Clarity in default reporting

Mckenna

Hoping to get some clarity on how these are reported as it seems every lender does it differently! 

In Sept 21 I went bankrupt.
some lenders reported accounts satisfied in sept 21 (which I thought was correct) 

some lenders continued to report the accounts as being in default until Sept 22 (when bankruptcy is discharged) 

I think this second approach is incorrect? As does that not mean that those that continued will effectively mean it’s on my file for an extra year? When they should all drop off after 6 along with the bankruptcy? 

There also appears inconsistency with the agencies themselves- a single lender has marked accounts satisfied in September for Equifax and October for Experian? 

In the process of looking at mortgage options so I’m trying to work out if I need to raise issues 

sourcrates

Nope, after six years all entries will be automatically removed no matter how or when they were marked as satisfied.

Your bankruptcy date should be the date of default, or earlier, and six years after that they will be gone regardless of when they were satisfied.

dumpster_fire2025

Mckenna said:

Hoping to get some clarity on how these are reported as it seems every lender does it differently! 

In Sept 21 I went bankrupt.
some lenders reported accounts satisfied in sept 21 (which I thought was correct) 

some lenders continued to report the accounts as being in default until Sept 22 (when bankruptcy is discharged) 

I think this second approach is incorrect? As does that not mean that those that continued will effectively mean it’s on my file for an extra year? When they should all drop off after 6 along with the bankruptcy? 

There also appears inconsistency with the agencies themselves- a single lender has marked accounts satisfied in September for Equifax and October for Experian? 

In the process of looking at mortgage options so I’m trying to work out if I need to raise issues 

Realistically none of this matters. Bankruptcy is a massive red flag so regardless of how the accounts have been handled in terms of satisfying them, this will all pale into insignificance compared to the fact that you've been declared bankrupt.

If a lender is willing to lend to you they're going to be smart enough to understand that those debts are now "satisfied" by virtue of your bankruptcy. I wouldn't go to all the trouble of trying to convince one group of lenders to report in line with the others, there really isn't any point.