Equifax - Credit Agreements - Query

[davidscreditfile]

I am new.

 

I recently applied for my credit file.

 

There was only 1 agreement on my file under "Credit Agreements" The Company is, Shop Direct Finance Company Ltd.

 

The details are as follows;

 

Name Mr (CORRECT) Date of Birth (CORRECT)

Terms 0 @ £ 0 (Monthly) Status Settled

Current Balance £ 0 Start Balance £ 0

Credit Limit £ 0 Default /Delinquent Balance £ 0

Start Date 22/12/2001 Date Updated 06/10/2009

Date Last Delinquent N/A Date Satisfied 26/09/2009

 

Payment History - There is nothing whatsoever, except in September 2009, a Green Square for Settled. There is no other financial history regarding payments.

 

I do not have any other financial commitments / information on my credit report.

 

 

I am positive that I opened this account in 2001 (unsure if it was accepted or declined), however I know I never used the account (It was for my mother who already had her own catalogue), however;

 

1.Does this account having no credit limit, opened in 2001 and no payment history until it was closed with Settled, mean anything? The start Balance was £0 and ending Balance £0.

2. It states satisfied as the same date as settled. - Does settled not mean a bad thing? Can anyone provide their views/opinions?

3. Why after 8 years have they decided to put this on my file?

4. In terms of things appearing on your credit file, nothing was signed. I am sure this was via telephone - can someone advise me on the legal status of this information being legally allowed to appear on my file considering they have no actual signed credit agreement and no purchase etc.

 

The response from Equifax was "This account is appearing as settled with no negative information. Credit agreement information remains on your Credit Report for six years from the date that the account was settled or defaulted, whichever occurs first."

 

Naturally, I do not believe a word they say, hence the reason for asking you brilliant people.

 

Thanks,

 

Div

[Michael Browne]

http://www.fool.co.uk/credit-reports/credit-report-basics.aspx

 

A settled account is one where you have repaid your credit. Credit agencies keep a record of settled accounts for six years from the date you paid off all amounts owed to that account. The payment history shown on your report will relate to the period before you repaid your credit.

 

A defaulted account is one where you have not kept to a credit agreement. Agencies keep a record of these for six years from the date you broke the relevant term of the credit agreement. The record will show how much money you still owe. If you have paid off everything you owe since you broke the credit agreement, the account will be shown to be ‘satisfied’ at the balance.

[davidscreditfile]

Thanks, it does say SETTLED, however says date SATISFIED .

 

I am just unsure as If the opening balance and credit limit are showing as £0, and no payment history for 8 years, why is it now appearing on my file?

Div

[BRIGADIER2JCS]

Who was the original creditor?

Is that the name on the entry?

If these are different it may mean the

account has been transferred to a new company.

[davidscreditfile]

Who was the original creditor?

Is that the name on the entry?

If these are different it may mean the

account has been transferred to a new company.

 

The company was Littlewoods (Shop Direct Finance Company Limited), the company on my report is Shop Direct Finance Company Limited.However I do know that Littlewoods changed it's name to Very (very.co.uk), probably deleting the debt, but it is stil the same holding company.

 

All I really want to know is that, If I was declined for the account (hence the start balance and credit limit £0, this must mean that the account was opened then not offering any terms except cash payments or similar - would this not show as a bad thing, as it clearly shows that I applied for credit and was not offered credit?

 

If I dispute the account due to them not having a signature, would I be in my right to have it removed?

Thanks,

Div

[brokebutnotbeatn]

there is no negative data against this entry so you're fine. but if this is the only account that shows (no mobile phone, credit cards, loans at all?) then that is a negative in itself for securing credit!

[BRIGADIER2JCS]

I would ignore it completely it is not

damaging in anyway, my wife has two

such catalogue entries never used and

it has no effect on her credit worthiness

on all 3 main CRA's is excellent.

[davidscreditfile]

there is no negative data against this entry so you're fine. but if this is the only account that shows (no mobile phone, credit cards, loans at all?) then that is a negative in itself for securing credit!

 

Yes, there is nothing else whatsoever, I do not have any credit out at the moment and have not taken any credit out for around 14 years - I paid everything off about 14 years ago, everything I had seemed to have dropped off. Will this affect my ability to obtain credit in the future? How bad do you think as things are not so fruitful at the moment and may require some form of credit!

[BRIGADIER2JCS]

Try and get a credit card with a low limit

any use it for small purchases , pay it

off in full each month so you build

up a credit picture over few months.

[davidscreditfile]

I was thinking of doing this - however having only recently applied for CallCredit & Equifax report, I will need to get Experian report before applying for anything as unsure what lurks within that file!

 

My call credit report is fine - I've had linked addresses removed and am in the process of removing 2 credit searches, one of which is an Employment Check, so that file seems to be free from negative information, Equifax only has a settled catalogue account and 2 searches from Apex which I am trying to have removed as discussed in my previous thread, which you are aware of, however, I am thinking that Experian, who, from what I have read, seem to attract a lot of information, so I'm thinking this will be the worst of them all.

