Coming off debt plan (credit score?)

madein83

About 3 years ago, I entered into a debt management plan with a third-party company for 2x accounts with Barclaycard, and 1x Amex.

Total debt was ~£18k.

I then left the country, and was gone for about 3 years. Every month since (with a couple of instances where the management company didn't forward funds on time), I've paid back the agreed monthly amount.

I'm now back in the UK, and my financial situation has improved. I'd like to resume paying at the regular rates. I've already been told by Barclaycard that they cannot reinstate the card facility (understandably) but if my situation has changed, they'd want to put me back at the regular interest rates.

I'm totally fine with that, but here's my problem...

Neither Barclaycard nor Amex has been reporting to my credit file since going on the debt plan. I'm back at a new address and NONE of them show on my credit file. This cannot be because I'm not linked to my old addresses, because I am... EVERY address I've ever lived at, along with all of my old accounts (bar these three) is shown on my report.

Barclaycard stated that they would continue to report to my credit file starting when I return to the regular repayments. That would be great - EXCEPT if they show all the previous history including the original default, and the several times that the management company hasn't fwd'd the money on time (maybe 2-3 months out of the past 24).

I'd like to pay them back as usual, but I'm concerned reestablishing this creditor will drag ALL of my previous negative history with them (default, etc) onto my current file. This will take 3+ extra years to get rid of. It'd be the worst of all worlds -- jumping from 0% APR (frozen for the debt plan) to 20%+ AND my credit history would look shocking... 2-3 defaults and late payments.

I've tried asking them if this would be the case, but cannot get a straight answer - they don't seem to understand the question. All they say is "your past history would remain on your file for 6 years". I get that. What I don't get is whether reestablishing the regular interest rate and reporting anew to my credit file would 'import' ALL of the past history along with it.

It doesn't appear on my file AT ALL right now... and I'd prefer it to stay that way and just pay them off 'silently' -- OR, have this show as a new creditor with the balance reducing every month.

Any idea how this would play out? I'd really like not to throw myself backwards for another 3+ years... hoping to get a mortgage next year.

Thanks in advance for any advice!

BugsyBrowne

They are not going to be on your credit file as you've not updated your credit report or applied for credit at your new address.

madein83

BugsyBrowne wrote: »

They are not going to be on your credit file as you've not updated your credit report or applied for credit at your new address.

Not the case. I have 4 new creditors at my new address - a secured credit card, utility company, and current account. All are reporting just fine to my address.

All are new since December, and therefore now show 3+ months history. My credit score has climbed 300+ points since then.

Again, ALL of my old addresses are linked, and the report shows my historic accounts that were since settled. But neither Barclaycard nor Amex are on there, and don't seem to be affecting my score.

What gives?

BugsyBrowne

madein83 wrote: »

Not the case. I have 4 new creditors at my new address - a secured credit card, utility company, and current account. All are reporting just fine to my address.

All are new since December, and therefore now show 3+ months history. My credit score has climbed 300+ points since then.

Again, ALL of my old addresses are linked, and the report shows my historic accounts that were since settled. But neither Barclaycard nor Amex are on there, and don't seem to be affecting my score.

What gives?

Not 100% sure then why they're not on there then.

Quick Tip...take no notice of the credit scores Equifax or Experian sell you as they are irrelevant and meaningless and in no way determine your credit worthiness.

madein83

BugsyBrowne wrote: »

Not 100% sure then why they're not on there then.

Quick Tip...take no notice of the credit scores Equifax or Experian sell you as they are irrelevant and meaningless and in no way determine your credit worthiness.

Thanks, I'm aware that each creditor has their own scoring criteria, but surely they at least reflect the information that's on my file?

i.e. if defaults suddenly start to appear on my account, then likely they're gonna show me a lower internal score.

My Experian score has bumped 300 points in 3 months as new credit accounts have been opened. My concern is that if my Barclaycard history suddenly pops up... I'm pretty much out of the credit acquisition game for the next 3-4 years...

Trying to avoid that if possible!

BugsyBrowne

Have you checked Equifax as well.

madein83

BugsyBrowne wrote: »

Have you checked Equifax as well.

I have a subscription to both CheckMyFile (Equifax, CallCredit & Experian basic info) plus CreditExpert (just Experian, more in-depth).

It's not showing on any.

BugsyBrowne

madein83 wrote: »

I have a subscription to both CheckMyFile (Equifax, CallCredit & Experian basic info) plus CreditExpert (just Experian, more in-depth).

It's not showing on any.

Think you'll find your barclaycard debt when you sign up for Experian or Equifax.
Checkmyfile is NOT Experian nor is it call credit or Experian.

You need to check Experian & Equifax not third party CRAs that lenders don't give a to*s about.

madein83

BugsyBrowne wrote: »

Think you'll find your barclaycard debt when you sign up for Experian or Equifax.
Checkmyfile is NOT Experian nor is it call credit or Experian.

You need to check Experian & Equifax not third party CRAs that lenders don't give a to*s about.

CreditExpert is owned by Experian, is it not?

BugsyBrowne

madein83 wrote: »

CreditExpert is owned by Experian, is it not?

Sorry didnt see you've signed for credit expert.

Sign up for Equifax and I'll bet your barclaycard debt is on there if not you've been lucky.

Experian_company_representative

CreditExpert is an Experian product. Experian provides no credit history information to Checkmyfile.

Sounds like the accounts defaulted and have since dropped off your credit report. If the same lenders open new accounts for you these will not include the history of any previous accounts you had. Past defaults certainly can't be reinstated.

James Jones