Someone's else's loan has appeared on my credit file.

alanwaken

Hey guys, grateful for any help here.

I received a letter on Saturday from a debt management company asking me to arrange repayment of a loan to a company I've not heard of or used (Loans2Go). My name is spelled incorrectly on the letter and they said they've contact me before asking for repayment - they haven't.

I logged onto ClearScore and it says I've missed every repayment on this loan since early 2020 and experian now shows my credit rating as 'very low'.

I phoned the company this morning and after confirming that my details do not match those of the loan owner, they believe it's a 'miss trace' and they've attached it to the wrong person. They asked me to email in a screenshot of my credit file and said they'll pass it to the team that might be able to help, but couldn't confirm if they could remove it from my credit file and how long it might take.

I'm not sure what to do next, can I contact the credit agencies themselves to have it removed? I'm expecting to take out a loan on 20th September from my bank, I'm fearing this might cause issues with that.

Thanks

Ebe_Scrooge

alanwaken said:

can I contact the credit agencies themselves to have it removed?

No, the reference agencies cannot amend the data, they only report on the data supplied to them from lenders.  You'll need to contact the loan company and get them to issue a correction to the CRA.

Browntoa

I'd also make an official complaint to them about it

https://loans2go.co.uk/complaints-data/

If you are unhappy about their final response then take the matter further 

tifo

Ebe_Scrooge said:

No, the reference agencies cannot amend the data, they only report on the data supplied to them from lenders.

Amazing how credit ref agencies never take responsibility for the data they process.

[Deleted User]

tifo said:

Ebe_Scrooge said:

No, the reference agencies cannot amend the data, they only report on the data supplied to them from lenders.

Amazing how credit ref agencies never take responsibility for the data they process.

The lender has given them the incorrect data but you can still complain to the ICO about them

Ebe_Scrooge

tifo said:

Ebe_Scrooge said:

No, the reference agencies cannot amend the data, they only report on the data supplied to them from lenders.

Amazing how credit ref agencies never take responsibility for the data they process.

I think that's a little harsh.  I don't think the CRAs could realistically be expected to carry out lengthy verification and cross-checking procedures on every one of the millions of data items that are given to them each month.  They merely consolidate and report on the data that is supplied to them by the lenders.

Of course mistakes can happen - it's an unfortunate fact of modern life.  But the fault lies with the lender, and it's them who you need to contact to get the error corrected - or escalate, as mentioned above, if they don't take your complaint seriously.

sourcrates

alanwaken said:

Hey guys, grateful for any help here.

I received a letter on Saturday from a debt management company asking me to arrange repayment of a loan to a company I've not heard of or used (Loans2Go). 

I'm not sure what to do next, can I contact the credit agencies themselves to have it removed? I'm expecting to take out a loan on 20th September from my bank, I'm fearing this might cause issues with that.

Thanks

Stay off the phone for starters.

When you state "debt management company" I think you really mean debt collector, don't you?
Is it the debt collector reporting your information, or the alleged creditor, loans2go?

It`s important as it will identify who owns the debt, as it may have been sold.

CRA`s only report the information given to them, complaining to them would be pointless, you should send a written complaint detailing your dispute, to the original creditor who say the loan is yours, you should also CC in a copy to the debt collector as well, so they know a dispute exists, and should place a hold on collection activity.

Companies have 8 weeks in which to issue you with a final response, after that time, if you remain unhappy, you can get the financial ombudsman involved.

Good hunting.