Credit Report Woes...
Discussion
Yesterday my mortgage broker came back with some unwelcome news - "you've failed the credit check". Half baffled, half raging, I checked with Equifax and found two defaulted debts, totaling £2.5k, from 2010. They are associated with a property I own (but haven't lived in since 2009). The fraudsters had used my personal details but the wrong surname (which begs the question, why its even on my report). My credit report and score are otherwise perfect.
Since then I've filed a report with the police (through their fraud service), have a crime reference number, have asked Equifax to update their information (they are contacting the debt collection agency who put these on my record - both debts are associated with them) and I have contacted the agency directly too.
I've been told to wait 28 days for a decision to be made (either way) - which is ridiculous given I'm the victim here. Any ideas how I could progress this any faster - should I get my solicitors on the case? Right now there's a good chance we'll lose the house we want to buy given the interest it's receiving and the sellers eagerness to move out!
Virtual beer to anyone who can assist.
Since then I've filed a report with the police (through their fraud service), have a crime reference number, have asked Equifax to update their information (they are contacting the debt collection agency who put these on my record - both debts are associated with them) and I have contacted the agency directly too.
I've been told to wait 28 days for a decision to be made (either way) - which is ridiculous given I'm the victim here. Any ideas how I could progress this any faster - should I get my solicitors on the case? Right now there's a good chance we'll lose the house we want to buy given the interest it's receiving and the sellers eagerness to move out!
Virtual beer to anyone who can assist.
sa_20v said:
Yesterday my mortgage broker came back with some unwelcome news - "you've failed the credit check". Half baffled, half raging, I checked with Equifax and found two defaulted debts, totaling £2.5k, from 2010. They are associated with a property I own (but haven't lived in since 2009). The fraudsters had used my personal details but the wrong surname (which begs the question, why its even on my report). My credit report and score are otherwise perfect.
Since then I've filed a report with the police (through their fraud service), have a crime reference number, have asked Equifax to update their information (they are contacting the debt collection agency who put these on my record - both debts are associated with them) and I have contacted the agency directly too.
I've been told to wait 28 days for a decision to be made (either way) - which is ridiculous given I'm the victim here. Any ideas how I could progress this any faster - should I get my solicitors on the case? Right now there's a good chance we'll lose the house we want to buy given the interest it's receiving and the sellers eagerness to move out!
Virtual beer to anyone who can assist.
The problem that you have is that virtually all lenders will be led by whatever is on the credit file, whether the information is correct or not. If the system says no, then it's highly unlikely that you will get that decision over turned until your credit file is reflecting how it should be.Since then I've filed a report with the police (through their fraud service), have a crime reference number, have asked Equifax to update their information (they are contacting the debt collection agency who put these on my record - both debts are associated with them) and I have contacted the agency directly too.
I've been told to wait 28 days for a decision to be made (either way) - which is ridiculous given I'm the victim here. Any ideas how I could progress this any faster - should I get my solicitors on the case? Right now there's a good chance we'll lose the house we want to buy given the interest it's receiving and the sellers eagerness to move out!
Virtual beer to anyone who can assist.
From the lenders point of view they are not going to change their decision based on a plea that the defaults are there incorrectly as anyone could do that.
From experience this will not be resolved in the time frame your going to need it to be.
Good news, you can get fraudulant entries removed from your credit file. Bad news it can take some effort and time, and a quick fix is not likely.
You'll need to contact all three credit reference agencies, Equifax, Experian and Call Credit to get it fully sorted. You may also have to contact the company that registered the defualt and complain to them, and get them to acknowledge fraud and withdraw the inaccurate defualt.
Good luck, and keep a record of everything, time and dates of phone calls, names of agents, copies of all letters etc.
You'll need to contact all three credit reference agencies, Equifax, Experian and Call Credit to get it fully sorted. You may also have to contact the company that registered the defualt and complain to them, and get them to acknowledge fraud and withdraw the inaccurate defualt.
Good luck, and keep a record of everything, time and dates of phone calls, names of agents, copies of all letters etc.
Have spoken with the debt collection agency again this afternoon. I've been told this may be a 'mistrace/mis-trace' rather than fraud. They wouldn't confirm if this was their error - I suspect it is? I've been told they will respond to me in seven days (I'd imagine this will be working days) with news.
Virtual beers purchased. Thanks for your responses.
Virtual beers purchased. Thanks for your responses.
sa_20v said:
Have spoken with the debt collection agency again this afternoon. I've been told this may be a 'mistrace/mis-trace' rather than fraud. They wouldn't confirm if this was their error - I suspect it is? I've been told they will respond to me in seven days (I'd imagine this will be working days) with news.
Virtual beers purchased. Thanks for your responses.
Even if they agree that it's their in error, the process for getting it removed and then for each credit referencing agency to update their records is going to run into several weeks rather than several days.Virtual beers purchased. Thanks for your responses.
Just don't want you to think that this is going to be rectified in seven days, even if they admit to an error....
Sarnie said:
Even if they agree that it's their in error, the process for getting it removed and then for each credit referencing agency to update their records is going to run into several weeks rather than several days.
Just don't want you to think that this is going to be rectified in seven days, even if they admit to an error....
I don't disagree, just trying to make myself feel better! Just don't want you to think that this is going to be rectified in seven days, even if they admit to an error....
However, some good news, had our offer accepted (formerly) and Experian has given me 970 as a score - good to see they are more accurate...
sa_20v said:
I don't disagree, just trying to make myself feel better!
However, some good news, had our offer accepted (formerly) and Experian has given me 970 as a score - good to see they are more accurate...
So the defaults show on Equifax but not Experian?However, some good news, had our offer accepted (formerly) and Experian has given me 970 as a score - good to see they are more accurate...
Is the Estate Agent not harassing you for an AIP Certificate?
Sarnie said:
Virtually all lenders will be led by whatever is on the credit file
Handelsbanken don't. They ran a credit check on us to check identity, but the lending decision was made based on our income and projected expenditure. I had an issue with not being on the electoral register according to the CRAs, a letter from the borough council confirming that I was on the register sorted that out before it was even raised by the bank.They might be worth a look for you.
paulrockliffe said:
Handelsbanken don't. They ran a credit check on us to check identity, but the lending decision was made based on our income and projected expenditure. I had an issue with not being on the electoral register according to the CRAs, a letter from the borough council confirming that I was on the register sorted that out before it was even raised by the bank.
They might be worth a look for you.
I did say "virtually" They might be worth a look for you.
There are a minority out there (Aldermore etc) who don't credit score per se but do you think that if you had defaults on your record they would have just ignored them?
Sarnie said:
paulrockliffe said:
Handelsbanken don't. They ran a credit check on us to check identity, but the lending decision was made based on our income and projected expenditure. I had an issue with not being on the electoral register according to the CRAs, a letter from the borough council confirming that I was on the register sorted that out before it was even raised by the bank.
They might be worth a look for you.
I did say "virtually" They might be worth a look for you.
There are a minority out there (Aldermore etc) who don't credit score per se but do you think that if you had defaults on your record they would have just ignored them?
As it happens, I was expecting to have a conversation about a default at some point as there is one on my account. An old phone contract that wasn't closed properly, not sure who was at fault as it was a few years ago, I moved house and wasn't aware of an issue until a few months ago. It wasn't mentioned at all.
It was a bit more leg work as I had to put together a comprehensive budget, which involved analysing historic spending working out what would change and calculating things like mortgage costs. But something I was going to do anyway as it's not just the bank that need to know what's affordable for me. With the others I presume I wouldn't have needed to present such an indepth case as they would rely on the credit score more.
Anyway, worth a look I think.
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