During my mortgage application the lender says they found a default on my credit file. I cant find it!?

Question

HSBC have done a credit check on me and found I have a default in September 04. I have asked experian for a copy of this file and when I received my credit file, there is no default on it anywhere? But strangely there is no mention of the Egg loan which I know I had. I did miss two payments in July and August of 2004 as I was not in the country and everything went wrong in the finance department for mw then! But Egg never contacted me about a default and as I say, its not on the record.

How can my bank have found this if I cant see it on the file and can I get rid of it (I know the procedure) if I cant find it!?

Cheers

Answer 1

Ask HSBC what credit agency they used to check you and show them a copy of what you have.

Answer 2

There are 3 major credit reporting services, and not all companies report to all 3. You are entitled to get all 3 for free, so do not pay for them.

HSBC will tell you what agency they used.

Once you find the default, and Im not sure its the EGG incident, you need to explain, in writing, the incident. Default means you evacuted the debt. Otherwise it would show as a 90 day late payment.

Answer 3

It depends on what credit reference agency is used by egg.  As mentioned there are 3 in the UK.  You can get a copy of your credit report from each for only £2.

http://www.ico.gov.uk/for_the_public/top...

Not sure you will be able to get rid of it - even if you apply for a copy of the credit agreement and they cannot supply it most organisations will argue that it is correct and ignore any Data Protection Act legislation you throw at them.

Answer 4

They could have used Equifax for their credit search.

You need to advise them that you are not aware of it and show them your Experian report.  Ask them to be a little more specific so you can investigate as if it isn't true, you need to correct your file.

Good luck

Answer 5

I think the answer is that HSBC probably don't use Experian as their source for credit checks! Your best bet is to talk to HSBC face to face if possible, explain all the details surrounding that default, explain it was a one off and that you've got four years of excellent credit since then. They are looking for people who are a good risk (i.e. likely to repay) when they are considering lending, and doing this will help to show that you are not a "head in the sand" kind  of person but someone who just had some bad luck four years ago.

Answer 6

If you look at your credit file, it will have figures like 0, 1,2 etc in each credit agreement. if you see in the part about egg, there will be, 1,2 or 3 there.

There are ways to get that removed if u took out the debt before 1st of April 2007, and still have the card.

Answer 7

annualcreditreport.com

Answer 8

Just request your free credit reports through annualcreditreport.com or call them toll free @ 1-877-322-8228 for all 3 free reports.