Credit Reports and how long do "bad" debts remain?

caramia1812

I was second name on joint mortgage with my ex-husband. Got my report some time ago when I was trying to get a better mortgage deal and one report shows that my ex was late every single month, for a year, in 2005 with our mortgage payment. How long will it be before this no longer shows on MY credit report?

Many thanks.

Tixy

Does it show that there is a default on the account? or just as late payments?

If a default it will show for 6years from the date of default.

If no default but just late payments what has happened to the account since? is that mortgage account still open or was it settled at some point? if so when?

beanielou

DEpending on answer's to Tixy's post above could be six years from 2005.

caramia1812

Tixy wrote: »

Does it show that there is a default on the account? or just as late payments?

If a default it will show for 6years from the date of default.

If no default but just late payments what has happened to the account since? is that mortgage account still open or was it settled at some point? if so when?

Hi, Just late payments and I settled the mortgage when he b******d off by taking out new mortgage in my name only. Strangely Nationwide obviously didnt see these late payments as a threat as I had no problem getting the mortgage. NOW they are a problem for some reason and it is really beginning to bug me!

Thanks in advance for help.

Tixy

The account will show for 6years from the date you settled it.
And the late payment markers show for the last 36months (or 24) of activity, so these will unfortunately show for 6years from the settlement date.

Other lenders/potential lenders should put less importance on them as they get older.

Are you showing as still being financially associated with him? if so and if all joint accounts are now closed then file a notice of disassociation so that anything he is doing now on his credit file won't impact on your ability to get credit.