Matthew Moore
Registered User
- Messages
- 286
the ICB holds information about borrowers and their loans for 5 years after the loan is closed.
Hi Matthew
I'm in the same boat. Over 2 years later and its still showing up on my ICB report. They just refuse point blank to remove it !
The FSO are dealing with it so it's not moving very quickly. I'm sure they're completely overstretched at the moment. Theyre not impressed with the bank at all. Will keep you updated on how I get on with it.
NM
The problem that Matthew Moore and no_moolah have is that the information being provided by the financial institutions to the ICB is not accurate. Once the High Court makes a bankruptcy order the debt no longer exists. So the financial institution needs to mark the loan with a "W" (written off) or an "L" (settled for less than full amount), in the month that the bankruptcy order was made.
I was declared bankrupt in England in April 2014 and subsequently discharged 1 year later. I recently ordered my ICB and the only thing showing is my mortgage arrears. It has a last update date of May 2014 and a scheduled removal date of May 2019. What is shown is the number of arrears at this time and then a repossession as the last entry.
Is this correct as I'm not sure what it should show?
Also is there any way of having this repaired from my ICB. I'm in good standing now with a solid job, credit union savings etc. but I can't get simple credit because of this. I've tried to contact the Bank responsible to talk with someone about it but they don't seem to have any idea who that would be.
That was my understanding of it too. They can only rely on their security now, outstanding balance is irrelevant. Perhaps it's an oversight, I'll get onto the bank and give them a chance to correct it.
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