Query regarding Credit Check

[diesel]

I have just recently done a credit check using all the addresses I have been at for the past 6 years and I have two queries.

1st Credit Finance have bought a debt from Lloyds TSB (NOA received) however there is no record of this on my credit report, is it safe to assume that the debt is statute barred? If so what do I need to do?

Also it appears Halifax have sold a debt to Capquest however I havent received any NOA. However both Capquest and Halifax have recorded a default on my account as per below....

Halifax - Date Started 21/2/2006 - Default Date 29/12/2009 - Amount £11323
Capquest - Date Started 21/2/2006 - Default Date 30/12/2009 - Amount £11471

What should i do on this one as well?

Thanks for your time.

[Nibbler]

Re: Query regarding Credit Check

So you have defaults from Halifax and Crapquest at the same time on your report? Two separate entries?

If so, on what CRA are they on? What is the status of the Halifax one? Does it say settled in any way? Does it has a "debt assigned" flag or marker/comment or similar?

[FlamingParrot]

Re: Query regarding Credit Check

1st Credit Finance have bought a debt from Lloyds TSB (NOA received) however there is no record of this on my credit report, is it safe to assume that the debt is statute barred? If so what do I need to do?

No, it is not safe to assume it's SBd just because it's on on your credit file, this is a common misconception that was perpetrated by a well known forum. Many people make payments after being defaulted, there are many on DMPs who defaulted over 10 years ago and are still paying, those debts would have vanished off the credit files years ago, yet they are not SBd.

If all you have received is a NoA, you don't need to do anything at this stage. If 1st Crud start pestering you for payment, you can then send the SBd letter and they'd have to prove it isn't, or leave you alone.

If you want to find out the history of his account, you may want to send a SAR to Lloyds to see if any payments were made in the last 6 years. Was this a loan or an overdraft?

Also it appears Halifax have sold a debt to Capquest however I havent received any NOA. However both Capquest and Halifax have recorded a default on my account as per below....

Halifax - Date Started 21/2/2006 - Default Date 29/12/2009 - Amount £11323
Capquest - Date Started 21/2/2006 - Default Date 30/12/2009 - Amount £11471

Sounds like a duplicate entry, at least the start date is correct and Capquest haven't done as Lowell and entered a new date.

You can write to the CRA highlighting the fact, see below from the ICO Technical Guidance:http://ico.org.uk/~/media/documents/...%20%20doc.ashx

52 When the rights to a debt are sold to a third party, the lender has to make sure the records with the credit reference agency are accurate, up to date and adequate. If they want information about the debts to continue on the credit reference file they will need to come to an agreement with the purchaser about who is to be responsible for this.

53 If the purchaser agrees to take control of the record, the customer should be informed that the debt has been sold or assigned and to whom. The credit reference agency file should be changed to show the name of the purchaser and that the rights to the debt have been sold or assigned. The purchaser should then make sure the record is kept up to date including changes to the amount still owed. The purchase should not affect how long the record is kept. It should be removed six years after the default.

54 Where the purchaser of the debt does not agree to take control of the record, the original lender, and at least in part the credit reference agency, will remain responsible if the original record is kept on the file. When the debt is sold or assigned, the customer will no longer owe any money to the original lender. If the record is not removed, the sale or assignment should be recorded and the balance should be shown as zero. The customer should still be told who the debt has been sold or assigned to.

[Nibbler]

Re: Query regarding Credit Check

Some of the CRAs are now using debt assigned markers on the old entries and retaining them, which is OK (apparently) as it means the duplicates (original) are not seen by anyone credit checking you. ICO has apparently OK'd that and it will be mentioned in updated guidance sometime this year.

On Experian for example they show as "debt assigned to CAIS member" or similar.

So that is why I asked those questions....

Of course if no assignment flag is present, then the situation is as before and duplicates are not allowed.