new bank account needed - experian not updating credit report 31 July 2013 at 8:31AM in Credit file & ratings 14 replies 1.2K views

hayles01

I need to set up a new bank account and came out of an IVA last June so my 6 years for it showing on my report was up this June. Equifax and Call Credit updated my record straight away upon receipt of a copy of my completion certificate. Experian are taking ages to update my records. I need to set up a new bank account and wondered if it is worth trying while I am waiting for experian to pull their finger out. I can prove it has expired and that is has been removed from the other 2 so surely the banks will see that it should not be there as it is over 6 years old. There are no defaults showing just the IVA on the public record section which shows the start date as 29/6/07. Any advise appreciated! I am looking at a new account with Halifax or Nationwide if anyone has any advice.

CKhalvashi

A certificate of completion needs to be sent to them, and possibly a formal complaint under s.55 Data Protection Act, reminding them that reasonable compensation may be payable if they mess around.

CK

hayles01

I have sent them a copy of my cc and also a copy of my letter confirming my start date, they are just taking their time updating it (or telling me it has been updated).

CKhalvashi

You only see it updated one time a month.

I'm not sure if this is for just reports, or whether it's for everything.

CK

izools

Experian's CreditExpert service does update the online report on a daily basis, so if one of their agents has correctly removed the offending record from OP's credit file they would be able to see this change the following day.

OP, as advised raise a formal written complaint to Experian.

I strongly hold off applying for a new bank account until this is rectified, as all banks (except Metro AFAIK) search Experian and the person in branch you see won't have any control whatsoever over the decision the computer makes, completion certificate be damned.

On another note I hope you don't mind me asking - I presume you have a bank account at present - what's wrong with it?

hayles01

So as they have failed to confirm to me that they have updated it I am going to have to pay for another £2 report to check they have done it.

I have had a managed account since I started my IVA and really don't want to pay £14 a month for it any more when my credit report is clear. I want to go back to a high street bank and open a current account and savings account.

izools

Oh fair enough.

Is there anything on your credit file whatsoever? (Besides of course the incorrect IVA entry on your Experian file)

E.g. any well maintained accounts?

hayles01

Yes there is my mobile phone and an old credit card that wasn't included in my IVA in error, both have been running fine for years and never missed or been late for a payment so hopefully that will help.

izools

In that case pop on to Natwest's website and try for a full account.

They primarily search Equifax not Experian so should offer you a full account there and then on their website but if not they will offer you a more basic account, which still provides you with a debit card, standing orders, direct debits, and online banking, just no overdraft or chequebook.

I think you'll be good to go with them - good luck, and let us know how you get on :beer:

MoneySaverLog

Well advised not to apply for a standard bank account until the IVA is removed. It will get picked up as the banks check all 3 CRAs and the IVA record whether it's there rightly or wrongly will stop the application dead

hayles01

Thanks for your help - I will let you know how I get on. I think I will just pay for another report and see if it's been updated seeing as they have failed to confirm whether it has been updated.