Missed payments showing on settled accounts

incesticde

Hi Folks,

Just checking my Credit Report and for the last three years it's looking good, just the one late payment. Over six years it's improving a hell of a lot. Beyond six years it's awful!!

The issue I have is that I have two accounts that were both closed/settled in 2008, that have entries for over six years ago, that are showing loads of missed payments (from my pre-LBM days).

I realise settled accounts will show data until six years after the settled date, I was just wondering how much weight would prospective lenders (I'll be going for a mortgage in the next six months) give late payments from over six years ago? Some? None? Loads?

Thanks for your help

Incesticide

izools

Depends on how many, over how many accounts, and by how far you were late.

If say you had one month late on two accounts five years ago and that's it, unlikely to have any impact atall. If you were six months late on three accounts three years ago however this will have a much bigger effect.

You'll just have to suck it and see. The most 36 months are the most important so as long as you've had absolutely no adverse whatsoever in the last 36 months, have active accounts showing good conduct and sensible balances / limits, and have no / very few searches you should be alright... I suppose; but every lender is different.

Suck it and see I say

incesticde

izools wrote: »

Depends on how many, over how many accounts, and by how far you were late.

If say you had one month late on two accounts five years ago and that's it, unlikely to have any impact atall. If you were six months late on three accounts three years ago however this will have a much bigger effect.

You'll just have to suck it and see. The most 36 months are the most important so as long as you've had absolutely no adverse whatsoever in the last 36 months, have active accounts showing good conduct and sensible balances / limits, and have no / very few searches you should be alright... I suppose; but every lender is different.

Suck it and see I say

Thanks for your reply..

How much weight do you think they would give to lates older than 6 years that are showing on the settled accounts?