Help understanding ICB report

M

Magpie

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Hi, I've just got my ICB report and don't quite understand it. Helpfully when you call the ICB you get a recorded message saying to call back between 2 and 5, even though it is half past 3!!

So I went bankrupt in 2016, discharged 2017. My mortgage appears on the ICB with a 9 in 23 of the 24 boxes, and an A in the 24th. Nowhere does it have a P or a W or anything to show the bakruptcy, unless the A is relevant to that?

It does show a balance of 0 and a removal date end of 2021.

Is this ok? Shouldn't is be stated somewhere about bankruptcy or that the amount was written off? The loan was bought by a vulture fund a few years ago if that makes a difference.

There is also a page for the credit card that I had which was also in the bankruptcy. Every box shows K for revoked and a balance still showing. Shouldn't this also be 0? And/Or show as written off? It has a scheduled removal date of mid 2020.

Should I be doing anything to correct this report, and what should it show to be fully accurate, is what I am asking?

Any thoughts gratefully appreciated.
 
The 24 boxes are the previous 24 months and "9" means that the loan was 9 or more months in arrears that month.

"A" means that the credit agreement was assigned to another party - presumably the vulture fund who bought your mortgage. As the vulture fund is not a member of the ICB the status on the loan wasn't updated to "W" for written off.

With revoked credit cards I think the balance remains visible until the record is removed after 5 years.
 
I've since discovered that its actually my Central Credit Register report that I really need to see, as the vulture fund can and do report to that. And given that the ICB report was completely inaccurate (the bank was returning a 9 score both after they were advised of bankruptcy and after they sold the loan on and had no business reporting on it) I have little faith that the other one will be much better.

It's hard for people to try and recover from bankruptcy when no-one is recording accurate information
 
Magpie said:
I've since discovered that its actually my Central Credit Register report that I really need to see, as the vulture fund can and do report to that. And given that the ICB report was completely inaccurate (the bank was returning a 9 score both after they were advised of bankruptcy and after they sold the loan on and had no business reporting on it) I have little faith that the other one will be much better.

It's hard for people to try and recover from bankruptcy when no-one is recording accurate information
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Hi. Did you get any update on this? Does the scheduled removal date of December 2021 mean it will no longer show on the credit report?

Will the default be removed from the credit register after 5 years or is it continuously updated forever by the vulture fund?
 
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