# Loan pre-bankruptcy still on Credit Record



## Stuboy (3 May 2019)

Howdy,

I'll keep this short.
Wife (former bankrupt) applied for a loan, was refused and called by bank.
Have found an old credit union loan (included in bankruptcy) still being recorded on credit report.
ISI have instructed us to write to the CU and request correction.
has anyone experienced similar? was it much hassle with the lender to get resolved?

Cheers


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## Gordon Gekko (3 May 2019)

Surely bankruptcy doesn’t delete one’s credit record?


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## RedOnion (3 May 2019)

Gordon Gekko said:


> Surely bankruptcy doesn’t delete one’s credit record?



it doesn't delete the credit history, but it sounds like the loan is still outstanding in OPs case.
CU needs to close the loan, and then amend the CCR record. Only the CU can do this.


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## Stuboy (3 May 2019)

Yes, the issue is that this one loan is showing as still active wiht payment schedule being missed in 2019, when the loan should be closed as of bankruptcy date as is the case with the other loans of that period. this is the only loan that there is an issue with. all others were closed off at the bankruptcy date.


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## Stuboy (16 May 2019)

Just in case anyone encounters a similar issue...
The ISI recommendation is a complaint tot he data protection commissoner (done)
and also a letter to the institution to rectify (also Done - but they're crying off with the 'there must have been an IT problem' excuse at the moment)
I'll update on the resolution and how straightforward it is (or isn't)


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## breakonthru123 (17 May 2019)

Stuboy said:


> ..the loan should be closed as of bankruptcy date as is the case with the other loans of that period.



Hi @Stuboy, could you qualify what ‘date’ you’re talking about? Date bankruptcy was declared originally in High Court OR later date of exiting bankruptcy?

(My wife and I should be exiting bankruptcy in early July, so if it’s the former ‘bankruptcy declaration date’ then we too should seek our credit reports and ‘correct’ any loans still presumed ‘active’.)


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## AH2017 (4 Jun 2019)

Backdated to date of adjudication in my experience


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## Stuboy (25 Jun 2019)

yes backdated to date of adjudication in the case of a loan, where an asset is concerned it is cleared once the surrendered asset is sold. AFAIK. that was certainly the case with our house.


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