Should I tidy up a credit file?

[Night Monkey]

I started this journey with six defaulted accounts - four credit cards (Barclaycard, HSBC, MBNA, Santander) and an HSBC overdraft. Annoyingly HSBC also defaulted a second current account for ~£100 which I'd have settled if I'd remembered it but in the £35k scheme of things at the time it slipped my mind.

I've kept an eye on my credit file with ClearScore and for some reason the Santander account was 'closed' a couple of months ago and has disappeared entirely. The dashboard however lists six accounts in total, three HSBC, two with PRA (MBNA and barclaycard) and Barclaycard as a separate entity, therefore listing Barclaycard twice.

If I drill down into the defaults there are five defaults in total, three HSBC and two PRA, which is correct if I also forget about the disappearing Santander account.

My question being, bearing in mind that I've go no interest in looking for credit any time soon, is it worth putting any time into tidying up the report while I've got the time and it doesn't actually matter or am I better just leaving it as it is and quietly waiting for everything to drop off sometime in 2024?

[The Tech Clerk]

• Type of account (credit card/loan/overdraft)
• Date commenced
• Approx balance
• Date last paid (approximate date you last made a FULL payment)
• Are you on arrangement or not paying
• Status (default/in arrears/up-to-date)
• Account owner (who is writing to you, a DCA or the lender or a debt purchaser)

Do a diary for each one separate listing here

[Night Monkey]

Apologies TC, perhaps I should have added a bit more context to the question.

I've been with AAD for about 18 months and already have a diary, I was just asking for a bit of input regarding the current status of my credit file. Is it worth potentially stirring things up with the CRAs in the interests of getting the reports as accurate as possible now to avoid inaccuracies causing problems in the future, or am I better letting things lie and dealing with issues as they arise?

I think I know which way I'm tending but was looking for any alternative views.

[Timewilltell]

When you say tidy up, what exactly do you mean??
the CRA will not change anything, they might if you are lucky put a note on the file but saying what?

[Timewilltell]

You want them to remove a debt that isn’t there?

[Night Monkey]

No, there's a duplicate entry and a summary that doesn't tie in with the details.

As you were, I'm overthinking it and will revert to my original preference of leaving things as they are.

[Timewilltell]

If you can see the mistake so can those looking at it?

[Night Monkey]

If you can see the mistake so can those looking at it?

I believe so, but thinking about it the best I can hope for is four defaults rather than five, at the risk of reintroducing a mysteriously disappearing one.

On balance I think I'm better off leaving it as it is and addressing any problems should they arise. Sometimes just posting the question helps clarify my thinking...

[Joanna Connolly Solicitors]

I'm overthinking it and will revert to my original preference of leaving things as they are.

You're not overthinking, it's good to think about the future of your financial profile.

This forum's attitude has always been to not care about your credit file while you crack on with the unenforceability route.

When you check your file it flags up to the information providers (i.e. debt purchasers and creditors) that you're alive and kicking which could draw attention to yourself. This might trigger activity on an account which has been left ignored for some time as you inch towards statute barred status.

Credit files also store the good news, so if you have a mortgage the snoopers may conclude that you might have a property so worth trying for a CCJ in the hope of obtaining a charging order which would turn an unsecured debt into a secured debt.

They can check your address on Land Registry to see whether you have other charges against the property so rush to get in the queue before others (charges are added/paid off in chronological order).

I spoke to someone yesterday (not an AAD member) who has an "Excellent" credit score on Experian, and a "Poor" credit score on Equifax where a water utility company had recorded a Default for a modest £200 unpaid bill.

The Default was picked up by a mortgage lender who said his mortgage interest (APR), and therefore monthly payments, would be significantly higher due to this negative.

In their case the Default may be erroneous as they were being billed by two different water companies for the same property. Once that evidence can be proved the Default can be challenged and hopefully removed.

My point is it may be worth tidying up a credit file if the entry is wrong and could cause damage, but unless you intend to apply for credit in the near future it can be a good idea to leave everything 'as is' for now.

After all you wouldn't want Santander to put back their entry if it turns out they shouldn't have removed it

Di

[Night Monkey]

Thanks Di, I was just looking for a discussion of the pros & cons really.

No poking the hornets nest for me

[Joanna Connolly Solicitors]

Thanks Di, I was just looking for a discussion of the pros & cons really.

It's more about timing than anything really.

There's a section on the forum about rebuilding your credit file and status. It's not been updated recently but it'll give you a good idea of what may lie ahead.

Link > https://all-about-debt.co.uk/moneymatters

It's good to see that there is a light at the end of the tunnel, and it's not an express train coming towards you

Di

[Roger]

It is really important to have a good credit score and to improve it, I believe to payoff the debts can also result in having good credit score, sometimes it is also wise to seek help from trusted organization like ************ but before that you should set up your own financial goals for a long term future.

Thats most generous of you ross450 offering to pay off OUR debts!
Lets understand what Credit score really means. Penalising for what six/ five in Scotland years the debtor! The credit score is actually the penalty for bad debts!
BUT in this corrupt business the debtor is a very good investment for the DBA's.
Debts written off for tax purposes and sold for pennies in the pound are pursued for FULL face value and even more in many Cases.
As you will know the Creditors and DBA's are mutually involved in the STEPCHANGES off this world.

Now if the debtor was offered pennies in the pound repayment plans by the Original Creditor it might be a different story!
What I have noticed is that Creditors seem to delay defaulting until the Debt is sold! Thus presumably increasing the Debts market value!

[The Tech Clerk]

Credit score? well most large companies have their own criteria and credit score companies info limited use by the companies except essential information ross450 can you pay off as roger says all our alledged debts? I believe you will not?

[Joanna Connolly Solicitors]

It is really important to have a good credit score and to improve it, I believe to payoff the debts can also result in having good credit score, sometimes it is also wise to seek help from trusted organization like ************ but before that you should set up your own financial goals for a long term future.

Hello ross450

I've deleted the link in your post because it is to an unauthorised firm which I reported to the FCA earlier this year resulting in the business being placed on their register of clone firms as a warning to consumers > https://register.fca.org.uk/s/unauth...G00002Tp08ZQAR

So I'm surprised to see another link to the business being posted on this forum again today.

I called the number on their website this morning and spoke to someone who gave me the name of the limited company providing the service. However when I checked on Companies House website the company had been dissolved.

I have now contacted the FCA again and given them an update. I believe that they also liaise with Action Fraud if appropriate.

Please don't post the firm's details on this forum again.

Thank You

Di

[Night Monkey]

Thanks Di. I was just looking for how to flag the offending post as spam when I saw that you'd already dealt with it.

Cheers.