Wrong Credit Report

charjo75

I have recently been turned down for credit so I checked my experian report and was horrified to find old car credit on my report. I ended a deal with Renault in January 07, but it appears I am still on their system and this has obviously shown up on my report. I called Renault and they said i had to send a copy of the report and they will clear it. This has obviously seriously affected my credit adn left me worse off since I haven't been given good deals/0% cards etc.
I will write to experian and renault, but is there anything else I could/should do?

immoral_angeluk

Did you default on the car finance? Why do you think it'll have seriously affected your rating?

LilacPixie

I'm confused When you say its still on your report do you mean the settled account still shows???

charjo75

The account was closed - i gave the car back. Renault are in the wrong - they have kept my account open. Plus, they never sent any chasing letters so I was completely unaware

poorandindenial

What shows on the report??

If it is just on there as settled and closed on the date you closed then it will show like this for 6 years.

Do you have any other credit? If so it may be that you have too much spare credit available and lenders don't like this because to give you more means that you have the ability to overstretch yourself. Have you moved recently? Are you onthe electorol register? these things can also impact your credit report.

There are lots of factors that might affect it. Can you tell us a bit more about what credit you have and the current balances??

charjo75

It's saying that I owe £3500 so it's stating no payment etc. Renault have said to write to them and they'll change it on my report and tell Experian, but is there any comeback/compensation that I'm entitled to?

LilacPixie

nope. you termintated the agreement (i presume) envolving a clause in your HP contract. renault have offered to correct the file.

I would say there is no comeback or compensation due to you as even with your credit file showing a VT there is no guanrentee you would of been granted credit. many lenders are a little wary of VT's