Credit Profile Corrections

Chris_Tax

Hello there,

Apologies if I'm doubling up here.

I have a query in respect of my credit file. Currently I have a "fair" rating, per Equifax, which is dragged down by several "late" payments arising from a dispute with Santander over some bank charges.

Ordinarily, I'd accept punishment for having taken an argument and lost, however, what makes the pill even more bitter is the charges arise from my parent's use of the account (who had trouble getting a regular current account after bankruptcy stemming from business failure).

This was around March/April 2010.

The "delinquent balance" was around £120.

I'm now seeking to restructure my finances and of course this will affect my offered APR.

So I have two questions:

• Can I correct this on my file?
• If I can't correct this, how long will it stay on file?
• If I have to fight to correct it, what are the chances

Appreciate any advice you can offer!

KRs

Chris

Clive_Woody

What corrections do you think need to be made?

Chris_Tax

Clive_Woody wrote: »

What corrections do you think need to be made?

Hm. Thanks for that!

Preferably to remove the late payments and clean the record.

This is the only smear and unfortunately its my parent's mistake I'm paying for.

As I said the amounts were small and it seems an inequitable by-product to drastically reduce my rating, which is all lenders will pay attention to in the computer-says-no society we have today.

Clive_Woody

Chris_Tax wrote: »

Hm. Thanks for that!

Preferably to remove the late payments and clean the record.

This is the only smear and unfortunately its my parent's mistake I'm paying for.

As I said the amounts were small and it seems an inequitable by-product to drastically reduce my rating, which is all lenders will pay attention to in the computer-says-no society we have today.

But from what you have said the late payments did occur from your account so I am not sure there is anything that needs correcting.

I am not sure how your parents accessed your account, if it was done without your knowledge or consent then this needs to be reported to the police and only then might the bank consider removing the late payment marker if this was fraudulent use of your account.

If you gave your parents permission to your use your account then I would guess you are 100% liable for any problems that occur as a result of this. It's not your parent's fault in this case it is yours for allowing them access to your account.

I guess this isn't what you want to hear, but I suspect you are fighting a losing battle.

The ratings and credit scores provided by the various organisations such as Equifax are okay as a very rough indicator of how a bank/lender might view you as a prospective client, but they will use their own scoring system. If you have no other black marks on your file (CCJs, defaults, missed payments, etc) then I would imagine you will still be considered by mainstream lenders, they might not offer you their typical rate, but will probably consider a loan if affordable.

Apples2

I too am confused as to why you consider these markers worth challenging.

You challenged Santander and lost so by definition, they were correct. You have little, if any chance of having these removed.

They will remain on your file for 6 years from date of entry.

Your Parents haven't done anything wrong (assuming you were aware they were using your account, the mistake your entirely yours if you allowed someone else to access and use your accounts.

Chris_Tax

Thanks for the responses all. Shame it can't be changed.