Credit report, default & questions???

Nursey76

Hi,
I would like some advice please...
Background...In Aug 2012 I joined CCCS, my Creation loan up until July 2012 was up to date with credit agreement repayments.
In Aug 2012 Creation sent me a default notice giving me 14dys to pay the 1 months missed payment but I was unable to do this as I was paying monthly payments to CCCS but did contact Creation to explain.
Creation received reduced payments from the CCCS every month from Aug'12 to March'13 when I paid an agreed reduced settlement amount to creation via Blair Oliver & Scott to settle the account & that I would not be pursued for the outstanding £5000 ish shortfall.

On 17 June'13 I checked my Equifax report which stated for my Creation account:
Current balance £0
Status settled
Updated/satisfied 30.4.13
Default 31.12.13
July'12-0
Aug'12-AP
Sept'12-2
Oct'12-3
Nov'12-4
Dec'12-D

On the same date I also checked my Experien report which did not have any Creation loan account details ever recorded.

Today I have checked my Experien report to find Creation loan account details & the following:
Current balance £5933
Default 31.12.12
Last update 5.5.13
July'12-0
Aug-0
Sept-2
Oct-2
Nov-3
Dec-4
Jan'13-8
Feb-8
Mar-8 balance before settlement amount
Apr-8 balance £5933
May-8 balance £5933

My questions/queries are:

On 18.6 13 Experien did not show any Creation loan data entry at all yet today 14.11.13 Experien there is data & status codes from Oct'11 when I took the loan out to may'13...thus the loan data & status codes & default were all added to my report after the loan was settled,backdated all in one go after the loan was settled, there's no mention of the arrangement to pay so looks like I just didn't pay anything from sept'12...Are they allowed to do this???

Why do I have a current balance showing of £5933 on my Experien report when I owe nothing, it doesn't even say partial settlement or satisfied default & Equifax says settled & £0 balance...Isn't this reporting on inaccurate data???

Why was a default notice issued by Creation in Aug'12 when only 1 months payment (July'12) had been missed!?!


I do understand that I did not make the agreed loan repayment from Aug'12 when I set up the arrangement to pay via CCCS & that I paid a reduced £84 a month payment up until the account was partially settled in Mar'13 but...
I feel that Creation were very quick (within a month of 1 missed payment) to issue a default notice letter.
I did not ignore the debt & made monthly repayments via CCCS as agreed.
To then issue a default to my credit file within 4 months of receiving monthly reduced payments.
I don't even recall & I'm not sure they have to Creation sending me notification of the 31/12/12 default as the 1st time I knew about it was on my Equifax report on 18.6.13.

I was planning on remortgaging in dec'13 with a lender who just searches Experien based on my 18.6.13 report but now my plans are on hold until 31/12/18.
I would really appreciate some thoughts, ideas & suggestions regarding the above & many thanks.

Dovah_diva

Sorry, can't read that. Can you summarise the info?

rizla_king

Only 2 things matter. Is the default date correct? Does it say the debt is satisfied?

Default on credit report should be dated within 6 months most of the time, so they are OK there.

Just need the Experian report to be updated to say you settled the account. Get on to BOS or whoever about that.

Experian_company_representative

Or you can ask us to take the matter up on your behalf Here's our online query form.

James

Nursey76

James can I clarify that a lender can report almost 2 years of loan data after an account is settled?
The loan was taken out in sept 2011 but it didn't appear on my Experien credit file until after the account was settled July 2013 onwards.
Many thanks.