Double Default Entry - Experian

Experian_company_representative

Most lenders don't look manually at credit report data, they just feed it into scores. As a result, the duplication has no impact because the original entry is excluded from scores. Only if they then carry out a manual check could they see the raw data and both entries but, importantly, the individual carrying out the manual check will be trained and will know that both entries relate to one debt.

James J

kingstreet

Hm. Spoken to Nationwide.

As long as it's not a "policy" decline, it should be editable so I can try lower LTVs to see what I'm up against.

James - Lloyds has now advised the client to go to a LBG branch and have a go at getting it removed.

TBH it may be something and nothing, but if we don't try everything, the clients options may shrink to near-prime and higher rates for the next two or three years.

I'll never know if it was an issue. All I'll get is the accept or decline. Without tackling it, I might get a lower LTV accept than I would have done if it had been removed. Then the client's limited deposit will force him into a smaller/cheaper property than he needs...

rizla_king

Experian_company_representative wrote: »

the individual carrying out the manual check will be trained and will know that both entries relate to one debt.

:rotfl:

Your argument falls down right there. Most bank staff are clueless. Even the ones who should had been trained to know the difference.

Had one say on doing a manual check that they couldn't understand why defaults were not on there, as they stay until paid and never drop off if not. WRONG. They also told me that you get a brand new default every month when not paid. Told them that was rubbish and its just an update but they were adamant that it should be a whole new default entry. WRONG.

Had similar with other bank staff who should have been trained.