Can they do this to my credit file?

onmywaytozero

I had an old debt which was owed to Vanquis, for £2.5k. It had fallen off my credit file.

It had been sold to Lowell some time ago. I've just checked my credit file and my rating dropped 120 points(!) as there's a new entry on there.....a default issued by Lowell. They are listed as being the credit card issuer (which is complete nonsense obviously as they are not a bank) with a default date of 2017 (again, wrong) but it only gives a payment history for 2019 (again, they don't have anything further back than this as not being a financial institution they won't have one).

My question is, can they do this? I suspect they've done this to 'reset the statute barred clock' but I'm also concerned that they are now passing themselves off as a financial institution.

Ive raised a concern with Transition but is there anything else I can do?

[Deleted User]

They can add it if they use the correct original dates.

When did it originally default?

PRAISETHESUN

You need to complain to Lowell. Be careful how you approach this however, as any contact may be seen as "acknowledging" the debt which can have implications if it isn't yet statute barred. Send them a "prove it" letter and if the information they provide suggests that it is barred then you need to formally complain asking them to remove the false information from your files. Complaining to the CRAs isn't likely to get very far since they can only report the information being sent to them - you need to correct the incorrect info at the source.

Willing2Learn

onmywaytozero wrote: »

I had an old debt which was owed to Vanquis, for £2.5k. It had fallen off my credit file.

It had been sold to Lowell some time ago. I've just checked my credit file and my rating dropped 120 points(!) as there's a new entry on there.....a default issued by Lowell. They are listed as being the credit card issuer (which is complete nonsense obviously as they are not a bank) with a default date of 2017 (again, wrong) but it only gives a payment history for 2019 (again, they don't have anything further back than this as not being a financial institution they won't have one).

My question is, can they do this? I suspect they've done this to 'reset the statute barred clock' but I'm also concerned that they are now passing themselves off as a financial institution.

Ive raised a concern with Transition but is there anything else I can do?

You mean TransUnion yeah? As well as checking your TransUnion credit file, you also need to check your other two files with Equifax and Experian.

!!! wrote: »

They can add it if they use the correct original dates.

When did it originally default?

This is the right question. What date did Vanquis default the account?

boo_star

onmywaytozero wrote: »

I had an old debt which was owed to Vanquis, for £2.5k. It had fallen off my credit file.

It had been sold to Lowell some time ago. I've just checked my credit file and my rating dropped 120 points(!) as there's a new entry on there.....a default issued by Lowell. They are listed as being the credit card issuer (which is complete nonsense obviously as they are not a bank)

Splitting hairs but it's not really saying they're the issuer, it's saying that it is a credit card account and they are the owner of the debt.

with a default date of 2017 (again, wrong)

So when did it actually default?

but it only gives a payment history for 2019 (again, they don't have anything further back than this as not being a financial institution they won't have one).

No, they would be able to report back the full six years, they simply get the data from the original creditor and report that.

My question is, can they do this? I suspect they've done this to 'reset the statute barred clock'

What about the "payment history" they're reporting in 2019? Did you actually pay them anything? I don't think they're trying to reset the time limit, per se. At least not by changing history. More likely they're trying to get you to write to them and acknowledge the debt and reset it that way.

but I'm also concerned that they are now passing themselves off as a financial institution.

Don't be, they're not.

Ive raised a concern with Transition but is there anything else I can do?

Needs more information.

When did the debt actually default (or at least what was the original default date set by Vanquis)?

Have you been paying them at all, if so when?

onmywaytozero

It was 2015.

Its the first time I've ever heard of a debt collection company ever adding itself to a credit file though - its usually the original lender that's on there. Or have things changed?

Ben8282

but it only gives a payment history for 2019
Have you been making payments to the DCA during 2019?

[Deleted User]

So the debt is still valid until sometime in 2021.

And yes if a DCA buys the debt they can report it so longs as they meet the requirements above (the balance, original default date etc.).

boo_star

onmywaytozero wrote: »

It was 2015.

The default date? If so it shouldn't have dropped off your file at all.

Its the first time I've ever heard of a debt collection company ever adding itself to a credit file though - its usually the original lender that's on there. Or have things changed?

When a debt is bought it's absolutely standard practice for the original creditor to close the account and a new (basically identical one) to appear in the name of the debt buyer.

onmywaytozero

Yes, TransUnion (darn autocorrect!)

Correct default date is December 2015, with nothing paid since then.

Willing2Learn

So the account will be automatically removed from your credit files in December 2021...