 

Once I've cleaned up all 3 reports and also sent a SAR letter off to National Hunter, who seem to be the credit agency that's secret, I can then go about applying for a card and hopefully supply supporting financial documents to support an application. I should have kept up to date with my reports, but nonetheless, your help is appreciated.

 

Div

[brokebutnotbeatn]

Hi Div, if your bank account is in good shape then you could speak to your bank about getting their credit card? It doesn't look as if there is anything on the files that would stop you getting a card other than the fact you don't have credit (mad, isn't it!) so if you've been running your finances with your bank well then I don't see why they would refuse you.

[davidscreditfile]

Hi Div, if your bank account is in good shape then you could speak to your bank about getting their credit card? It doesn't look as if there is anything on the files that would stop you getting a card other than the fact you don't have credit (mad, isn't it!) so if you've been running your finances with your bank well then I don't see why they would refuse you.

 

Indeed, although my Bank Account is not showing on my credit report either! I paid all my debts off when I came into a small amount of money and have not had the requirement for applying for credit - although I was out the country for 10 years, but am still on the voters roll.

Im in the process of applying for my Experian report, so once that is fine, I'll probably speak to my bank.

Thanks,

 

Div

[BRIGADIER2JCS]

Good luck with that Div.

 

Brig.

[davidscreditfile]

I've posted this in Re: Outstanding Debt Search - help please!

 

Unsure Which thread I actually posed the question to about Equifax and Apex, please forgive me if I am not supposed to post in this manner.

 

 

This is the reply from Apex regarding disputing their credit search for outstanding debt on my Equifax credit file. (Apex conducted a Table 1 search on my Equifax credit file and I disputed it with Experian (still awaiting a reply from them) and Apex directly, asking them to provide proof that they have the correct data subject and could provide evidenced that they had authority to conduct said search)

 

This is the reply;

 

 

Dear Mr xxxxxxxxxx,

 

Following my email below.

 

Apex Credit Management works on behalf of a number of high street banks and creditors for the purpose of debt collection and trace. This account was passed to Apex by Lloyds Banking Group who have requested that we trace and collect on behalf of them.

 

I understand that you have requested a copy of your agreement for the above account, please note this will need to be requested directly to Lloyds Banking Group who remain the data controller for this account, this copy of agreement and terms and conditions will state that Lloyds Banking Group can outsource the accounts to Debt Collection Agencies such as Apex Credit Management to trace and collect.

 

Having contacted our trace department they have confirmed that this search is correct and is to remain, however If you dispute this you will need to contact Lloyds Banking Group directly as we will require confirmation that this account was sent to us in error.

 

Regards

 

Compliance Advisor

 

 

- I have already complained to Apex and Equifax, but now they are telling me that Lloyds have informed them the search is correct.

 

Any ideas as I never have had any Lloyds account at my address and I have only lived at 1 address. I feel like I am being given the run around.

 

Thanks for any help in advance,

 

David

[BRIGADIER2JCS]

Do as advised on other thread, please keep

to one thread to avoid confusion!!

[davidscreditfile]

Do as advised on other thread, please keep

to one thread to avoid confusion!!

 

Ha, felt I had done something wrong!, Will do!

 

Div:violin:

[BRIGADIER2JCS]

Ha, felt I had done something wrong!, Will do!

 

Div:violin:

 

Hi Div, Nothing wrong at all thought I was going

mad and seeing double and had only 2 brandies.

[davidscreditfile]

Update;

 

both Equifax and Apex are not budging. Apex have just ignored RD letters and emails, Equifax- am still waiting an update from them.

 

Callcredit have removed all disputes, so my file there is clear.

 

Div

[BRIGADIER2JCS]

Hi David, were any of the letter sent as Formal Complaints?

If not repeat them with that heading and send to the

compliance manager at both companies.

Have you checked Experian.??

[davidscreditfile]

Hi David, were any of the letter sent as Formal Complaints?

If not repeat them with that heading and send to the

compliance manager at both companies.

Have you checked Experian.??

 

Yes, both letters were sent Formally!

Equifax am waiting a reply since 3.9.2011 and Apex just told me to write to Lloyds.

 

I am considering making a complaint with the ICO, but I told Equifax and Apex that I would do this but it never made them reply!

 

Experian, I have applied and they are wanting me to send in a bill and a passport or sorts, Ive written back to them omitting out my picture and Passport number and told them that the file is to be sent to the address they have for me which obviously confirms my address... The timescales they reply are dreadful..

 

Dv

[BRIGADIER2JCS]

HI, the CRAs are slow to reply due to the volume

of correspondence they deal with.

Apex are right, only the originator of the

default/entry can remove it.