# Credit Report adjustments post insolvency



## Mousey27 (13 Jul 2020)

Can anyone shed any light on this matter - as we all know, there are 2 credit reference agencies now. Insolvency or not, each credit agency holds the info on any borrowings for 5 years after their closure date. So, my query is this, is it or has it ever been possible to have a listing removed early? I exited an insolvency arrangement in  2016. I spent a few years trying to get the banks to stop reporting to ICB incorrectly (after 2016 they continued to report as if I was missing payments) and I finally got the report looking correct - that the loans closed in 2016. I would very much like to try for a mortgage this year, considering that since 2016 I have completely got my life back, and been working and saving hard with good banking habits. Do you think the bank would consider removing my listing from the ICB a bit early, or is the 5 year holding of info actually up to the ICB itself?
 I am also concerned that I havent been able to "build up" a good credit rating, as since 2016 I havent attempted to borrow, Ive just been saving. It was suggested to me I should apply for a credit card and use it for fuel/groceries but clear the balance each month, in order to build up a good credit rating...is this good advice? However, surely no bank will give me a credit card while I still have a bad listing on my ICB?


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## Silence4u (30 Jul 2020)

forget about the ICB as central credit register is the one now operational, check your report on that one and see if any loan agreements showing up.in regards to listing on the central credit register after the loan is repaid 5 years it will show up there... 
so even if you have icb removal date for 2021 its the last date of payment from which they will remove it from the central credit register.


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## RedOnion (30 Jul 2020)

Silence4u said:


> forget about the ICB as central credit register is the one now operational,


ICB is still very much operational, and used for credit checks by lenders. It will remain so until enough history is built up on CCR.


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## Baby boomer (12 Aug 2020)

RedOnion said:


> ICB is still very much operational, and used for credit checks by lenders. It will remain so until enough history is built up on CCR.


Just wondering why this is so.  I thought the CCR was compulsory and all current and past loans must be recorded in it.  Is the ICB not surplus to requirements?


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## RedOnion (13 Aug 2020)

Baby boomer said:


> Just wondering why this is so.  I thought the CCR was compulsory and all current and past loans must be recorded in it.  Is the ICB not surplus to requirements?


Because there isn't enough history yet on CCR. It's only been around for 3 years.


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## Baby boomer (14 Aug 2020)

RedOnion said:


> Because there isn't enough history yet on CCR. It's only been around for 3 years.


But does it not also include pre-2017 data? I remember much discussion here about banks having to trawl through historical data to get info for the CCR.


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## RedOnion (14 Aug 2020)

Baby boomer said:


> But does it not also include pre-2017 data? I remember much discussion here about banks having to trawl through historical data to get info for the CCR.


Not really.
Credit unions included loans which had been internally written off, as the balance was still outstanding. But it doesn't contain monthly arrears information prior to the month it went live for the relevant products.
Banks must by law now complete a CCR check for ant loan application over 2k, but they also check ICB.
If you've any doubt about whether or not ICB is still being used, apply for a mortgage, and then request your ICB report, and you'll see a footprint where it was checked by the bank.


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## Baby boomer (14 Aug 2020)

Ah, that makes sense, I suppose, thanks.  Presumably, the ICB is on countdown and will become redundant in a few years time?


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