Discussions on life after your bankruptcy discharge.

Moderators: TalbotWoods, JaneClack

By adrianfo
#468133 Hi
Cleaning up my files,
Equifax shows that a loan from Northern Rock is "Status Settled."
Experian show the same loan last updated 21/11/10 with a current balance of ££££sss (not settled.)

Experian show my Mortgage with Yorkshire bank as "Status - settled."
Equifax show the same mortgage as "Status - Transaction not received this month" with a default balance of ££££sss but a start balance of £0. This looks like it could be the shortfall after the resale of the house.

Is it normal that one of them sometimes gets it wrong?
Should I read it so:
If one has an account marked as settled then it actually is so. The other just hasn't managed to catch up yet.
If this is the case they are set to drop off my file around January next year so no biggy.

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By TalbotWoods
#468143 Hi Adrian

Hope you are keeping well, unfortunalty you are goign to have to do some chasing up.

Northern Rock has only updated Equifax and NOT Experian. You need to chase them to update ALL Credit Files, Experian, Equifax and CallCredit, and ask them to confirm in writing when they have done this! As it stands anyone looking at the Experian, shows a bad debt that is still live!

With Yorkshire Bank it is exactly the same just this time it is a case of Equifax not having been updated.

Creditors are supposed to make sure all the Credit Reference Agencies are updated, but often this gets overlooked, and each creditor has to notify each CRA as the CRAs are prohibited to share information!!!

By adrianfo
#468163 Hi Tim
Hope you're well also, I'm on the last lap of this BK merry go round - there actually is a light at the end of the tunnel and it feels good!

Thanks for the reply.
Just to clarify. If one of the CR agencies has marked the file as settled, as far as that original lender is concerned the debt is finally settled and thus can't be sold on, even if two of the three CR agencies show it as still active.

If, for example Experian have a settled debt marked as active will it still drop off 6 years after the default date or would they let it run.

If removal is the case, they are due to drop off my file at the beginning of next year. Would it be in your opinion, better to clean up all the CR agencies before the BK falls off or (because I have no immediate plans to apply for credit) just let them die gracefully.

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By TalbotWoods
#468173 Hi Adrian

Never really considered it this way before but yes, if one has been marked as settled then in theory that should be it. This can be taken that they have closed the account off fully, though the haven't notified the other CRA.

I say 'in theory' as I would be more content if I saw at least two marked as settled, that way there is no comeback as a 'Oh that was a mistake'.

But I can confirm that providing the default is in place, then uses the account will fall off the CRF 6 years from the default date.

Now going off to ponder this CRA conundrum .....

By adrianfo
#468303 Thanks Tim.
I'm going to have a go at Yorkshire Bank to see if they will clear the Mortgage Shortfall (?) entry on Equifax, I don't like the look of that one.
That only leaves the NR account which I'm not too worried about at the moment, BUT there are two from Marlin Financial Services to deal with - they bought my two defaulted current accounts from the Yorkshire Bank. The default dates are marked correct-ish but they consistently update the accounts, last updated March 2014. Smells a bit!

Up and onwards

Cheers Tim