LLoyds loan defaulted in 2006

[The Debt Star]

Had a loan with Lloyds defaulted in 2006. Earlier this year they sold the account to Wescot.

 

lloyds marked my CRFs as "settled." The default is still there, but settled.

 

Wescot have just filed the same debt (which they now own) as a default with the CRAs. The dates for both are the same (2006 default) but can they file 2 separate entries for the one debt?

[BRIGADIER2JCS]

As the original file is settled and the new one

has the same date, you could request the

removal now of the original, although they

will probably consider that it is a true picture

of the account.

[The Debt Star]

right so it is possible to have two defaults filed for the same debt then. because that's what it is. 2 "Default" markers for the same debt, same start date, same default sum, same default date. Just 2 separate entries now. Great.

[BRIGADIER2JCS]

It's no two defaults the original has been

settled by a debt purhase and so is settled

the ''new'' entry shows exactly the same details

It seems this is a ''change'' showing up more

recently though as there was usually an updating

of the files by a new owner, which often led to

2 enitirely different entries niether showing settled,

far more damaging than 1 settled and the '' new one''.

[The Debt Star]

ok, but does that mean the "settled" one - which still has a red "Default" blob on the payments history - stays on my file for 6 years afetr Arrow settled it or does it come off on the anniversary it defaulted?

[BRIGADIER2JCS]

All default entries are removed on the anniversary of the

default date paid or not.#

Brig.

[247orbital]

Only the owner can register the original default date, if Lloyds have sold the debt then they have no right to process your data any longer. The purchaser of the debt becomes responsible for all CF entries.

 

I had a similar thing with Natwest and they removed the listing as soon as I made them aware of it.

[BRIGADIER2JCS]

Sold or not the original creditor will

still be holding records for 6 years,

how else would we be getting information

by Subject Access Request??

[247orbital]

Retaining information for 6 years is required under law, this does not give companies the right to list your data with the CRA once the debt has been sold. This responsibility passes over to the purchaser of the debt.

 

As always SAR the original creditor and always double check that default date.

[BRIGADIER2JCS]

I did not say it gives any right to the creditor

to process the data,only that it is retained.

[247orbital]

that was the impression your post gave, more misinformation. Its becoming a recurring theme from you Brig.

[The Debt Star]

Retaining information for 6 years is required under law, this does not give companies the right to list your data with the CRA once the debt has been sold. This responsibility passes over to the purchaser of the debt.

 

As always SAR the original creditor and always double check that default date.

 

Hi m8. I already have the SAR and its defo the SAME debt. The DCA purchased it from Lloyds earlier in the year. On Equifax there are TWO entries - both with Defaults recorded for this same debt.

 

Interestingly, on Experian the Lloyds debt was simply changed to the name of the DCA, so just the one entry there. Equifax is the problem.

[The Debt Star]

I had a similar thing with Natwest and they removed the listing as soon as I made them aware of it.

 

So you recommend a letter to Lloyds, as opposed to Equifax, pointing out the duplication?

[BRIGADIER2JCS]

that was the impression your post gave, more misinformation. Its becoming a recurring theme from you Brig.

 

If you bother to read the post properly I clearly said the oc will be holding records

not processing them, quite clear and explicit, for any one of even a low reading age

in my opinion.

[247orbital]

yes I sent a copy of the original default I had obtained under the SAR to both the bank (in your case Lloyds) and to the CRA.

 

Point out to them that you have multiple listings for the same debt.

[BRIGADIER2JCS]

Hi, DS, you always need to contact the company

that plced the entry on the file, and copy in the cra and

place notice of dispute on the entry.

[BRIGADIER2JCS]

there is also the delay on Equifax which cause you

to see the last report that you ordered which may

no longer be current so you do not see updates at

that point.

[The Debt Star]

ok cheers guys