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T O P I C R E V I E W
Hutch
Posted - 25 August 2010 : 11:57:07 Hi, Can anyone tell me how long it takes to update on your credit file after attending Court to file for BR? Is it immediately or does it take a few days / weeks?
1 L A T E S T R E P L I E S (Newest First)
gettingoutofdebt
Posted - 25 August 2010 : 15:16:40 Every time a repayment is due on a debt an entry is added to your credit file. If you make the repayment then one entry is added, if you default then a different entry is added. Most people stop paying their debts a couple of months prior to declaring BR in order to save the BR fee so your file may already show 'defaulted' against your debts before you declare BR especially if the debt is passed to a Credit Collector before you declare BR.
Once you declare BR the debts will continue to remain at 'defaulted' but, as the debt is included in your BR, there won't be an update each month. The loan should show a defaulted date the same as your BR date as this is when the complete loan/CC was defaulted.
Your BR will also appear on the Insolvency Register on the day you are BR (the Register is updated at midnight) and will also appear in the London Gazette within a few days.
