Information to help you deal with your CRF's

Moderators: TalbotWoods, JaneClack

By dancov
#186715 Hi all,

Just started to get responses from former creditors re : credit file clean-up.

Couple of questions if I may??

Royal Bank of Scotland have replied to my letter stating that they can't mark the account as 'satisfied' or 'settled', but will mark it as 'partially satisfied'. I understand under the new ruling that this is infact correct.
They go on to say that they will mark it as 'partially satisfied' from the date of DISCHARGE. Is this correct, or should it be marked from my BR date?

Many thanks
User avatar
By Yogi Bear
#186716 RBOS are correct on both counts, yes. :)

As far as the date goes, it can be any date between the two, but mustn't be later than the date of discharge.
By dancov
#186723 Thanks Yogi, but does this mean the record from RBOS won't fall off my file until my discharge date?

Also should a remaining balance still show on the file if it is marked as 'partially satisfied'? i.e. should £18,500 outstanding stay on my file for 6 years?

Thanks
Daniel
User avatar
By TalbotWoods
#186728 Hi Daniel

Yes they are correct in what they are saying, but (And this one I like) recent small print in both Eqifax and Experian terms and conditions say that in bankruptcy, the account will fall off 6 years from the date of the original default or the settlement date (partial Settlement date), which ever occurs first!!

So assuming the default was the date of your bankruptcy, and the account was marked partially satisfied with a debti balance of £18500 on AD date (one year later) Eperian and Equifax are indicating that the account will fall off from the date of the default (i.e. 6 years from bankruptcy and not six years from discharge).

Unfortunately we haven't been able to test this out yet, as no one has yet achieved the 6 years since bankruptcy under these new T&C's, but at least there is light at the end of the tunnel.

I am awaiting confirmation of this, so it may then lead us to having to chase the original creditor soon after bankruptcy to get them to mark the account account defaulted, and then chase again after discharge to get the account marked as settled, however from what i have been able to see most are automatically marking the default and then amending it to settled, but this still leaves the default signature there for the CRFs to act on (we just cant see it!)

Tim
By dancov
#187095 Thanks Tim,

The default date is June 2006, which is 6 months prior to my BR. So hopefully this will fall off 6 years from June 06!!

Oh well at least I should be grateful that they have done what they are required to do.

Thanks
Daniel