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[Buzz]

Hi All,

Not been on for a while so just catching up.

Anyway, a bit of advice for anyone who has recently been discharged from BR.

Dont assume the OR will inform the credit reference agencies that you have been discharged:

Yesterday I started a months free trial with Equifax.
I noticed that my BR which was March 2006 was still showing as current!! (even though i was given an early discharge in Dec 2006)

I rang equifax to tell them them and they advised I called the OR which I did.
Now the annoying bit..
When you are made BR, of course they inform all the credit reference agencies. Unfortunately, when the BR hasd finished, they are not courteous enough to advise them of this!

The OR said that if I now (after 3 years) add a correction to the file it will stay on for 6 years from the date I did it, so in effect the BR will still be recorded after 9 years.
How can this be right?
My advice to anyone in this position: As soon as you receive your discharge notice, tell the credit ref agencies straight away.

Buzz

[Thomas]

Hi Buzz

I think the arrangement with credit reference agencies is that once bankrupt, one's name is listed for 6 years before it drops off along with any other 6 year old information. So even if you inform them that you hve been discharged after one year, or earlier as in your case, I dont think it makes any difference as future lenders' decisions will be based on the fact that you were bankrupted within the 6 year period shown. Unless it is a very serious case everybody is discharged after maximum 12 months and lenders would know that. I think that if you ask for a 'correction' that information will start another 6 year cycle and merely amplify the point you wish to play down. So may be letting sleeping dogs lie would be best.

I noticed that some of my creditors had continued to report 'defaults' for months after I was bankrupted - and therefore technically no longer indebted to those former creditors. I was concerned that this would prolong the period beyond the 6 years. But the credit reference agency confirmed that regardless of this continued adverse reporting the items so marked would drop off on the 6th anniversary of bankruptcy. However, if this does not happen I will then go back to the credit reference agencies with an insistance that my record is cleaned because then it will be a matter of fact rather than opinion.

[Buzz]

Hi Thomas, - sorry for not replying sooner... Computer probs !!

For some reason it is only equifax still showing as undischarged. experian and annualcreditreport do actually show the discharge dates.
I know it stays on the file for 6 years, but it seems more than a coincidence that I have applied for credit and bank accounts since and the companies that show as searching on my experian report, I have been accepted for three of the four applications.
However, the ones that show on equifax, I have been declined on all occasions. I am putting this down to the fact the BR still shows as undischarged on equifax.

Buzz

[Hg]

The IS does, in so far as they inform anyone else about the making of the order, also inform them of the discharge.

The agencies pick up the orders form the Insovlency Register, which is open to all to access on the IS website. When a discharge is granted, the register is updated and you are still recorded on it for a further three months, but shown as discharged.

They should have picked this up during that period.

Don't do a notice of correction; that would be recorded for 6 years. Demand they remove incorrect information under the DPA.

Re defaults after bankruptcy. This is a grey area. it can be argued that these are technically correct as you could still technically be in default as you are still sort of liable for the debt until you are discharged.