Credit report clean-up, post DRO

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matilda.cs
matilda.cs Posts: 260 Forumite
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in IVA & DRO
Hello,

My DRO came to an end last week, and I’m not looking at fixing my credit report details.

Is the process and are the letters exactly the same as the BR clean up?

Thanks,

Matilda

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  • National_Debtline
    National_Debtline Posts: 7,998 Organisation Representative
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    Hi Matilda


    The main things to look at on your credit file are the debts included in the DRO show nothing is owing (although the debts do not have to be showed as fully satisfied/settled) and the defaults are all registered no later than the date of the DRO.


    There's a really useful guide to cleaning up your credit file after a DRO here https://debtcamel.co.uk/repair-credit-record-dro/, including sample letters you can send to creditors.


    Best wishes


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • matilda.cs
    matilda.cs Posts: 260 Forumite
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    Thank you Susie. Everything is still showing as !!!8220;default!!!8221; and full balance still owing, but a new credit report is due in 6 days with Noddle so I!!!8217;ll see if that looks different. I assume I!!!8217;ll need to do some kind of clean up, still. So I!!!8217;ll just send letters while I!!!8217;m on holiday from work, for peace of mind.

    Will the account move from !!!8220;open accounts!!!8221; to !!!8220;closed accounts!!!8221;, on my credit report?

    If not, do I need to close them somehow?

    Thanks

    Matilda
  • National_Debtline
    National_Debtline Posts: 7,998 Organisation Representative
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    Hi again Matilda


    Your credit file is updated once a month, so given how recently your DRO came to an end it's not surprising that the information has not yet been updated. I'd suggest giving it another month or so and if the information is still wrong, raise it with the creditors.


    Make sure the defaults are registered no later than the date of your DRO and the balances are showing as zero. As you will no longer owe the debts you would expect the accounts to be closed. Your debts will be removed from your credit file 6 years after the date of the default, and the DRO drops off 6 years after it started.


    I hope this helps


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • Craig1981
    Craig1981 Posts: 769 Forumite
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    bear in mind defaults will remain on your credit file for 6 years form date of 1st default
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