old account still open on credit file

GlitterQueen_2

There is a car finance account on my credit file which was last acknowledged in June 2003 when the car was returned to the finance company. From 2007 to January this year the car finance company put monthly '6' markers on my account. They have stopped this now but the account still shows as open. I have been lead to understand that if there is any remaining debt on that agreement then the debt would be statute barred now anyway. This is the only item of debt recorded on my credit file is there any way I can remove it?

happy_bunny_2

Last acknowledged or paid in 2003 its well SB.

When you say they stopped, what do you mean? What does it say/ the account history say?

You need to complain as accounts Stay on your report for 6 years from settled or default and there are clear guidelines for time to apply defaults. This account should have been gone years ago, unless you came to some arrangement, in which case its still wrong.

http://www.ico.org.uk/~/media/documents/library/data_protection/detailed_specialist_guides/default_tgn_version_v3%20%20doc.ashx

matttye

Agreed with happy_bunny, complain first to the company and then to the financial ombudsman.

I don't know how they can justify reporting late payments for six years. They should've defaulted you years ago if you do indeed owe them any money.

GlitterQueen_2

When I say stopped I mean the company stopped recording late payment markers on my file but there are still markers for the years 2007 - January 2013. 2007 is 4 years after the car was returned. Why would a company start to put late payment markers on a credit file 4 years after any other activity? I'm really unsure what to do. I want to get to the bottom of it but I have people saying I should leave it because if there is a debt it is unenforceable now and if i contact the company they will take me to court. I'm wary of getting into a my word against theirs situation since I don't have any paperwork from this finance agreement any more. Can someone tell me how to proceed?

fermi

happy_bunny wrote: »

You need to complain as accounts Stay on your report for 6 years from settled or default and there are clear guidelines for time to apply defaults. This account should have been gone years ago, unless you came to some arrangement, in which case its still wrong.

http://www.ico.org.uk/~/media/documents/library/data_protection/detailed_specialist_guides/default_tgn_version_v3%20%20doc.ashx

And from that:

A record showing a series of payments as six months in arrears when this does not reflect the real payment history should not be used as an equivalent of a default.

Companies do do this though, as it enables them to screw your credit record for much longer.

See: https://forums.moneysavingexpert.com/discussion/4070713 for similar cases where people have complained and had them removed.