Old Arrears- How do I get rid??

Cool-tom

Hey folks, so I'm quietly going about being debt free and have been studying my credit reports and finances like crazy over the last few months. A rough outline of my situation is...

8K in debt (was 12k)
All my accounts are perfect, only missed 1 payment on a Barclaycard 2 months ago.
But in 2003 I was signed up for an MBNA credit card through Abbey National. I missed some payments and now my credit report says I have an account in arrears. This is the only thing dragging my entire credit score down. The missed payments where in 2004 and i closed the account in 2008. How can I have my current credit report changed to say I am NOT in arrears ( I hold my hands up to the missed payments, 18 yr old and not thinking ahead at the time)??

My credit score says Callcredit- Account settled, Equifax- Arrears (payment not met for 4 months)

Any advice would be great. Im also sending them a letter regarding PPI i was sold at the time. I have no paperwork from them, will they be able to send me a copy of everything if I send my £1 to them?

TBH I'm more fussed about getting the arrears taken away. It was 7 years ago :mad:

happy_bunny_2

can't help with all of the above. The closed account stays on your account for 6 years.

The older it gets, the less impact it will have.

You can also use companies who only search experian if that's clean, as they usually keep 36 months payments on there.

You might be better off posting this on the debt free wannabe board.

Curr946

When you say exquifax arrears. Do you mean the account status is showing as arrears or just that the account was in arrears. If its the first, and you have since.closed the account it should show as settled. However it will continue to show the missed payments within the body of the report.

If its the second, this how it should show. After 6 years (from the date.you closed the account) it will drop off.

Cool-tom

Hi Curr946, yeah the account was closed in 2005, Callcredit says it's closed, yet Equaifax says it is in arrears. I understand there will be a notice saying I missed 4 payments, but why is it in arrears? I called MBNA today and he said it would be passed to his manager to check why it's saying this. Sounded like I was being fobbed off, but I can wait and see.
Does anyone know why it would be saying arrears?

Curr946

Well, yeah, They have not updated the status since you closed your account. Contact equifax also and inform then they hold incorrect details. They too will contact MBNA to request the most up to date info on the account and correct mistakes.

happy_bunny_2

If you don't get joy from MBNA via phone sooon, send in writing, signed for. Much harder to ignore than phone calls.