she could, even letting me keep a van to help me start a new venture in the future, could it be anything to do with me not overspending in the traditional way or is it a fluke? Can i expect NR to pop up again at some stage (as i understand it, they have 12yrs to do so)

2. Assuming my credit file is accurate, is there any way to get rid of the two remaining defaults or is it simply a question of waiting for the 6yrs to elapse? (Experian tell me that after 6yrs, all defaults etc. are wiped whether satisfied or not)

Any information would be gratefully received, as said, we're not chasing credit but it would make life easier, following my BR and subsequent loss of our house we had to move into social housing as private landlords didn't want to touch us, we're now in a position where we can pay our way and want to move out of social housing and back into private rental, one day we might even consider another mortgage, if we can save up the (apparant 50% deposit)

Good fun this money lark eh? I wish we could go back to using pebbles, i've got loads of those!

Cheers all... my name is NOT Dave.

Buzby

As a sole trader, any debt remains exclusively yours - but are you checking the right CRA? There are 3 of them, so the bad news may be lurking in one of be others - Equifax is the other major one if you have to choose.

It is not uncommon for CRA's to mis-apply data, so some other hapless person who is not Dave, but as a similar DoB may be carrying the weight!

not_Dave

Hi, thanks for that. I know the debt remains mine, that's why I ended up going BR in the first place, had i taken the safer option of limited liability i wouldn't have had to throw myself to the wolves.

I've checked 2 of the 3, really couldn't be bothered with Equifax as they wanted me to call them to confirm a few details prior to granting access and, as said, we were just being nosey. I may reconsider now though.

Must admit, my first thoughts were that the information had been wrongly applied, i've not had a visit from the good luck fairy for a few years so it'd stand to reason that it's an error rather than a bonus!

not_Dave

Update - I've noticed that the two remaining defaults (both were included in my BR) are showing later default dates than the BR, in other words, it looks to me like they're pretending they were never included, maybe to sell the 'debt' on or maybe to try to chase it themselves at a later date - would i be right in thinking that i can write to those concerned and ask them to ammend the information to show the accounts as closed as of the date of my BR?

tigerfeet2006

Yes, the defaults should be no later than your BR date. So you need to get it marked as satisfied/partially satisfied.

https://forums.moneysavingexpert.com/discussion/677875

not_Dave

Hi tigerfeet

I'm now even more confused than I was when I initially posted... I checked your link (thank you) and thought that, seeing as I'm up anyway (the joys of a 5 month old) I'd log on to Experian to grab the addresses of those I needed to contact. Upon doing so I immediately noticed that my points total had fallen slightly (968 V's the original 973) and that both defaulted accounts have been removed altogether without me having to do a thing.

I updated my contact information with Experian yesterday as the details they had were out of date, so i guess that must have affected something, but i still don't understand why there is no mention of my BR on there. The only conclusion i can reach now is that Buzby is right and it's Equifax who are holding the bad stuff, think i'd better check just in case they have duff information listed too, ho hum.