Account Now 'Settled'

emmdee57

Hi guys. Ive previously posted about these cowboys before. To cut a long story short I took out a secured loan approx 9 or 10 years ago but I was made bankrupt and my property reposessed some months later. Even though I hadn't paid the premiums once I was away bankrupcy was due, the debt was never put into 'Default' and the finance company refused to alter the details on my credit file as they believed they were still owed money and it was their right. For some reason they have now classed teh debt as 'Settled' on my credit report, over 8 years since I last made a payment.

Having done some reasearch I understand that this will stay on my credit report for a further 6 years, meaning I will be penalised for almost 16 years.

Naturally I believe they are wrong in doing this. Does anyone have any idea who I should contact to get this off my file. No adverse record should be kept for more than 6 year I believe.

Help and suggestions please.

Thank you.

National_Debtline

Hi

Make a complaint to the Financial Ombudsman Service (FOS). The Information Commissioner’s Office (ICO) can also deal with credit reference complaints.

www.nationaldebtline.org/EW/factsheets/Pages/34%20EW%20Complaining%20about%20your%20lender/Default.aspx#

James
@natdebtline

edrushuk

I can't help you, but I have had accounts that they have logged as Arrangement to Pay which will only come of my file 6 years after the final payment. I went into a dmp in 2008 and final payment 2013, this will not come of my file until 2019. The Ombudsman sided with my debtor. Good luck

emmdee57

Thank you. I'll get onto them today.

Appreciated.