Credit rating

simplesibbo

Hi again,

I've just checked my credit rating file with the agencies, Experian etc, and a certain financial institution has been registering non-payments and defaults for 6 months of this year - I went BR last October. I thought that when you went BR they stopped doing that. Is it me that's got it wrong or are they out of order. If so, how do I get it corrected/ammended?
Many thanks

fermi

It's the creditors who are out of order.:mad:

Creditors can default the accounts, but it should be a single default date NO LATER than the date of the bankruptcy order. The account should also be marked somehow to indicate it is satisfied/settled.

Go to the following link to see exactly how your Credit Reference Files and account info should have been correctly updated:

CREDIT REFERENCE FILE CLEAN UP – POST BANKRUPTCY

Then write the letter in the next link to their "data controller(s)" by recorded delivery.

Letter to former Lenders post Bankruptcy

If they then fail to update your account and records correctly, raise a complaint with the Information Commissioner:

How to raise a complaint with the Information Commissioner

The Information Commissioner will force them to update correctly, and even fine them heavily if they don't.

The process is a bit lengthy, but it always gets the job done.

simplesibbo

You're a superstar fermi - thanks very much

scaredwitless32

Fermi, do you know of many instances where its had to go to the information commissioner before the creditors play ball and mark it correctly?..............just out of interest

Conor_3

No. If you send a copy of your BR order to the credit reference agencies, they'll amend it even if the creditors don't.

fermi

Conor wrote: »

No. If you send a copy of your BR order to the credit reference agencies, they'll amend it even if the creditors don't.

Sorry but that is wrong.

You can get the Public Record record section of your CRF updated to reflect the correct date of your discharge from bankruptcy. That is useful to do if you received early discharge.

But it is only the original creditor who can permanently amend details of defaults and other account info.

If you dispute an entry with a CRA then the most they can do is temporarily remove it while they check the validity of the data with the creditor. If the creditor then replies that the data is correct (as they often do:rolleyes:), then the entry would be reinstated as is and you are back to square one.

So going through the original creditor is the only certain way to get it amended correctly. If they refuse after that the ICO will make them update it correctly.

fermi

scaredwitless32 wrote: »

Fermi, do you know of many instances where its had to go to the information commissioner before the creditors play ball and mark it correctly?..............just out of interest

I've heard of more than a few, yes.

Although, you tend to hear about the cases that cause a problem. The vast majority just give in and update the records without fuss.

scaredwitless32

ah, I see, thanks for that fermi