Help :/

aymz1983

Every time I look at my Experian report I get more confused than the previous time! If someone could please point me in the right direction/give advice it would be very much appreciated.

Ok. So my credit file up until two weeks ago showed two accounts with Lending Stream.
One was shown as settled (previously had a balance of £9!) started 14/10/10 settled 13/2/14. Motormile had it assigned to them Feb 14.
The second one, started 19/10/10 was shown as defaulted, default date of 17/11/12. default balance of 263 but it is showing as satisfied. It was assigned to Motormile in August 2013 but shows it was assigned to CAIS Member 1/3/14.

I go on to my file today, and notice that I have a default dated 26/10/10 from Motormile for £39 for an account that was started 14/10/2010. This is for the first LS account. MM have put this onto Experian in the last two weeks although it says last updated 6/4/14. I paid MM £39.41 end of May to clear the first debt. I presume the £30.41 were MM charges.

I have another MM default showing for 282, account started 19/10/10 default date 26/11/10. Last updated 6/4/14. This is for the second LS account. I spoke to MM today who confirmed that that was the correct balance outstanding. So Presumably the extra £19 is MM charges.

So...in relation to the first LS account which is showing settled, but default from MM - which should it be? And should MM have put the default on after I'd paid it off?

In relation to the second account, I have two defaults, one showing as satisfied by LS, and one showing as outstanding with MM. With two different default dates. Which one should it be? I thought there couldnt be two for the same account??

I have spoken to LS - they cannot tell me anything as the debts were sold onto MM in Aug 13 and Feb 14. MM have asked that I screenshot credit file and write the issue so they can have a look, something I'm reluctant to do with them quite honestly.

If anyone can get their head around the above, and could perhaps enlighten me some, that would be wonderful. I have requested statements and docs from MM, although I doubt I will see them without putting it in writing and paying for it.

Thank you

aymz1983

Anyone?! Thank you again:)

happy_bunny_2

In relation to your first question, is the default dated after you paid? If so, I would complain about that. They can report it at any point after it has defaulted, just sometimes takes a while to do that.

For the second one, if LS says sold to CAIS member, then there can be 2 defaults. The dates must be the same though. Easiest way to get it fixed is to send them the info they want. Make sure in your letter it's clear it's a complaint, as if they fob you off or after 8 weeks, you can refer to FOS.

Zkr65

One thing that may help understand, is that a credit referencing agency is NOT updated in real time..

Nearly all lenders will do a 'data exchange' called billing where they send through all the updates to the associated CR companies. So the dates are always out.

I.e. you have a £100 debt on first of April.. it's settled on the 29th - too late to change the billing data, off it goes.. appears on the file as 'unsettled' until the next month when data is exchanged.. in which it then changes to settled..

So the dates they hold are out of sync by often 1-2 months..

MM will have a underwriting unit that can view your Credit File without a printscreen.. and of course, if there is an error on the companies behalf, the file can be amended. (But the company has to accept blame)

aymz1983

Thank you. I am just really annoyed that it not only took 3 years to get the default on the credit file whem they had my info, but that they put it on two months after I hadpaid it.
if there are 2 defaults, will both show to any prospective lenders or will just one show?