Very Confused! 'Closed' accounts??

MammyRiley

Hi all,

I'm new to the forum and trying desperately to sot out my mess of a financial situation! So, I have approx £30k of debt (some joint with my husband), we are paying some off at £1 per week but have ignored this situation for so long, i have no idea which debts these are, just that they leave the bank!

Today i did a credit search with Experian and one with ClearScore. Experian are showing i have no debts and a score of 963! ClearScore is showing a score of 309 and ony 2 accounts current (2 overdrafts). However, Clearscore is also showing a lot of 'closed' accounts, what does this mean? I haven't paid these debts, some are showing as '£0', some as the amount i do owe (some i don't even know what they're for!).

It's so confusing, it's making me want to put it all away again and carry on ignoring things!

Thanks so much for any advice!

[Deleted User]

Firstly, ignore the scores.

Secondly, you'll need to advise what the status is on each of the accounts and how they are reported on each CRA.

Lastly, remember that not all lenders report to all CRAs.

With 30k of debt, I think continuing to ignore it probably isn't a great strategy.

sourcrates

Hi,

On some occasions when debts are sold on the original creditor just closes the original account and marks the balance zero and satisfied.

The new owner will usually start reporting in there own name, but not always straight away.

Your best bet, if you want to find out who you owe money too, and your credit file is of little use, simply cancel the payments, stop paying, and the relevant creditors will soon write to you to find out why.

You can then take stock of who the creditor is, how much you owe, and with that information formulate your next move, either with our help on this forum, or take further advice from one of the debt charities.