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Equifax - Terminology

Brussel_Sprout
Posts: 70 Forumite
hi,
I've just finished paying everything off!! I've dared to sign up to Equifax to take a look at my abysmal credit score.
Hoping someone can enlighten me on what the following mean as its impossible to find out on Equifax!
Up to Date - why does this not say 'settled'?
Deliquent/Defaulted balance - should this not show as 0 if the account is settled in full?
I'm going to write to Natwest as i was told that my defaults would be removed as a condition of settlement - I doubt they will but its worth asking I suppose.
Thanks,
BS x
I've just finished paying everything off!! I've dared to sign up to Equifax to take a look at my abysmal credit score.
Hoping someone can enlighten me on what the following mean as its impossible to find out on Equifax!
Up to Date - why does this not say 'settled'?
Deliquent/Defaulted balance - should this not show as 0 if the account is settled in full?
I'm going to write to Natwest as i was told that my defaults would be removed as a condition of settlement - I doubt they will but its worth asking I suppose.
Thanks,
BS x
Debt Free Target: December 2011 
:T I did it in November 2011!! :T

:T I did it in November 2011!! :T
0
Comments
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Brussel_Sprout wrote: »
Up to Date - why does this not say 'settled'?Deliquent/Defaulted balance - should this not show as 0 if the account is settled in full?I'm going to write to Natwest as i was told that my defaults would be removed as a condition of settlement - I doubt they will but its worth asking I suppose.Total 'Failed Business' Debt £29,043
Que sera, sera.0 -
What shows as up to date? If its a card or similar revolving credit agreement then that implies payments are up to date but the account is still open - you need to formally close the account for it to show as settled. And if you have closed it, how recently? it can easily take a month to show on your credit file, and down to the timing of when their cut off date is for reporting its not uncommon for it to lag 7weeks or so behind.
If its a loan that shows up to date but is paid off and finished - then again it could just be a small delay, if its more than a couple of months since you paid up then worth chasing up the creditor to update your file.
Delinquent / defaulted balance - this should be the balance that was owed at the date you defaulted. As long as it shows the current balance is nil then thats how it should be.
Good luck with natwest - did they confirm in writing that they would remove them?A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
Thank you both for replying, I did think i was being a bit optimistic with how quickly they would update my file listings!
Of course not Tixy ;o) I do however have the persons name that i spoke to and the date - and as they say they 'record all phone calls for training and monitoring purposes' so its worth a try at least!
I feel so positive about being debt free, anything to build my rating back up is worth a go!Debt Free Target: December 2011
:T I did it in November 2011!! :T0
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