[Clive]

Dear esteemed colleagues,

A member has complained to us that we have misreported an old loan of theirs to TransUnion, and this has affected her opportunity to get a good mortgage deal. The loan in question was written off in 2017, but was somehow (we are still investigating how) still included in our monthly CRA submissions.

My questions:

1. Is there an absolute/regulatory rule that bad debts should not be reported after 6 years, or is this just convention?

2. If there is such a rule, where does the responsibility lie to screen out old debts? Is it with us, as the supplier of the information, or is with the CRA who report on it?

With thanks, as always, for any help or advice.

Clive

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[Chris]

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