We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Credit File and TSB
mBroon
Posts: 2 Newbie
Hi there,
Wondering if anyone could shed some light on if I am right or have misunderstood.
I was made bankrupt in May 2016, discharged December. (Scotland) Included in this was a TSB account. I have been working through the credit rating clean up file sticky and had sent them the appropriate letters, as tsb have logged me for Default every month since May 2016 whilst the rest of my accounts have updated to settled or satisfied. Letter was followed by months of 'We're still looking into it..." letters. I then eventually got to talk to someone on the phone who assured me it had been resolved, and I was sent a letter to say it had been resolved too. All good - even if it had taken well over a year!
However my rating has still not been updated since and last week I received a new letter which states
"We are aware you declared yourself bankrupt in May 2016....Although you may have been discharged from the bankruptcy, the default will remain on your credit file for 6 years with credit reference agencies." and goes on to say they are correct and the information is right.
It was my understanding that the default would be changed to a 'Settled' or 'Satisfied' status as it has been for my other accounts. Is this incorrect? The way TSB letter reads is as if they will continue to put a default mark on my account monthly for the 6 years.
Can anyone shed some light on what I do next?
Thank you
Wondering if anyone could shed some light on if I am right or have misunderstood.
I was made bankrupt in May 2016, discharged December. (Scotland) Included in this was a TSB account. I have been working through the credit rating clean up file sticky and had sent them the appropriate letters, as tsb have logged me for Default every month since May 2016 whilst the rest of my accounts have updated to settled or satisfied. Letter was followed by months of 'We're still looking into it..." letters. I then eventually got to talk to someone on the phone who assured me it had been resolved, and I was sent a letter to say it had been resolved too. All good - even if it had taken well over a year!
However my rating has still not been updated since and last week I received a new letter which states
"We are aware you declared yourself bankrupt in May 2016....Although you may have been discharged from the bankruptcy, the default will remain on your credit file for 6 years with credit reference agencies." and goes on to say they are correct and the information is right.
It was my understanding that the default would be changed to a 'Settled' or 'Satisfied' status as it has been for my other accounts. Is this incorrect? The way TSB letter reads is as if they will continue to put a default mark on my account monthly for the 6 years.
Can anyone shed some light on what I do next?
Thank you
0
Comments
-
It's not clear what your report shows.
You say your rating hasn't been updated - do you mean the pretend credit rating/score? Or do you mean that there are still default markers post bankruptcy?
Their letter doesn't say that a default will be added for 6 years. It says that default markers stay on your account for 6 years.0 -
Hi there, Thanks for quick reply!
When I go onto Noddle there is a financial account information section, it shows you a monthly breakdown of your accounts. In this TSB are showing as an open account that has a default every month until now. For my other accounts, they have moved into the Closed Accounts section and the status is either Settled or Satisfied, not a current default. So I can understand having the default originally, but not that it is ongoing if that makes more sense?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards