Challenging information on credit file

[Ferru]

I once challenged incorrect information on my credit file. A few weeks later got a letter from the credit reference agency saying that the bank concerned had checked their records, and were happy that the information in the file was correct.

 

Do banks investigate properly claims that the information they have supplied is incorrect? Or do they take the view that the computer doesnt lie, but the customer usually does, and dismiss all claims that the data held is incorrect without any investigation?

 

Does anyone have any advice on challenging information on a credit file?

 

Thanks in advance.

 

Jeff

[dave]

We have something in the pipeline that is BIG about this very subject.

[Guest Mumofthreeboys]

We have something in the pipeline that is BIG about this very subject.

 

Can't wait for this

[daisy lighter]

I have been wondering if, taking all the various systems at work within the banking system that they would now be shareing information between the various lenders about customers who are challenging the lenders?

Not quite a CIFAS but some other confidential warning code or check?

(that we dont see)

 

If not I would imagine that it wont be long in coming .....

The thought worries me as I see peoples files on a regular basis and have come to the conclusion that nearly 50% of them contain info that is incorrect and in many cases ruins otherwise good files.

 

I have tried (with not great sucess) to help with getting info corrected or removed, however the advice given by the CRA's " contact us and we will issue a note of correction and investgate for you" means little more than nothing in most cases and people are left with deflamatory incorrect info on their credit files.

And this is the info we are allowed to see!

 

The more recent the mistake the more chance of correction but Ferru I think your assumption is correct - the CRA's seem to believe the lenders everytime and as far as I can see you will need to get your bank to change the info and if you can do that the CRA's will follow suit.

 

Sounds like Dave may have a different answer ?????

 

Anytime your ready Dave !!!

 

Cat

[Ferru]

I look forward to hearing about it.

 

Can you give us any clues at this stage? What timescale are we looking at?

 

Regards

 

Jeff

 

We have something in the pipeline that is BIG about this very subject.

[meagain]

I believe it'll be made available on a WIR basis (i.e. When It's Ready).

[Bean]

We have something in the pipeline that is BIG about this very subject.

 

Top stuff Dave, looking forward to seeing this.

[Bean]

We have something in the pipeline that is BIG about this very subject.

 

Top stuff Dave, looking forward to seeing this.

[ppauls150]

I would like to see this aswell especially if it helps me to try and get rid of two defaults on my account which was paid and satisfied ages ago but contacted Vodafone who said they still wont remove them even though they are satisfied even though i did read somewhere that some companies will if you ask them. Hope this info is going to help me somewhere in this region. Getting rid of these two defaults will put my credit rating back into the good books and might be able to start looking at getting some of my higher interest rates lowered to better ones.

[Tinkerbelle]

You may want to take a look at these two threads:

 

Default Hell

 

and

 

How to Get you Default Removed

[One of Them]

Banks will only register something against your credit file if it in delinquancy for many months, and if you provide proof that you've had it registered against your CF they'll remove it.

[Tinkerbelle]

Banks will only register something against your credit file if it in delinquancy for many months, and if you provide proof that you've had it registered against your CF they'll remove it.

 

And what Bank do you work for? Coutts?

[telewest]

edited

[meagain]

I assume we're entitled to get the 1s and 2s removed too if they're for money we don't actually owe (e.g. charges, etc.)?

[Bean]

I assume we're entitled to get the 1s and 2s removed too if they're for money we don't actually owe (e.g. charges, etc.)?

 

Yes.

 

For example, in my County Court claim I contend that any late payment and overlimit notices on my credit record as a consequence of bank penalty charges must be removed. I am seeking a remedy to put my credit record back to the good condition it was in prior to unlawful bank penalty charges (and unlawful interest on those charges) being levied.

 

I have no defaults but the damage that late payment and overlimit notices can do to your record is significant and potentially costly.

[Bean]

We have something in the pipeline that is BIG about this very subject.

 

Any news Dave?

[jb79]

I've had a look around and I can't find what I'm looking for.

 

Right I'v sent letters to everyone I can think of requesting information cash and credit file repair. Given this if there is anything left on the credit file it is false.

 

Is there a standard letter I can send to the CRA's to say that there should be no detrimental information in my file and that if there is they need me to help them investigate their error?

 

I just don't want to spend any money on a credit file that I can't charge back at this stage in the game £10 is way too much for the credit industry.

[lz57s9]

We have something in the pipeline that is BIG about this very subject.

Has anything come of this i am really interested in this subject.

[petethemanc]

Any news????

[humbleman]

We have something in the pipeline that is BIG about this very subject.

 

NEWS!!!

[stroke a badger]

I too would be interested in this.

[fergal71]

hi bank fodder / surly bonds what is the big news ....... we have waited long enough

[too strong]

Me too, I have just back to sorting out my file and would definitely be interested in what is going on.

 

I am sick of the CRA's lack of responsibilty when it comes to the incorrect information they report for everbody to see. The relation of the banks and CRA's is way too close for comfort.

 

This may sound controversial but i think the sub-prime market has been boosted the profits of the banks by this very thing.

 

The banks profits increase when you can not get a decent mortgage / loan because of incorrect information, but then you have to go to a sub-prime lender who is another financial arm of the banks who have just rejected you for a loan, but you pay a much higher interest rate for the same loan.

 

So the CLIENTS of the CRA's profit even more.