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Experian - delays updating records
FletchUK
Posts: 2 Newbie
My partner ran up some credit card debts during her divorce but paid them all off in full in December 2020 following the sale of her former matrimonial home. A credit check today (3rd Feb) with Experian is still showing the very high balances on these credit cards. She has phoned the card companies and they confirmed that the balances were cleared in December and the credit agencies were informed on the 6th Jan. My partner then called Experian but - as she is not an Experian subscriber - they would not discuss it with her. They did however say they are behind with updating peoples' records.
This is concerning for two reasons:
1) Why are Experian allowed to provide incorrect information about someone and - unless that person PAYS money to Experian - they will not discuss it with them on the phone?
2) Are Experian allowed to be "behind with updating peoples' records" and do Experian make it clear to the companies doing credit searches that their information may be months out of date and could therefore be unreliable?
I've never had an issue with the credit reference agencies before but I'm starting to think this needs Financial Ombudsman needs to take a look at their practices.
This is concerning for two reasons:
1) Why are Experian allowed to provide incorrect information about someone and - unless that person PAYS money to Experian - they will not discuss it with them on the phone?
2) Are Experian allowed to be "behind with updating peoples' records" and do Experian make it clear to the companies doing credit searches that their information may be months out of date and could therefore be unreliable?
I've never had an issue with the credit reference agencies before but I'm starting to think this needs Financial Ombudsman needs to take a look at their practices.
0
Comments
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If the card companies only updated on 6th then it sounds fine.
The CRAs will validate and update and you'll see it on your next monthly update after that date, as you don't have a real time view.
If it's not updated in next month's, then lenders will see that there was no update and assume a delay or pause in reporting.4 -
Do banks have a real time view of our accounts?Deleted_User said:If the card companies only updated on 6th then it sounds fine.
The CRAs will validate and update and you'll see it on your next monthly update after that date, as you don't have a real time view.
If it's not updated in next month's, then lenders will see that there was no update and assume a delay or pause in reporting.0 -
Yes. But they may not update them in real time.1
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Ahh thanks so I need to wait a couple more months before I apply for a credit cardDeleted_User said:Yes. But they may not update them in real time.0
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