Credit clean up, quick question.

scorpioyorks

Hi, I wondered if anyone might be able to help me answer a quick question. I am in the process of cleaning up my credit file after bankruptcy and have read the thread about this, which was very helpful.

I have written to the companies involved and they have amended my file, but despite numerous reminders have put the incorrect default date on my account. Am I correct in thinking that this date should be the date of my bankruptcy? June 2011

They have marked the account as satisfied but this date is my discharge date June 2012, is this correct or should the satisfied date also be the date of my bankruptcy?

fermi

Default date and satisfaction/settlement date are two different things, and it is unclear which of those you are saying is set at your discharge date.

To be 100% clear.

Default date - MUST be no later than your bankruptcy date - the date your BR order was made by the court.

Settlement or satisfaction date - Should be recorded as your discharge date.

scorpioyorks

That's great, thank you for your quick reply. The satisfaction date is set at my discharge date, so it's all correct :-) I was confused and thought that the satisfaction date was supposed to be the date of my bankruptcy.

Thanks again, kind regards

scorpioyorks

Are they allowed to mark red defaults each month continuing until now?

azzadle

Apologies if it seems like I'm hijacking this, but I have a similar question but thought it'd be better asking in this thread rather than make my own (sorry for the MASSIVE space, it won't let me delete them..:









































I was granted a DRO on Feb 15th 2011 and discharged from said DRO a year later. It shows on my file as:
Insolvency Date
15 Feb 2011


Having done a bit of digging, I've found that several companies placed my account into default after the insolvency date and are still reporting it as default. The 5 D's on my file were all included in the DRO however some are showing on Equifax as "Closed <date>" but still reporting as D. What should I do with the following?


Lloyds TSB (bank account)
Last Updated 30 November 2013, Default Date 7 March 2012 - showing as D but on Equifax it says Closed 7 March 2012 (default balance <x>) and last updated with a D on 24 April 2012.


Barclaycard (CC)
Last updated 29 November 2013, Default Date 30 August 2011, showing as D but again on Equifax it shows as Closed 30 August 2011.


Barclays (bank account)
Last updated 30 November 2013, Default Date 16 February 2011, Equifax shows as Closed 16 February 2011 but updated on 14 May 2013 with a D.


EE
Last updated 8 December 2013, Default Date 3 February 2011, Equifax shows as Closed 3 February 2011 was last updated with D in January 2013.


Quickbridge LTD
Last updated 1 October 2013, Default Date 4 May 2011. Strange goings on with the history here from 2011:
Feb (DRO month) 3, Mar 4, Apr 5, May 6, Jun D, Jul US, Aug (never entered an arrangement with them), Sep 2011-Oct 2013 D.


All of them have shown as D on or after the DRO date with exception of EE - should these be showing as satisfied and are they allowed to do that?


Should I write to these companies explaining the situation? Are they right to still be reporting me as Default?

scorpioyorks

Glad i'm not the only one with the same question. Have been searching the internet as to whether red defaults are supposed to appear after the account is marked as settled, but have had no luck finding out as yet.

Will keep looking and report back if I find anything.

fermi

You will need to query that with the CRA that is showing them. Used to the case it was just a convention on how the particular CRA represented defaulted and settled accounts. Some used to not have the status updated at all after the settlement date, while others updated the marker every month. Didn't mean new actual new defaults.

I thought they were all doing it the same way now and freezing updates, but perhaps not? The CRA will be able to say.

In the end though it's not critical. The defaulted account still drops 6 years from the original default, and BR itself will be on your report until then, which is a bigger badder nastier negative marker than any account history update, even if wrong.

scorpioyorks

Great, thanks so much for your response. It's nice knowing there is someone with good advice when you are going through a difficult time and aren't sure what to do. Think MSE is brilliant!

Kind regards

azzadle

Thanks for your reply fermi.

Are they not supppsed to show as S or PS once discharged? Some creditors I had accounts included in the DRO updated with a PS once discharged, but obviously most haven't done that. It's so difficult to try and sort out as there appears to be a lot of mitigation between creditors and CRA's so we don't really know where we stand.

Since the DRO I've managed to get 3 credit accounts (2 cc's in there with low limits solely to help my credit rating). I want these clarified if the above accounts appear as closed rather than open then that might help my chances of getting further credit should I need it. It's for peace of mind mostly.

Cap One registered a D back in 2010 but show as PS/closed now. I'm aware the D won't drop off until 2016 but it seems better having a closed account.

luvchocolate

noddle were showing default every month on a property repossessed 2 years ago I pointed it out to them and its now sorted...a result!