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Defaults on credit file ...

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(@peter87)
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Joined: 5 months ago
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Good Evening. Looking for some advice please. I entered into a sequestration back in 2019. I noticed today that I still have a loan showing as active and shows as a default payment each month (screenshot attached) [Admin note - attachment removed]

Cam someone advise if this is normal or not and when this loan company will be removed from my credit file please?

This topic was modified 5 months ago 2 times by Kevin Mapstone

   
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 tigh
(@tigh)
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Joined: 4 years ago
Posts: 54
 

I'm presuming this was included in your Sequestration!     If so, then send a letter of complaint to the company, with a copy of your Sequestration Discharge date, and state the information you see recorded on your credit file is wrong  (If you check out the other post Credit File after being discharged, there's a letter been posted you could use the wording from).

We also went through a Sequestration in 2019, and was discharged in 2020, and I had a similar account showing on a credit reference agency, and it was corrected after I contacted them.    

Hope you have a similar outcome.   Good luck


   
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(@peter87)
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Joined: 5 months ago
Posts: 2
Topic starter  

@tigh Thank you for your response I contacted M&S bank and got this back...

We have checked our records and the default date is registered as 24 October 2019. If this date is incorrect please send over to us a copy of any correspondence showing the correct date and we can amend our records.

 

As with any type of bankruptcy, please be aware this will continue to show on your credit report for 6 years from the date registered.

 

Is this correct? It shows as a default every month on my credit report. Will this continue to do this for 6 years? They are right about October 2019.

 

Thanks.

 


   
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 tigh
(@tigh)
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Joined: 4 years ago
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Hi Peter87

When I had our credit files checked after our Sequestration, I sent a copy of our 'Form5' giving the date of Sequestration discharge, which was approx 1 year after we completed all of the paper work.   Although the payments still continue with your Trustee for approximately 4 years, the debt to the companies that were included in the Sequestration is completed from the discharge date on your Form 5, so the company can mark your credit file as either Partly Satisfied/Satisfied or Closed,     If they are still recording as a default and you have given them all the information to prove your discharge in 2020 (I'm presuming), then I would take your complaint to the Ombudsman.

 

I hope this helps


   
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