When do late payments fall off?

Melissa_Phillips

I recently applied for a remortgage with Natwest, to my disbelief they turned me down....I was advised to get a credit report from Equifax which I did, they only disturbing thing on there was some late credit card payments from 2005. 2 were yellow and the 2 after that were red, they were only late payments

Does anyone know when these will fall off the report?

YorkshireBoy

They're usually only shown in '00000210000021000U' format for 3-4 years on Experian and Equifax respectively, but it seems you'll have to wait the full 6 years...so they'll "fall off" sometime this year.

dunstonh

lenders are taking a big dislike to late payments nowadays. It indicates either poor financial management or potential budgeting problems. Underwriters have the ability to overule the automatic refusal but that would depend on what the overall lending requirements and how well you are within limits or if you are pushing those limits.

WLITC

Melissa_Phillips wrote: »

I recently applied for a remortgage with Natwest, to my disbelief they turned me down....I was advised to get a credit report from Equifax which I did, they only disturbing thing on there was some late credit card payments from 2005. 2 were yellow and the 2 after that were red, they were only late payments

Does anyone know when these will fall off the report?

If you were late paying something in 2005 then they should fall off this year. i.e if you had a late payment in July 2005, then it would fall off in July this year. Somebody else may be able to enlighten you as to whether this happens automatically (I'm assuming yes as I can't see that the CRA have time to manually do this). What are the dates of your last late payment? Once you establish that, I would wait a month, then get check your credit file again and then reapply.