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Experian report may be silly Q
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sistafromanothermista
Posts: 2,230 Forumite
Morning 
I've just received my report through today (:T only 2 '1's throughout the report quite chuffed) and quite a few items have 'settlement date' does this mean the account is closed? if so it looks as if they stay on report for 6 yrs, does this affect my credit rating in a negative way at all?
Thanks
I've just received my report through today (:T only 2 '1's throughout the report quite chuffed) and quite a few items have 'settlement date' does this mean the account is closed? if so it looks as if they stay on report for 6 yrs, does this affect my credit rating in a negative way at all?
Thanks
DEBT FREE AND PROUD
'Better to remain silent and be thought a fool than to speak out and remove all doubt'
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Comments
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Settled accounts are closed yes - and they will stay ion there for 6 years yes.
Whether they affect your rating depends what state they were in before the settlement. if they were all defaults, or missed payments they will affect your rating yes - though how much depends on the lender looking at the report and will deminish with time. Generally settled accounts are ignored once there 3 years old or so.0
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