Credit reference agencies and the CML. etc etc etc

greenspun.com : LUSENET : Repossession : One Thread

I was reposessed in 1992, all my latest credit files received from Experian, Equifax and a comprehensive report from checkmyfile.com has no record of my repossession(They did in 1992). I know that after six years they are removed, but I read in an earlier posting that I could be on a register held by CML for up to 12 years. I went on CML's website today and they state that the register is operated by both Experian and Equifax and instruct you to pay your 2 and get a copy of your file to find out if you are on it. So I am confused as if no details are on my latest reports, how can I be on a register held by CML if the credit agencies operate it. I also served a SARN on Wescot and they replied that "they can find no reference to myself or addresses suplied but normally to access information a Wescot account number should be quoted in order for the details to be found", does anyone know what thats all about? I guess you know were I'm going with this, if Experian, Equifax,CML, Wescot and Checkmyfile.com no longer have a record of my repossession; and I apply for a new mortgage, how will the intended lender find out if I don't tell them. Lastly, I DO INTEND to tell them, but ask if they are under any obligation to inform the Alliance & Leicester( my first mortgage Lender) that I am applying for another mortgage. For your information I have not received any correspondence from A&A scince my solicitor ask them to justify there claim back in January 1996, and do not wish to remind them that I am still on there wanted list.

-- Steve Clarke (seclarke@ntlworld.com), September 10, 2001

Answers

I was also amazed to find that none of the credit ref agencies appeared to hold anything on me even when SARNed, but was warned by this site to still expect the 5 years 11 and a half months letter from my ex-lender - and indeed it arrived. This suggests to me that the only way to be truly rid of the parasites is to actually SARN the lender, and argue it out. In your case, it may of course be worth just waiting till the six years is up, and if you've heard nothing you're in the clear - but I get the impression this doesn't happen very often. As regards getting a new mortgage, presumably if you tell the new lender about the repo they can choose whether they check up the details or not. Good luck.

-- Melody (mbc109@york.ac.uk), September 11, 2001.

Before SARNing them I would probably take steps to protect my assets... no sense in inviting trouble.

-- (bluemoon@mcfc.co.uk), September 11, 2001.

Er...if you tell the new Lender about your repo, expect to told to go play with the traffic. My experience, direct and indirect, is that the major Lender's will not touch you with a ten foot pole once they find out.

-- Too scared to say (iwasduped@yahoo.com), September 11, 2001.

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