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 "Debt Assigned" status on credit file
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CIF
Advanced Contributor

188 Posts

Posted - 23 November 2014 :  20:31:05  Show Profile  Reply with Quote
Does anyone know if this has the same status as "satisfied"?

lizs
Frequent Contributor

27 Posts

Posted - 23 November 2014 :  20:33:43  Show Profile  Reply with Quote
Usually means that the debt has been sold on, from my experience anyway. Hope this helps.
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TDA (Debt Adviser)
Trust Deed Expert



13402 Posts

Posted - 23 November 2014 :  20:33:54  Show Profile  Reply with Quote
That sounds like a debt that has transferred to another party CIF, usually a debt purchaser.

Might that be right?

Debts often change hands during trust deeds.

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CIF
Advanced Contributor

188 Posts

Posted - 23 November 2014 :  20:39:01  Show Profile  Reply with Quote
Yeah I knew it means debt assigned just wasn't sure if it also meant "satisfied" since it has been purchased and by way of extension, settled with the original debtor?

Oddly I have three entries on my credit file with Barclaycard. One satisfied, one debt assigned and one in default. I only ever had the one card with them!
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TDA (Debt Adviser)
Trust Deed Expert



13402 Posts

Posted - 23 November 2014 :  20:48:31  Show Profile  Reply with Quote
I don't think that means satisfied CIF, just that the liability has moved to another party.

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CIF
Advanced Contributor

188 Posts

Posted - 23 November 2014 :  20:52:10  Show Profile  Reply with Quote
Yes I get that but to the original company who sold on the debt? They have their money (in a way_ so surely it ought to mean "satisfied"?

The company it sells it onto put their own entry on as "unsatisfied" but doesn't seem right that you can have two entries as unsatisfied for the one debt?
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TDA (Debt Adviser)
Trust Deed Expert



13402 Posts

Posted - 23 November 2014 :  20:58:09  Show Profile  Reply with Quote
I can see where you're coming from CIF, but I really don't know enough about credit reporting to comment in any great depth. None of us get any training in this, just what we pick up over the years.

My guess is that the same debt shouldn't appear twice.

Another member who has worked through the same scenario might offer you better help.

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CIF
Advanced Contributor

188 Posts

Posted - 23 November 2014 :  21:01:34  Show Profile  Reply with Quote
Yeah cheers TDA, appreciate it's not your area. The principle just doesn't seem right to me and I am hoping another poster can help.
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Bert Rudge
Frequent Contributor

45 Posts

Posted - 23 November 2014 :  21:30:08  Show Profile  Reply with Quote
Have you ever had any cards like Goldfish or Egg that may have been taken over by Barclaycard?
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Sold down the river
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102 Posts

Posted - 23 November 2014 :  21:43:50  Show Profile  Reply with Quote
Check the account number on the three accounts, this cannot change when they sell it. If they are the same then you can ask them to remove them. The important thing is to make sure they have not changed the date of the default to the time when they bought the debt. That date changing is a favourite trick they pull. If the dates are not changed I really would not worry about it as one default is as bad as 10.
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CIF
Advanced Contributor

188 Posts

Posted - 23 November 2014 :  21:46:03  Show Profile  Reply with Quote
Cheers Bert, that makes a bit more sense now. However I am still showing a double default for my old Egg account.

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Bert Rudge
Frequent Contributor

45 Posts

Posted - 24 November 2014 :  21:48:15  Show Profile  Reply with Quote
Okay, this is a pain this one.

You've got an active account - it's running normally or defaulted or whatever, its gets sold on.

The original account gets marked settled and debt assigned.

If the buyer also reports to the bureau, a second account carries on as an active/default depending on what it is.

If the buyer doesn't report, then it gets marked as settled and debt assigned.

That's my understanding off it, there's really little information on it and you don't get much sense from Experian about it.

It all really comes down to what was is your personal situation. An underwriter can never tell why it was sold on. You could have stuck to the agreement or it could be because something was going wrong. You may want to do a notice of correction depending on the circumstances

Whatever, you should never have more than one opened, so it shouldn't effect your total level of debt. However, a scoring system or "untrained" eye could misinterpret.

That's my understanding of it, it might not be 100%

However, one isn't necessarily as bad as ten. Each lender will have their own triggers in terms of numbers and values of defaults. 1 may not be an automatic decline.

However, I know what you mean sold down the river as it would be likely anyone in a Trust Deed would be hitting these automatic decline triggers.


Edited by - Bert Rudge on 24 November 2014 21:49:11
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