Credit file recording secured debt after bankrupt
Hoping someone can help.
I declared myself bankrupt due to a huge change in income back in March 2011 and have since been discharged a few months ago. In order to clear up my credit file as soon as possible I've been looking at it in more detail through my credit report and monitoring a few things. Most creditors appear to have done the right thing and registered the correct information but one account concerns me.
Before my bankruptcy I had a car loan with Creation finance which got to be 6 months in arrears. Unfortunately Creation managed to get a charging order on my property before I was able to go bankrupt so this is the only debt I have outstanding. At the time I wasn't too concerned as it put my property well into negative equity and meant that the OR was unlikely to try and force sale of the property.
Once the charging order landed, Creation made clear that they would not try and force sale of my property and this was purely to secure their money. Upon looking at my credit file, they continue to register payments as 6 months late despite me now being 18 months behind, past the default and CCJ stage and the loan has now been secured.
My worry is that in 6 years time my credit file will be totally clear with the exception of creation who continue to register this loan as 6 months behind, whereas if it went to default status it would be off my file in 6 years regardless of if it has been paid up.
I intend to try and pay this back in time but cannot afford to at the moment. In future this could prevent me remortgaging or moving, at which point they would get their money, so it seems counter productive from their point of view as well.
My question is two-fold:
- Am I able to do anything about this secured loan given my bankruptcy and that it was originally unsecured, even though it was secured before my bankruptcy?
- Are Creation able to keep registering this data or should it now be at default stage on my credit file and, if so, what do I do about it?
Any advice would be much appreciated as I've tried searching everywhere but can't really get an answer and I'm trying to prevent my bankruptcy having an impact of longer than 6 years.