Experian help

smithysaver

I recently got my credit report from experian and have noticed I have got a default on there from a credit card I got in 2002 and it was defaulted in 2003. I haven’t settled the account, so will it be deleted off my file in 2009? Or will the six year period not start until I have settled the account? Also I have quite a few linked addreses on there that are my previous addresses but mispelt, also a linked address with my brothers name on it. Would these damage my score? Thanks

grumbler

How long do credit accounts stay on my report?
Defaulted and settled accounts are kept on our records for six years from the date of default or settlement. After this time they are automatically removed.

I don't see any reasons for existing and unsettled account to be removed from you file(s).
Regarding your brother and other addresses see: About your credit report

smithysaver

So would I benifit from paying off the defult? Because if its gonna come off my report anyway, why pay it off? I rang experien today about the 10 linked address which are my 3 previous addresses all mispelt in some way, and the guy wasnt really interested, and just told me to contact the companies. I asked him if mispelt address would affect my credit score and he didnt really give an answer although they are gonna take my brother off my report. Where I live it down as First Floor Flat, but when I apply for any credit/banks ect, They cant find the address?

grumbler

smithysaver wrote:

So would I benifit from paying off the defult? Because if its gonna come off my report anyway, why pay it off?

Why do you think that 'its gonna come off ... anyway'. My understanding of the above quotation is that it will stay 6 years after settlement (or indefinitely if unsettled).

smithysaver

I rang a guy at experian and he said the 6 years is from date of defult, but untill then it will look better if its marked as settled.

emjel

I think you'll find that it will stay on file for 6 years from the date of default or whenever you made the last payment, whichever is the later.

BYould

All items stay on your credit report for six years from the date of default. Even if you pay off the balance they will still come off from the date you first defaulted.

YorkshireBoy

BYould wrote:

All items stay on your credit report for six years from the date of default. Even if you pay off the balance they will still come off from the date you first defaulted.

That's not how grumbler's quote from Experian (above) reads to me.

For example, if you default in 2001 and then decide to settle the debt in 2006, the record will still be visible on your credit file until 2012 - ie 6 years after the last 'activity' on the account and 11 years after the original default.

In effect, you're being penalised for 'settling' your debt.

smithysaver

This is why im not sure whever I should settle the debt, as its been 4 years so i only got to wait 2 years for it to come off my file. Where if I decide to settle it, the I dont want to wait another 6 years. The amount is £500 from an old credit card I had when I was 18 and silly lol

grumbler

Probably my understanding was wrong ...