Credit report advice

rltatty

Hey all,

I have recently been contacting my creditors to discuss my accounts as I am not in a situation to be able to pay the outstanding balances due to the fact I have several health issues and am unable to work due to this, and this is unlikely to change in the foreseeable future.

I have had responses from the majority of the creditors I have contacted, and several have agreed to "write off" the debt, due to the circumstances, and have reported this to the credit reference agencies.

The question I have is relating to a debt collection agency who holds several accounts for myself.. They have agreed to "write off" the balances of the accounts, making the balance £0, and stated they will never chase me for the debt - as according to their records the balance is obviously now £0. However, they have advised they will not report this to the credit reference agencies, due to the fact they have done this out of "goodwill". Now, don't get me wrong, I am very appreciative of this, but would like to know if this is right, as my credit file obviously still shows all of the accounts with the original balances - when they are now zero? Can I request the CRA's to update my credit file to show this? (I have an e-mail trail from the DCA showing my accounts are now £0 to prove this). They advised I would just have to wait until the defaults dropped off my credit file (advised 6 years from the date of default).

I'm just looking to see if they are right in what they are saying, or whether I can have the new facts reported on my credit file.

Any advice would be greatly appreciated - and please don't assume i'm just looking for an easy way out - it has taken some time for me to get to this stage, and the only other option I had would have been to apply for a debt relief order... If they're correct in not reporting the new balances to the CRA's that's fine, i'd just like to make sure this is right before I just accept it and move on lol.

Thanks in advance

Rltatty xx

sourcrates

Hi,


A creditor is duty bound to report your information correctly, however, if they have written off the balances, as a gesture of goodwill, then I would say you are extremely lucky, as others on this forum have not had the same results.


I doubt you want to take out any further credit, so what's reported on your credit file will be irrelevant to you.


Do not look a gift horse in the mouth, I would take there offer and run, before they change there minds, and think myself very, very lucky indeed !!!

Karonher

I'm just looking to see if they are right in what they are saying, or whether I can have the new facts reported on my credit file.



Although you may not want credit they may be concerned that you will then just apply for a lot more and with a clear file would robably get it.

rltatty

Thanks for the replies.

I most certainly am appreciating how lucky I am that they have been so generous, and was just looking for some advice on the situation to see where I stood. I most definitely will not be applying for any further credit, and the credit that is in question is owed from around 4 years ago.

Thanks again,

Rltatty_X