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  • #1

    Rules of keeping CRF balance updated?

    Hi there,

    If an account has defaulted and been sold on - what are the rules on keeping the balance up to date if you've been making payments to it?

    I've a defaulted account and I've been making payments to it and the balance at default was 2230 and now its 1995 - but my credit file just shows 2230 for each month since default. Its (at the mo) a UE account and I'm not paying.

    Is there anything i could do/worth doing?

    Ta!!
    Tags: account, accounts, advice, banks, barclaycard, breach, business, con, cra, cras, credit, creditor, date, dca, default, defaulted, dpa, email, firm, fos, hassle, ico, leeds, lost, mortgage, pay, payments, rules, solicitors, updates
  • #2
    Re: Rules of keeping CRF balance updated?

    When did you last pay anything?

    Comment

    • #3
      Re: Rules of keeping CRF balance updated?

      Is there any really pressing reason why the CRF is an issue? Its crap honestly, funded by banks, for banks, on behalf of banks and used by banks. Its crap.

      We instructed solicitors over two years ago now after a two year battle alone on four counts with Barclaycard. At the very first discussion with the firm who are now our solicitors the professional advice was forget all about CRFs and CRAs.

      "Once a dispute of any kind is started the banks and their cohorts will trash your credit file any way, justly or unjustly, so get it out of the way, forget it, live with it. It will be there 6 years and then it will drop off and cannot be reinstated. End of. Now we can get on with the real business."

      One has just been sold to the Leeds Losers as a lemon. In your case malamute, the entry is fully correct anyway as the defaulted balance was some £2200 and that is a true reflection of the state of affairs at the time. As far as I know they have no obligation to make any change to that figure. Perhaps those more au fait with CRFs will have a different opinion.

      Garlok
      Last edited by garlok; 11 October 2011, 15:08.

      Comment

      • #4
        Re: Rules of keeping CRF balance updated?

        The 'default' balance will stay at £2200 until the account drops off.

        The 'current' balance should be updated to show any reduced balance since the default.

        The DCA/creditor that has control over the record has a duty under the DPA to keep that 'current' balance accurate and up to date; including making 'regular' updates of any changes.

        You could complain to the DCA, but given the UE status and that you are not paying I can't see them playing ball and correcting it.

        That would leave you having to complain to the ICO/FOS etc... That would be lengthy, and frequently a futile effort.

        I'm not sure it's worth even a moderate amount of hassle to be blunt.

        If it was me I might be tempted to send an email to the DCA telling them that they have a duty to update, and citing breach of the DPA if they don't. See what happens?

        And/or dispute via the CRA?

        Neither of those cost you, so if you get knocked back you've lost nothing.

        Or just ignore it as it's not a huge deal in the grand scheme of things.
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

        Comment

        • #5
          Re: Rules of keeping CRF balance updated?

          thanks for the replies - it was more of a housekeeping thing i did by checking it to make sure it showed that the mortgage was up to date and i notice all the balances on my defaulted accounts were random - some were updated with the monthly payments to the dca - others weren't.

          The defaulted dates are correct so i'd imagine 6 years +1 day and the whole account will vanish or just the default marker?

          less than 3 years to wait then

          Comment

          • #6
            Re: Rules of keeping CRF balance updated?

            Originally posted by malamute View Post
            The defaulted dates are correct so i'd imagine 6 years +1 day and the whole account will vanish or just the default marker?
            The whole account will.
            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

            Comment

            • #7
              Re: Rules of keeping CRF balance updated?

              well - i cant say i'll miss them!!

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