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Credit Files and Updating Not Happening

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
1 reply 416 views
Silverlady55Silverlady55 Forumite
7 Posts
edited 30 November -1 at 1:00AM in Debt-Free Wannabe
Please can anyone offer any advice about updating credit files for defaulted accounts. I have several accounts on my credit reports that are shown as defaulted because I defaulted and then entered an IVA which has now failed. However, I have now settled these defaulted accounts in full. At the time of settling them I wrote to the creditors and asked them if they could update my credit reports to show the accounts are settled in full now and have zero balances, but none of them seem to have done this and the accounts are still showing balances instead of zeros. I understand the default marker can't be changed, because I did initially default on them. But don't they have to update my credit records to now show the balances as zero as I don't owe anything on them? I settled these accounts about a month ago, so am I expecting it to be updated too quickly or should I contact the credit reference agencies now? Thanks for any advice offered.


  • fermifermi Forumite
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    They should be updated to show nothing is owed on the current balance and that they have been 'satisfied'.

    The default balance if shown is something different and is the balance at the time the account was defaulted, so that stays at that figure no matter what.

    If creditors send a monthly update the status would normally be changed with that, and depending when actioned could be a couple of months reasonably.

    You can complain to creditors if you want, but may want to give it a bit more time. Up to you.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
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