Credit file clean up - Account status - Delinquent??

Brucie_Bonus

Hi,

I've been looking into tidying up my credit file and getting my finances back on track and i've discovered an entry dating back to Feb 2003 when i settled an unsecured loan with Halifax.
"Account status delinquent"

What does this mean?

Basically i was struggling with the repayments back then and made an arrangement with Halifax to pay back a reduced amount each month.
Later i was able to re-mortgage and settle the loan but it would appear this is still having an adverse affect on my credit rating.
I'm going to call Halifax to look into the possibility of having this entry removed from my credit file. I believe it is so long ago that it has no bearing on my circumstances now but would like to know what this means.

I can only assume its bad

Also....you've got me started now :rolleyes: i entered a notice of correction on my credit file about 3 years ago to try and explain this Halifax entry and period of financial hardship but i've since read that this is actually frowned upon by lenders and that it just acts as a flag (An application for credit will never actually go through without delays/ going to underwriters to review because an entry of correction is on your file) which they tend to stay clear of . Just thinking these are people "making excuses" for why they missed payments or had to make payment arrangements.
If this is true i will be asking for this to be removed from my credit file.
Unfortunately i can't remember which agency i filed it with :rolleyes:

Thanks in advance for any help just nice to get that off my chest

dexters_mum_2

I've never heard of or seen that. I don't know what it means but which credit reference agency did you use, they may be able to inform you but I think you are doing the right thing in contacting Halifax.

Pink_butterfly_3

Regarding the 'Account status deliquent' -

Delinquency may be indicated on any account that is currently delinquent or any account that is currently in good standing but has delinquency in the past.

Accounts that have gone into derogatory status but were subsequently satisfied (for example, paid charge-off, account paid after foreclosure started) still have a derogatory event associated with them, which results in a reason code indicating derogatory data i.e. Account Status Deliquent.

Hope this helps.

Brucie_Bonus

Thanks for the replies.

Hopefully Halifax will agree with my thinking and remove it from my credit file

Brucie_Bonus

I rang the customer helpline this morning and was advised (after consultation with the loan dept.) that they are required by law to keep any financial dealings on file for 6 years.
Whilst i knew this was the case in terms of detail staying on your file for 6 years, i did think that you could request an entry be removed by contacting the bank/building society in question.

Anybody know if this is the case and point me in the right direction?
Or am i just chasing my tail?

Still waiting for a response from Experian regarding my notice of correction.....

CLAPTON

obviously they are not required by law to keep the details on your credit record for six years but i'm unclear why you think they should remove it.
if i understand you properly the information is correct.

Brucie_Bonus

CLAPTON wrote:

obviously they are not required by law to keep the details on your credit record for six years but i'm unclear why you think they should remove it.
if i understand you properly the information is correct.

Obvious to who?
I'm not a specialist on this but it is fact that these details are kept on your credit file for 6 years.
My point is, i was under the impression you could request a specific entry to be removed.
If i've gotten the wrong idea then fine.
According to Experian i've not.
I can write to, in this case Halifax, and ask them to consider removing the entry as i feel it has no bearing on my situation now.
The information is 4 years old correct or not.

According to Halifax i have to ask Experian to remove it.
Interesting that whilst both can't be right, neither Halifax or Experian has stated that it cannot be done.
I'm with Experian on this one, as they told me today, the bank/BS provides the information. Experian just report it.