Credit reference agency’s misleading

breakthecycleuk

Hi I am a newbie looking for help.
I have an account with NCO europe that was past onto them by capquest.

nco Europe was posting on my credit file saying I was missing payments and in arrears.
after complaining to them and the ombudsman they lied and said I was in arrears despite capquest saying I was not.I have since heard from capquest that I am in fact not in arrears with payments and they are still reporting me as missing payments yet capquest again on email have confirmed this is the case and they can see that I am not missing payments at all.
NCO are lying to cra about my account what can I do?

sourcrates

First off, only the owner of an account can report on it to the CRA`s, so who owns it now ?

You need to understand the difference between contractual payments, payments made in relation to a running credit agreement in order to comply with the terms of that agreement, which are reported to the CRA.

And payments made to debt purchasing companies after an account is defaulted.

Any arrangement you make to repay a defaulted debt is not recorded on your credit file, as the account is in default, it should be marked as "default".

That should show for 6 years.

If the account did not default, but was sold anyway, then the missed payments are correct, as you are paying an arranged sum each month, not the contractual sum.

If the latter is the case, and you need to confirm which scenario is correct, you should complain the account should have been defaulted when you first got into difficulties, its unfair to keep marking your file as "in arrears".