An entry has mysteriously disappeared on my credit file?

[fredsdebt]

Hi. Just a quick question that I would be grateful for someone to offer some thoughts on. I have had an ongoing disput with one of the big credit card companies which reached a stale mate position several months ago and I have heard nothing since. It is not over 6 years old (about 3 years old) so not statute barred. I have over the last few months been pulling off my credit file from one of the main CRA's and the credit card debt has just sat there no change. I called up my credit file this month and the entry has now gone - no mention or record at? The numbering of the entries for other credit cards etc,. also shows that this one has gone as the numbering has changed. My question is - has this debt now 'gone away'? It is strange as it is not over 6 years old that it has now gone, yet other credit cards I have had and settle/closed a long time ago still sit there. Any thoughts anyone? Thanks,

Edited November 2, 2011 by fredsdebt

[BRIGADIER2JCS]

Possibility is that the debt has been sold/assigned to

a third party, some times there is a delay before the

file is updated, you really need to check Experian, Equifax,

and Call Credit the latter on CC Noddle is always free.

Information does vary between the sites at times.

 

Brig.

[fredsdebt]

Hi Brig, thanks for your input. Debt sold on sounds like that could be the answerhere. Not sure if that would be good news or not!? I have signed up one of the main CRA's but hadn't thought about regularly looking at other CRA's to see what they have on file for my credit history. Is it worth checkin the other CRA's as I have always thought that if I keep an eye on one that would be enough?Thanks,

[BRIGADIER2JCS]

No, not all creditors use jus one CRA some may use

only one and others all three or 2 out of three not

always the same 2 though, it gives them an ''average''

opinion on a debtors/prospective customers ability to pay.

I check all 3 every 6 -8 weeks personally.

 

Brig.

[natalie]

I've had 3 disappear, one reappeared under a different name (so sold on) about a month later, the other two havent reappeared yet but I daresay they will at some point.

[fredsdebt]

Thanks Brig and Natalie for taking the time to post here.I think I will look at checking the other two CRA's that I dont currently look at.If it (i,e the debt) does pop up again it will be interesting to see who it is and if I receive any letters or phone calls about it. Thanks,

[fredsdebt]

Brig, the CRA that I currently use to keep a check on has all the Credit Cards that I have (and wish to keep an eye on) then is that not sufficient? I would have thought that if the credit card companies send information to say 2 of the 3 CRA's or even all 3 CRA's then they surely have to send the same information? Else, do they update the ones they use with sometimes different information - surely not!!? Thanks,

[BRIGADIER2JCS]

All this depends on the creditors internal

processes there is no obligation for the

creditor to report at all if they wish but

most mix and match to get an average

picture of credit status.

 

Brig.

[natalie]

It might be just my creditors, but I find all of them use equifax, but only a few use experian, and I dont bother with the other one. I've also found that experian doesnt get a fraction of the searches I get on equifax.

[BRIGADIER2JCS]

It might be just my creditors, but I find all of them use equifax, but only a few use experian, and I dont bother with the other one. I've also found that experian doesnt get a fraction of the searches I get on equifax.

Please beaware that multiple searches for credit applications

are as damaging as defaults as potential lenders will feel that

you may be over stretching youself.

 

Brig.

[natalie]

Please beaware that multiple searches for credit applications

are as damaging as defaults as potential lenders will feel that

you may be over stretching youself.

 

Brig.

 

Oh I'm not applying for credit, I meant the multiple searches done by the DCAs on a regular basis.

[BRIGADIER2JCS]

Hi Natalie, are these searches debt collection/outstanding debt or ''unrecorded''??

[catquest]

It might be just my creditors, but I find all of them use equifax, but only a few use experian, and I dont bother with the other one. I've also found that experian doesnt get a fraction of the searches I get on equifax.

 

Amex only use Experian

[BRIGADIER2JCS]

I believe I read some where of a ''relationship''

between the two companies quite a while ago.

[natalie]

Hi Natalie, are these searches debt collection/outstanding debt or ''unrecorded''??

 

A mix of the two, sometimes 6 or 7 days in a row

[BRIGADIER2JCS]

Ok, has anything crawled out of the woodwork since

the searches and which DCAs are making all the searches??

There may well breach guidance on the number and frequency

of searches, I've don a lot of work on this and gained ''jestures of good will''

from DCAs.

Brig.