Credit Agency Experian Data

noah271007

Hi Guys

I know some of you will know a lot about how Credit agencies keep data on your credit files etc. I am hoping some of you will help me out here:

I have asked Experian who for some reason do not know the answer to my question. I even looked on the net and there is nothing i could find relating to the answer I want.

All i know is Experian keep repayments history up to 36 months on active accounts and any more, those payments will drop off on credit file.

The question is can the repayment history be kept on experian credit file for as long as 9 years after an account is settled.

For example:
I had 3 late payments markers (1,2 and 3) on CC account in the first 3 months after account opening and closed CC account (settled) when account is 3 years old (a full 36 months repayment history)
ON credit file it would show i had 3 late payments in 36 months with account settled - are they allowed to keep data showing late payments for a further 6 years after account settled or CRA's not allowed by law to keep any DATA that are more than 6 years old?
The example I just explained shows that in theory late payments can be on credit file for as long as 9 years on Experian credit file? and Equifax, another CRA it is 10 years because they keep data repayment history up to 48 months.

Do anyone know the answer?

System

Hi Noah

I see what you are saying but I don't think there's any reason to worry.

It's highly unlikely any company will search beyond three years of payment history, hence why they typically request three years address history.

The payment history data will be visible to YOU for the lengths of time you suggested, but you will not be assessed on anything over 6 years. This is why defaults and CCJs drop off 6 years from the date of default or judgment.

I still have missed payment history that is 2.5 years old and have no problem getting credit at all.

I don't really know if this answers / semi-answers your question?!

Regards
UNDERGROUND

thebaroness

That's an interesting question. I work as an underwriter and I'm not sure of the answer. However, I agree with Underground that a missed payment 6/9 years ago won't make a difference. Especially if everything has been fine since.

noah271007

Thanks guys for your time to reply. Both of your answers are semi-answered, so still waiting for others to help answer my question.

Also does anyone know how long Call credit keep repayment history data up to? 36 months?

NewbieMoneySaver**

What I have done in the past is write to them as not all phone operators know all the answers to your questions. When you write you are more likely to get the answers you need at the cost of a stamp. If you are not happy with their first answer they would more than likely give you a complaints address to write to.

Good luck

noah271007

NewbieMoneySaver** wrote: »

What I have done in the past is write to them as not all phone operators know all the answers to your questions. When you write you are more likely to get the answers you need at the cost of a stamp. If you are not happy with their first answer they would more than likely give you a complaints address to write to.

Good luck

There is no harm in asking if anyone can answer my question. A lot of MSEs are credit savvy and know a lot of info regarding CRAs and how they keep data etc.
I just wanted to know about ACTIVE accounts and whether it is possible to record a late payment for as long as 10 years on credit file. I have read that someone have asked this particular question in one post some time ago but no one have managed to answer it.

Experian keep 36 months payment history (36 months) on ACTIVE accounts
Equifax keep 48 months payment history (48 months)on ACTIVE accounts??
Call Credit ??? 36 months i suspect??

Moggles_2

Experian keeps late payment history on active accounts until it drops off your file 36 months later.

If you pay off and close down the account, the final 36 months of payment history stays on file for 6 years from the date the account was settled.

So, if you want your late payments to disappear from view in the shortest time possible, keep the account open and active

That said, as they recede into the background, late payments become less significant. If your recent payment history is nigh on perfect, I wouldn't worry.

noah271007

Thanks Moggles i already know Experian keep 36 months on ACTIVE accounts.
What about Equifax? is it 48 months?
Call Credit?
Someone must know the answer?

noah271007

I just found this link.
http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/127751-credit-reference-agencies-holding.html
It is interesting reading. Equifax keeps repayments record on ACTIVE accounts indefinitely which means in theory with Equifax you could have a series of late payments way back 20 years ago and the late payments would still be there!! I did emailed Equifax about this specifically and they double confirmed it is 48 months (4 years) record before any late payments can be drop off. Can anyone confirm this? By looking at your credit report? i have to wait for mine until July to reach 48 months! And yes i do have late payments.
Anyone know about call credit?