"delinquent balance" on Credit Report

Suitcase

I have a "delinquent balance" on an account on my credit report. Have only noticed this today and assuming this is the reason why have am able to get credit.

What exactly does this mean? Is it the same as a Default? :think:

Dont suppose theres anyway the bank will remove it?!

I am up to date with payments on this account now. (They took my overdraft away when I was in my last year of uni, with no income i had no way of paying it back!)

funfunder

Sorry don't know but sounds an interesting one. Guess someone will know the answer x

Tixy

See page 12 of this link http://www.experian.co.uk/downloads/consumer/creditfileexplained.pdf

Its certainly a negative - I think they sometimes put it on if they cannot put on a default notice for some reasom.

Suitcase

Thanks- couldn't find anything about "delinquent balances" on there...

Does anyone know if they are legally required to give notice before putting this on my file?!

Tixy

All of page 12 is about delinquent accounts?

Cut and paste for you here (not sure how the table will come out), I don't think theyhave to inform you before marking the account as delinquent.


A delinquent account is one that has been:

• three payments behind for two months in a row over the past year; or

• more than three payments behind over the past year.

The following information may also be included with account details on your report.

Gone away The lender has reported that you no longer live at the address you gave and did not give them a new address.

Debt assigned The lender has reported that they sold the debt to an organisation which is not a member of our information-sharing scheme. We will keep the record in the original lender’s name and show it as closed.

Deceased We have been told that the account holder has died.

Recourse The lender has reported that the account has been transferred to the dealer or retailer who introduced you to the credit agreement.

Voluntary termination The lender has reported that the account has been closed under Section 99 of theConsumer Credit Act 1974.

Arrangement The lender has agreed to vary your payments for a time.

Debt management programme The lender has reported that the account has been included in a debt-management
programme (for example, one organised by a citizens advice bureau, National
Debtline or the Consumer Credit Counselling Service).

Account query The lender has reported that you have questioned how accurate the information is.

Joint account This shows that the account is or has been jointly held with another person. The name of the person you share an active joint account with will be shown in the ‘Associations’ section of your report. See page 6 for more information on financial associates.

Credit protection insurance claim You have made a claim against your credit-protection insurance.

Partial settlement The lender has reported that:
• the debt was included in a voluntary arrangement which has now ended;
• the debt was included in a bankruptcy order which has now been discharged;
• the lender has accepted a smaller amount in full and final settlement; or
• the lender has repossessed the asset and is no longer chasing the debt.

Debt sold to CAIS member The lender has sold the debt to another member of our information-sharing scheme. The old account will have been closed and a new active account will show in the name of the lender who has bought the debt.

If the account only shows delinquent and not any of the other categories then I guess its still delinquent but does fall into any of those specific instances.

If you want further information you could try contacting the credit ref agency through the online query option.

Suitcase

oh, my bad!!! i did do a search in the pdf but didnt come out with anything!!

thanks for this!!!

this is quite annoying because seems as tho this delinquent balance is being seen the same as a default

have written to Santander, will try equifax too!

Thanks for your help