Equifax suddenly re-showing 7 year old late payment

jamesd256

Hi,

Just been trying to get my electoral role registration ironed out.

To my dismay, some 1 month late payments on a student credit card have re-appeared on my Equifax report, having not been there a few months ago the last time I searched.

The account was closed 5 years ago, and the late payments are for more than 7 years ago.

I thought they had to remove them after this time?

Could anyone help me understand my position and best course of action?

Many thanks!

J

happy_bunny_2

I think the account info stays on there for 6 years from when the account was closed. So having late payments visible before closing will stay there.

Wouldn't have thought they would make much difference being that old?

If in doubt, query it with Equifax, or take a look in the help section.

Hazzinho

If the late payment is over 7 years it should not show, complain. If you look at your reports you'll notice old history drops off each month until the account drops off totally.

YorkshireBoy

Hazzinho wrote: »

If the late payment is over 7 years it should not show, complain.

The account will be shown as settled 5 years ago, but will also contain the following wording...

"In the last 3 years of account activity the number of status 1's is 2"

...or some such similar wording.

Which is why it's often better to keep accounts with a poor past management open. Had the OP done this the message would now have read...

"In the last 3 years of account activity the number of status 1's is 0"

At least that's my understanding?

Hazzinho

That seems wrong to me, they shouldn't report any data over 6 years old. From the OP post it sounds like it's showing the actual history. There is no way an account should report a missed payment over 6 years old. After 6 years it's gone like it was never there.

StuC75

But reading the OP suggests it was closed 5 years ago, and that the payments were within the last 3 years of that accounts activity... hence it would appear to be a 'blip' -- as per YorshireBoys comment / and how many may interpret the 6 year timescale..

When was the account activity last updated. More importantly which lender was this with ?

StuC75

Hazzinho wrote: »

That seems wrong to me, they shouldn't report any data over 6 years old. From the OP post it sounds like it's showing the actual history. There is no way an account should report a missed payment over 6 years old. After 6 years it's gone like it was never there.

wrong..

Summary of payment history: In the last 36 months of account activity, the number of status 1-2 is 0 and
the number of status 3 is 0

Note:

Settled accounts are kept on file for six years from the settlement date. The
status history in respect of a settled account relates to the period of time

prior to the date of settlement.

chazzee

Hi, sorry to drag this up, but "The
status history in respect of a settled account relates to the period of time
prior to the date of settlement." - if the status history itself is older than six years, but the settled account has been settled for say four years do prospective lenders see this status history over six years old?

Can I request the agencies to remove it because it is over six years old?

Thanks.