Hello bighibee2000.

Banks report to the credit reference agencies.

It's then up to the agency to update your credit file based upon that information from the bank.

I am a little confused by the answer and would appreciate clarification.

Bighibee2000 - did RBS tell you in writing or otherwise that they have notified the credit reference agencies?

I thought the letter had to be sent to the Creditor (which you did) and they were required under the Data Protection Act to ensure dates and entries were accurate. Are they saying they notified the credit reference agencies and the agencies have not updated your file?

I understand they should notify the Agencies, but how would we know if the Bank / creditor has told the Agency?

I am in the process of getting my entries corrected. It is a slow process and I expect to achieve it before the Trust Deed 'drops off' my credit file.

I have written to 3 of the creditors twice and it is still showing as default. One of the other creditors did move it to 'satisfied' status but the default date is inaccurate and will not drop off for 6 months after the Trust Deed, so I am having to write again for that.

I had a financial link showing with my former husband whom I divorced 15 years ago. it should have been removed 15 years ago and it was an administrative error. It took 2 letters to the bank, 2 disputes to the Credit Reference agency over 3 months and now further letters / disputes to the other two reference agencies. One of three has now removed the link. One is investigating and I am communicating with the third at the moment.

I say this to let you know it is not always such a simple process but the good news is that there is time to get it done before the Trust Deed falls off!

The letter templates and guidance here were a great help. I was just a bit confused by the response by TDA to your question on this occasion.

I think we're saying the same thing Firewalker.

For most credit entries you need to persuade the bank to ask the credit reference agencies to update a file.

Probably a stupid question, but if the bank update the credit reference agency and they update their file, does this increase the chances of getting credit and if so, what is the point of it being on your credit file for 6 years.

Mark

I guess it's just information for a potential lender to use as they will Mark.

Different lenders prioritise different historical information when taking their view on how profitable you're likely to be for them.

Ah! Kind of makes sense. I suppose then it provided up to date information to allow them to make a decision.

Mark

Thanks for the response TDA.

I followed the advice and templates on here with the letters requesting my information is updated in accordance with Data Protection Act. And I believe if they do not carry that out, I can revert to the ICO.

However, your answer has prompted another question ...........
If my credit reference file is marked that the Trust Deed is concluded/discharged, then if the lender/creditor does not act to change the record/dates, are the credit reference agencies able to correct the dates and add 'satisifed' based on our request? Or must that come from the lender/creditor?

Thanks.

I don't know for sure Firewalker, but I think it has to come from the creditor.

As i have now started looking at my credit file all i have done is contact them by phone to get the correct procedure however the 3 folks on the phone said it has nothing to do with RBS to correct the information.

I have queried the issues with noodle and hopefully they will give me a bit more info.

What are the correct procedures should it all be done in writing or can this be done by phone-calls?

Hi Bighibee

I would appreciate if you would let me know the feedback you get.

I am now genuinely confused. Perhaps I have had a brain melt and have misunderstood something completely, however, I thought the template letters recommended on here indicated that in accordance with the Data Protection Act the creditors were obliged to ensure the information they provided to the Credit Reference Agencies was correct, and that the letter was asking them to update it as satisfied or partially satisfied within 29 days, otherwise, or I would refer it to the ICO (I think it was ICO without me looking it back up again).

If I am reading this thread correctly, then the lender/creditor does not need to do anything and the Credit Reference Agency is required to updated it.

In a previous thread I had, the response was that there is no automatic update from Trust Deed being completed.

I can imagine Noddle, Experian and Equifax saying that they cannot change the details because they are given by the lender/creditor and they (lenders) are required to notify them of the correction.
"going round in circles and getting nowhere" comes to mind.

Anyway, I am keeping in focus that the Trust Deed and the Defaults fall off after 6 years (am I correct with that?), so even if the dates are incorrect and are six months beyond that, they will fall off eventually?

Sorry, for this long post, however, it seems to me to be contradictory information (as I interpret it anyway).

Your feed back would be welcome bighibee. Thank you.

Hi Firewalker.

I think there is some miscommunication and misunderstanding here. As I see it, this is what needs to happen:

1 - You discover an error on your credit report that you want to be corrected.

2 - You ask the financial institution that provided that information (the creditor) to contact the credit reference agency so that the information can be corrected.

3 - If this doesn't happen within a reasonable period of time you may wish to invoke the complaints procedure at the financial institution (which presumably has supplied incorrect information to the credit reference agency - or at least has failed to request that an error gets updated).

4 - If the matter goes through the entire complaints procedure at the financial institution without being resolved you may wish to take your complaint to the Information Commissioner. If they agree with you they may require the financial institution to instruct the credit reference agency to update your credit file.

You are correct that anything reported on your credit file stays there for six years.

Bighibee2000 - I believe banks are required to accept complaints in writing or by telephone. Writing obviously has the benefit of providing you with a record of what has happened.

RBS took over three months to update mine - but did so within 10 days once I chased them.

Thank you for taking the time to detail that answer TDA. That is what I thought the process was and what I am following. The earlier replies in the thread did not seem to reflect that as I interpreted them.

Much obliged.

Good to hear your account was updated Tanyad.

Hi

I received this information from Noddle. It will confirm much of the the posting, but thought you would like to see their take on it. I do not know if Experian and Equifax would take exactly the same approach.
[:)]

Thanks for your email and I can completely appreciate your confusion.