Credit Report Balances

newjam

Hi Guys,

I have just checked my credit report and i noticed a big difference on one of the Debtors.

When they write to me they are asking me for £1842 but on my credit report it says i owe £842. How does this work??

Should i be paying the £842 or the £1842??

I emailed them to ask them and i got what seemed like a n automated response on a breakdown of what charged they put on once you defult. Surely these charges would be on the total on my credit report too?

Any help welcome

Tixy

The creditor should keep your credit file up to date, including the balance. That said typically up to date is 1 to 2 months behind reality.

Are you paying/being chased by the original creditor or a debt collector?

Is the credit entry on your file in the name of the original creditor or debt collector?

Providing they can produce a transaction list/statement to prove that you owe £1842 then you would need to pay that amount regardless of what is on your credit file. You could complain to ask them to show an increased balance on your credit file, although you may well decide not to .

sourcrates

Yes unfortunately a lot of lenders do not update balances as often as they should on your credit file, I still have balances on old closed accounts that were never updated in 6 years, so don't pay too much attention to what the balance on your file says.