What does Settled mean on CreditExpert?

Legacy_user

On my credit report, under "Account Information" it says something there for Next

Next Directory: Settled

This is from January 2010, and if I remember correctly, I think I ordered something from there (and paid it off), then they sent me a statement, and I realized it was credit so i emailed them telling them to cancel whatever I had open with them

On my credit report, it shows it being settled 6 months later.

Everything under Status History is green (0), but I thought settled meant you owed them a debt, and it was settled without paying off the full amount? Why did it take 6 months as well?

I'm just curious as to what it means and whether it looks bad or not?

Also, for my time at address, does it matter if it's different on each search/my CreditExpert info? Not by a lot, but maybe a few months to a year?

ryantcb

settled means account has been paid and nothing owed. it shows you pay your debts so is good.

noh

Settled means the account is closed.
Nothing owing.
It's good.

Jammi

LooieENG wrote: »

This is from January 2010, and if I remember correctly, I think I ordered something from there (and paid it off), then they sent me a statement, and I realized it was credit so i emailed them telling them to cancel whatever I had open with them

...and that's the very reason it's shown as settled on your report. Its all good, though it probably should not have taken 6 months after instructing them to close the account.

System

Oh that's cool then.

Thanks

Edit: Jammi, yeah that's why I thought it was something else due to showing up for 6 months

Jammi

LooieENG wrote: »

Also, for my time at address, does it matter if it's different on each search/my CreditExpert info? Not by a lot, but maybe a few months to a year?

Time at address will be different on each search, since its calculated to the date that the search is done. It should not be a problem as long as the searches accurately indicate your time at the address on the day the search is made.

System

Jammi wrote: »

Time at address will be different on each search, since its calculated to the date that the search is done. It should not be a problem as long as the searches accurately indicate your time at the address on the day the search is made.

thanks. I also have one more question

I applied for a Halifax card last month, and there are two searches showing up. same date, same info but one has time at address

Jammi

LooieENG wrote: »

I applied for a Halifax card last month, and there are two searches showing up. same date, same info but one has time at address

Same thing happened to me when I applied for a Halifax Card last year. I could have queried it with Halifax, since they both appear as credit searches. However I chose not to, and both searches should fall of my report later this year anyway.

izools

Is one of them a "Credit Card" type search and the other, either an "Unrecorded Enquiry" or "Identification: Generic Check"?

Jammi

izools wrote: »

Is one of them a "Credit Card" type search and the other, either an "Unrecorded Enquiry" or "Identification: Generic Check"?

Both of mine are "Credit Card" searches. I guess i really should get halifax to remove one of the searches, maybe also seek compensation;). Citing it as a possible reason for a recent Credit Card refusal.

izools

Well it's certainly defamatory and misrepresentative data so you can get it removed no problem; just log a notice of correction against it through the help centre and Experian will speak to Halifax and get it sorted for you.

Unfortunately it wouldn't be a source for compensation unless you asked the company to do something about it when you became aware of the issue and they failed to do so within a reasonable timeframe