Information to help you deal with your CRF's

Moderators: TalbotWoods, JaneClack

By DARIUS
#219237 All my CRF are showing partial settled. What does it mean?? Will they drop off the CRF after the said six years???

I have just had a letter from RBOS, saying that as they are a sensible lender, then, as my debt had not been paid off, then they can only mark the account as partially settled, and this will go from my date of discharge.

I am well pleased that they have marked the account, but a little confused as well.

Any help gratefully received.
User avatar
By TalbotWoods
#219241 This is since Jan 2007

Due to an agreement or ruling by the Information Commissioner regards marking accounts as Settled or Satisfied or to indicate in another way that you have fulfilled your obligations to that lender, it is now allowable for former creditors / DCA's to mark the files as "partially Satisfied or Settled" and it is permissible for them to do this by adding a "note of correction."

If they choose to add a "note of correction", then this has the effect of automatically stopping automatic credit scoring, and the scoring has to be done manually.

Some creditors will still mark the account as fully settled or satisfied, others will mark it as partially settled or satisfied, and others will add a note of correction, this is now in line with the agreement by the IC and there is no appeal against this unless you can show that the account has been settled in full.

But on the plus side, with all account marked the date of the bankruptcy all will drop off on the 6th anniversary of the bankruptcy.

Please note that this will not stop former bankrupts or IVA holders obtaining facilities after discharge, but it will make it harder if notes of correction are present

Tim
By DARIUS
#219260 Thanks for your reply Tim.

If they are going to put a notice of correction on my file, would they have told me that in the letter that they sent to me????

And if they do put a notice of correction, does that fall of your file??

And one more question, what does automatic and manual credit scoring mean???

Sorry for so many questions, but it's a mine field!!!!

Thanks again for any advice