Discharged from Bancruptcy

[deanevans]

I have asked citizens advice for assistance but they have never herd of this before


I went bancrupt on 23rd August 2010 with natwest bank account and credit cards for £51,000
after losing my job.
And was discharged on 23rd August 2011.


I have a dischard certificate from the court.


Natwest bank say settled but nat west credit card still has me down as - £8,898 balance
And every month from September 2010 to August 2015 (now) as DF (Default).


I rang the bank and they said that is to remind you how much you owe and its not going to be removed.


How can i ever repair my credit rating if this stays like this
Experian and Equifax both say the same £8,898 balance (Default)
What should i do?

[nemesis45]

Re: Discharged from Bancruptcy

I have asked citizens advice for assistance but they have never herd of this before


I went bancrupt on 23rd August 2010 with natwest bank account and credit cards for £51,000
after losing my job.
And was discharged on 23rd August 2011.


I have a dischard certificate from the court.


Natwest bank say settled but nat west credit card still has me down as - £8,898 balance
And every month from September 2010 to August 2015 (now) as DF (Default).


I rang the bank and they said that is to remind you how much you owe and its not going to be removed.


How can i ever repair my credit rating if this stays like this
Experian and Equifax both say the same £8,898 balance (Default)
What should i do?

Good moring Dean,

The loan has been marked "settled" but not the CC account?
What is the default date on the credit card account?

The credit file entry will be removed on the 6th anniversary of the default date, this happens paid or not.

Nem

[deanevans]

Re: Discharged from Bancruptcy

Both bank and card went to court at the same time all in one on 23rd August 2010.
Same Bank and same credit card same day.
And i don't know why they are treating this diffenently.

They are not chasing me for the money just making sure it stays on my record fresh every first of the month as a new Default.
I know the 6th year anniversary is 23rd August 2016
but if it stays until then (23/08/2016) won't the last entry then stil last another 6 years.
I know they are punishing me but i don't know anyone else this is happend to.

Any idea what i should do?

[FlamingParrot]

Re: Discharged from Bancruptcy

I have asked citizens advice for assistance but they have never herd of this before

I went bancrupt on 23rd August 2010 with natwest bank account and credit cards for £51,000
after losing my job.
And was discharged on 23rd August 2011.

I have a dischard certificate from the court.

Natwest bank say settled but nat west credit card still has me down as - £8,898 balance
And every month from September 2010 to August 2015 (now) as DF (Default).

I rang the bank and they said that is to remind you how much you owe and its not going to be removed.

Actually, that isn't true, you don't owe them anything, like it or not, that was the whole purpose of your bankruptcy, to wipe the slate clean. They are allowed to leave the default in place as it reflects your conduct with the account even though the money is no longer owed.

They are not chasing me for the money just making sure it stays on my record fresh every first of the month as a new Default.
I know the 6th year anniversary is 23rd August 2016
but if it stays until then (23/08/2016) won't the last entry then stil last another 6 years.
I know they are punishing me but i don't know anyone else this is happend to.

Any idea what i should do?

As long as the default date is correct (i.e. in 2010), then there isn't much to do until next year. :ranger: If the default stays on past its sell by date, then you can quote the reporting principles to get the record amended.

[deanevans]

Re: Discharged from Bancruptcy

ok thank you

[nemesis45]

Re: Discharged from Bancruptcy

Both bank and card went to court at the same time all in one on 23rd August 2010.
Same Bank and same credit card same day.
And i don't know why they are treating this diffenently.

They are not chasing me for the money just making sure it stays on my record fresh every first of the month as a new Default.
I know the 6th year anniversary is 23rd August 2016
but if it stays until then (23/08/2016) won't the last entry then stil last another 6 years.
I know they are punishing me but i don't know anyone else this is happend to.

Any idea what i should do?

No there is no debt.

All defaulted accounts are removed on the sixth anniversary of the default date paid or not.

nem

[Nibbler]

Re: Discharged from Bancruptcy

If it is not marked as satisfied or a partial settlement as of your discharge date, then you can demand that they mark it as such.

However, as said as long as the default date is correct then the whole account and entire history will be removed 6 years from that initial default date regardless.

If you want to demand that the satisfaction or partial settlement is backdated to the discharge date then there is a template here.

-> http://forums.moneysavingexpert.com/...41#post7834441

This late in the game though, it may not be worth that much effort to sort.

[deanevans]

Re: Discharged from Bancruptcy

thats a weight off my mind
thank you

[Debt Camel]

Re: Discharged from Bancruptcy

It is correct that it will all disappear from your credit file after 6 years from the default date.

But that is a year away. I think you should try to get the debt marked as settled / partially settled with a zero balance showing. getting rid of this may make it easier for you to start the 'credit repair' process by applying for a "bad credit" card. And it also means NatWest will have to update their system so that it doesn't look as though you owe any money (which you don't!) - this means it's less likely your debt will be sold to a debt collector which would give you a new amount of hassle to deal with at some point in the future. See http://debtcamel.co.uk/credit-file-after-bankruptcy/ for template letter and more info.

[Nibbler]

Re: Discharged from Bancruptcy

All good points that I agree with. If it was me, I would do just that.

[deanevans]

Re: Discharged from Bancruptcy

Thank you ever so much you are stars