Information to help you deal with your CRF's

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Bydoemichael
#238553 Looking a little advice as to where to go with this.

May 2005 entered IVA
May 2008 F&F and IVA finished
Feb 2009 Completion Certificate recieved and " credit fiel clean up " started.


Included in my IVA was a debt with Citi. In May 2009 I recieved a letter from them saying they had changed my default date to May 2005 ( date IVA started ) and they had updated my credit files, which they did. The debt showed as £0 balance, default date May 2005 and debt settled.

Now in September 2010 I recieved letter from Citi saying they had sold debt to Cabot and a letter form Cabot asking for the balance that was wiped off with IVA.

I contacted Cabot in September and again in October and sent letter, IVA completion certificate and copy of credit file explaining this debt was not owed. On the telephone they agreed this money was not owed and saif that Citi had sold a number of debts that where satisfied, my IP also confirmed they ahd a number of calls the dame day I rang with other people also getting this letter to say Cabot had bought the debt and by reading another forum I know this was a problem for a lot of people.

Now today 6 weeks after last speaking to Cabot I checked my credit file and Cabot have put a defualt on my file in October for this debt. I am so mad after all the hard work getting credit files sorted there is now a default on it again.

so my question now is "who do I contact about this"

Citi who sold a debt that was cleared and complain to them or Cabot who I have already asked to sort it and although they said they had they have not. Can I go direct to the credit reference agencies and ask them to remove the default ?

Sorry for the long post just cannot really do with the hassle of this.
User avatar
Bysubmariner
#238655 I had precisely that happen to me... Citi showing everything satisfied post my IVA and then Citi recently selling debt to Cabot, who then put a big current balance and default on my credit file. (On Equifax they appeared as "Kings ...(something?)", but upon enquiry it turned out to be the same company)

I'll give you the good news straightaway, it's all sorted... and all done by talking to Cabot, who turned out to be absolutely fine to deal with (if needing a bit of a prompt).

Like you, when I originally contacted Cabot telling them the debt was subject to a completed IVA they were apologetic etc, saying that I would never hear from them again; but I forgot that they would probably put something on my credit files.

Like you, when I found the credit file defaults, on the right date at least..., and positive balance, I was somewhat annoyed (to put it mildly!... it was my only non-satisfied account on both Equifax and Experian).

I rang Cabot to request the change back to "satisfied" and zero balance: they were helpful, looked at my credit files, saw the IVA completion and agreed that they would change my files within a few days.

After two or three weeks, nothing had happened (I have Equifax and Experian accounts at the moment). I thought I was now in for a paperwork "battle", but rang them again. This time they really did sound extremely apologetic and said they would sort it straight away... and they did, within a day of the second call!

So take heart, keep polite but keep at them and I think you'll be fine.

Best of luck :)
Bydoemichael
#238685 thanks for reply

I rang Cabot yesterday and once again they were apologetic liek you say , I did recieve a email today from them saying they would update credit file immediatly as they aknowleged I do not owe this moeny as it was contained within the IVA. They said to give it 3-4 dyas to update.

I really hope they remove all trace of this not just marke it as satisfied as the debt is already on my file as owed to Citi, defaulted and satisfied. So I believe the same debt cannot be on there twice???

I am just annoyed that they put this defualt on even though in September they siad they knew I did not owe this money after I sent them completion certificate etc.

So guess I will have to get ANOTHER copy of credit files next week to make sure this has been removed.
User avatar
Bysubmariner
#238695 Ah, I hadn't realised that your Citi one was still there - they (Citi) removed their account on my files at more or less the same time as the first Cabot letter arrived. As you say, this account should only be showing once, now from Cabot alone.

I must admit that it is very useful to have Equifax and Experian on line at the moment. Although a little expensive, for the last few months it's saved loads of time (the most precious thing, as I work full time and have a family), printer ink, envelopes and stamps while sorting out my credit files. They send alerts whenever a file changes, so it's very easy to track corrections. I had just got to where I wanted when this blooming Citi/Cabot sale happened a few weeks ago. I hope no-one else does this... our IVA completion certificates give total protection, of course, but it's still a right old pain to get back to correct defaults and zero balances again (as you know!) :roll:

I suppose you may have to get in touch with Citi, to get their file removed, but, just thinking aloud... Cabot may be prepared to help by asking Citi to remove their entries. Can't do any harm to ask...

At least it's not too bad talking to Cabot is it? They're one of the best to deal with this end of the exercise. Some people may not believe that, but post IVA is a nice place to be!!!

Best of luck anyway.
Bydoemichael
#238705
submariner wrote:Ah, I hadn't realised that your Citi one was still there - they (Citi) removed their account on my files at more or less the same time as the first Cabot letter arrived. As you say, this account should only be showing once, now from Cabot alone.

I must admit that it is very useful to have Equifax and Experian on line at the moment. Although a little expensive, for the last few months it's saved loads of time (the most precious thing, as I work full time and have a family), printer ink, envelopes and stamps while sorting out my credit files. They send alerts whenever a file changes, so it's very easy to track corrections. I had just got to where I wanted when this blooming Citi/Cabot sale happened a few weeks ago. I hope no-one else does this... our IVA completion certificates give total protection, of course, but it's still a right old pain to get back to correct defaults and zero balances again (as you know!) :roll:

I suppose you may have to get in touch with Citi, to get their file removed, but, just thinking aloud... Cabot may be prepared to help by asking Citi to remove their entries. Can't do any harm to ask...

At least it's not too bad talking to Cabot is it? They're one of the best to deal with this end of the exercise. Some people may not believe that, but post IVA is a nice place to be!!!

Best of luck anyway.


thanks for the info, have just looked at the report I got and Citi is no longer there. I was so busy looking at the Cabot info never even noticed that.

If they just mark as satisfied as they now own the account ( although do not understnad how they can own an account that is paid ) and they do not changed the default date I guess I can ask them to sort that. the defualt date they have on it is only 5 weeks after my IVA started so may not bother.

I had the money access to my reports when I sorted my files out 18 months ago then cancelled the memberships as liek you say expensive. Then again buying £2 reports a few times is expensive as well lol

Cabot were easy to deal with but really hope this does not happen again as do not want the hassle.

Yes I agree post IVA is good, this is our third christmas IVA free :D
User avatar
Bysubmariner
#238725 That's good that Citi has disappeared - we do seem to be following the same path, which bodes well for yours all being sorted too.

Yes, like you, I can't really understand the changing ownership of satisfied accounts, but of course they never meant to buy our type of accounts in the first place. The financial world is pretty topsy-turvy :roll:

I don't know whether I'd bother about the 5 weeks difference in default date (several of my accounts spread over a bit longer than that, but all will clear within a couple of months of eachother - that suits me fine as I never want any more credit anyway!); as you know it's far more important to get the settled/satisfied wording and zero balance, which I'm sure Cabot will do.

This is my fifth Christmas after settling my IVA... I can't believe its been that long now. I still have a good warm feeling about doing it all and have never had to borrow a single penny ever since (not that I could, I suppose LOL! Who cares? Not me or my family :D ).
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