Scottish and English debt laws are different, so if you are a Scottish resident and have questions on debt, then this is the place to post.

Moderators: TalbotWoods, JaneClack

ByGR
#168122 Just received an updated copy of my credit file from Equifax and found a couple of surprises!

I signed a Trust Deed in September 2001.

Completed TD in February 2005, (Following payments to buy out equity in property.)

So, am I correct that all defaulted accounts should have fallen off my credit file in September 2007, (this month), which is six years from the date of signing the TD.

All accounts appear to have done so apart from Barclaycard who have registered the default as November 2001. Not a problem, I can send them the letter provided in the Information Section relating to Credit Files.

However, what has shocked me is an entry from Max Recovery the debt collection agency. The file reads thus, (as it is written):

MAX RECOVERY (BARCLAYCARD)(I) Credit Card
Terms 0 @ £0 Monthly

Balances
Limit £0
Start £0
Current £+0

Effective Dates
Start
End 10/08/2006

Last updated 14/08/2006

Monthly Status S

WTF is that all about? How on earth can a debt recovery company that I have had absolutely nothing to do with make an entry on my credit file 18 months after I satisfied my TD? Obviously, they appear to working on behalf of Barclaycard, but given that this debt was included in my TD, it just doesn't make sense.

So what can I do to get this corrected? I have already contacted Equifax, but I anticipate that they will throw the ball back into my court and get me to sort it out. I am seriously annoyed as this is going to seriously affect my credit rating until 2012 as every lender will know it is a debt recovery company and alarms will start ringing.
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ByYogi Bear
#168125
GR wrote:I am seriously annoyed as this is going to seriously affect my credit rating until 2012 as every lender will know it is a debt recovery company and alarms will start ringing.

Not necessarily, in fact. Most credit scoring is done by a totally automated process which involves assigning numerical values to data on your CRF and simply looking at whether you've reached the "pass mark". A satisfied account with zeros in won't make any real difference one way or the other: prospective lenders don't routinely get to see the names of the existing companies when they do a credit check.
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ByTalbotWoods
#168129 Stop panicking!!

Max have input the details from the info that they have been given from Barclays, and it has been shown time and time again the Barclasy don't give a damn about you post Bankruptcy/Sequestration/IVA/Trust Deed.

What you need to do is contact Max directly and you will be very very surprised how good they are at updating your records.

Several people have had hissy fits over Barclays passing incorrect information to Max, and after contacting Max these self same people have had everything sorted within about a week or two.

In this instance Max are not a Debt Collector, they are a debt Buyer, who buy out most of the insolvent debts in the UK, and oddly though it seems make a good living out of it. So no they are not working on behalf of Barclays, they will own the debt outright.

So call them on 0845 498 3938, or write to them at:

Max Recovery Ltd
Eversheds LLP
Fairfax House
Merion Street
Leeds
LS2 8HE

And once again I will emphasise that they will sort this out for you once they are given the correct information.

Oh and when this happened to me after I had sorted out my CRFs, Max took a total of 48hours to sort it!!!

Tim
ByGR
#168138 Thanks for the info folks. :)
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