The Sub Prime Credit Thread - Part IV

noah271007

I take it Nationwide and HSBC would be 6 years? I know for sure Nationwide search back 6 years, but not sure about HSBC and others.

How can you find out which lender search back 2 years, 3 years, or more?

never-in-doubt

noah271007 wrote: »

I take it Nationwide and HSBC would be 6 years? I know for sure Nationwide search back 6 years, but not sure about HSBC and others.

How can you find out which lender search back 2 years, 3 years, or more?

You can't find out, only from applying and peoples stories on here can you guage a rough date..... HSBC are 3 years mate, NW apparently are strict but then there are some on here with an account, and they were defaulted in the last 6 years... so what does that mean? lol

Basically remember if you are talking over 3 years then all the main banks should be ok with you. It also takes into account things like status of current accounts from the default to date etc... and an underwriter usually decides as well (its not an automated process).

noah271007

never-in-doubt wrote: »

You can't find out, only from applying and peoples stories on here can you guage a rough date..... HSBC are 3 years mate, NW apparently are strict but then there are some on here with an account, and they were defaulted in the last 6 years... so what does that mean? lol

Basically remember if you are talking over 3 years then all the main banks should be ok with you. It also takes into account things like status of current accounts from the default to date etc... and an underwriter usually decides as well (its not an automated process).

Cheers, obviously there has to be NO missed payments/adverse markers in the past 3 years if a default is older than 3 years old to have a chance passing the credit check - right?!
I can recall you saying that if there is ANY late payments in the past 3 years then sometimes they look back 6 years and decline credit applications this way.

That probably explain why some people managed to get CC or OD, whereas others don't with defaults on credit files.


Having said that, Natwest have AVU, so i guess they do look back in the last 6 years for every application?

big_Daddy_Dave

if a legal company writes to you

does that mean a default has been placed on your credit profile?

martinjohn

what is the best way of getting rid of a late patment mark on my credit file, i know i need to contact the lender, but what should i say, it was a direct debit payment that was "returned", i paid a few days later over the phone, but still got a mark. :mad:
should i use the old my DD wasnt gonna go through so i tried to pay by cheque, but it got lost in the post,,,, (it was around the time of the postal strikes)

never-in-doubt

martinjohn wrote: »

what is the best way of getting rid of a late patment mark on my credit file, i know i need to contact the lender, but what should i say, it was a direct debit payment that was "returned", i paid a few days later over the phone, but still got a mark. :mad:
should i use the old my DD wasnt gonna go through so i tried to pay by cheque, but it got lost in the post,,,, (it was around the time of the postal strikes)

1 late payment marker will have no affect on you. Don't worry about it and keep them to a minimum from now on :cool:

You can blag it any way you want, they will not remove it cos it is a factual entry on your report, sorry but that's the way it is.

never-in-doubt

big_Daddy_Dave wrote: »

if a legal company writes to you

does that mean a default has been placed on your credit profile?

well no, I have legal people writing to me all the time, but then that's cos I deal with legal bits and bobs.....

If you mean a debt collection agency or a solicitor acting for one then possibly, just get your credit file to confirm - before replying to the legal company!

never-in-doubt

noah271007 wrote: »

Cheers, obviously there has to be NO missed payments/adverse markers in the past 3 years if a default is older than 3 years old to have a chance passing the credit check - right?!
I can recall you saying that if there is ANY late payments in the past 3 years then sometimes they look back 6 years and decline credit applications this way.

That probably explain why some people managed to get CC or OD, whereas others don't with defaults on credit files.


Having said that, Natwest have AVU, so i guess they do look back in the last 6 years for every application?

Sorry mate, when I used the abbreviation NW that was NationWide in response to you. Natwest are easy and search 2 years (as Tesco) - avu only kicks in if they are not happy with something, so I guess they are classed as easy to be honest mate......

Your other points are correct, if you have a great file but one default from 4 years ago you may find the default itself has no affect at all on you getting credit, miss a payment or similar and it could have a big bad effect..... make sense.

big_Daddy_Dave

never-in-doubt wrote: »

well no, I have legal people writing to me all the time, but then that's cos I deal with legal bits and bobs.....

If you mean a debt collection agency or a solicitor acting for one then possibly, just get your credit file to confirm - before replying to the legal company!

yea debt collection agency i got one from Wescot

just dont know if theyve issued a default yet

never-in-doubt

big_Daddy_Dave wrote: »

yea debt collection agency i got one from Wescot

just dont know if theyve issued a default yet

you need to get your credit files mate....