can I sue Next

UsetheFORCE

be96erj wrote: »

Hi,

I have an adverse credit rating because Next has kept on their file that I once missed a payment (which I paid as soon as got back from holiday). This (according to experian, has been kept on file for longer than is is allowed).

My question is can I sue Next? What are the chances of success?

thanks

Why do people post only some of the information?

When did you miss this payment? Experian have told you this???

SnowTiger

be96erj wrote: »

I have an adverse credit rating because Next has kept on their file that I once missed a payment (which I paid as soon as got back from holiday). This (according to experian, has been kept on file for longer than is is allowed).

My question is can I sue Next? What are the chances of success?

Why sue Next? Experian hold the information and have told you they're holding it for longer than is allowed.

I doubt suing Next would be successful if the information they passed to Experian was correct.

gb12345

SnowTiger wrote: »

Why sue Next? Experian hold the information and have told you they're holding it for longer than is allowed.

I doubt suing Next would be successful if the information they passed to Experian was correct.

I think that the OP should go for the root of the problem.

They should be sueing themselves for missing the payment in the first place and thuse destoying their perfect credit score.
If this one mistake hadn't happened they could have had a perfect 999 score and been guaranteed any credit they desired.:cool:

YorkshireBoy

UsetheFORCE wrote: »

Is it not upto 12 years???

As far as I am aware, it is no longer just 3 years payment history they keep on record but 6???

It's been a while since I got my £2 statutory reports, but from memory they used to show the last 36 (Experian) or 48 (Equifax) months' status as...

00000000000000001000000000000 etc

However, they also have a text string saying something along the lines of...

"In the last 36 months of account activity the number of status 1-2 is 0 and the number of status 3+ is 0."

This is why it's often said to be better to keep a card open (at least for 3 years or so) if there's some bad history on there, rather than close it.

So in practice, the longest the missed payment can be seen is 9 years (assuming the lenders see the same as we do). However, I can't see a solitary missed payment from 4 years ago affecting an application at all, let alone one from 9 years ago.

As I say, the above is based on what they used to do. Is it still the same? Anyone have any more recent knowledge?

Hominu

You can sue anything or anyone (as long as it/they has/have nipples). I sued my cat once, but he didn't pay up, and then when the demand letter came through the post box, he shredded it!

UsetheFORCE

YorkshireBoy wrote: »

It's been a while since I got my £2 statutory reports, but from memory they used to show the last 36 (Experian) or 48 (Equifax) months' status as...

00000000000000001000000000000 etc

However, they also have a text string saying something along the lines of...

"In the last 36 months of account activity the number of status 1-2 is 0 and the number of status 3+ is 0."

This is why it's often said to be better to keep a card open (at least for 3 years or so) if there's some bad history on there, rather than close it.

So in practice, the longest the missed payment can be seen is 9 years (assuming the lenders see the same as we do). However, I can't see a solitary missed payment from 4 years ago affecting an application at all, let alone one from 9 years ago.

As I say, the above is based on what they used to do. Is it still the same? Anyone have any more recent knowledge?

I just had a look at my Statutory report off Experian from last year but then realised that the oldest account on there is 2 years old!, so no help.

SnowTiger

YorkshireBoy wrote: »

It's been a while since I got my £2 statutory reports, but from memory they used to show the last 36 (Experian) or 48 (Equifax) months' status as...

00000000000000001000000000000 etc

However, they also have a text string saying something along the lines of...

"In the last 36 months of account activity the number of status 1-2 is 0 and the number of status 3+ is 0."

Coincidently, I obtained my credit reports recently.

As you say, Experian keep detailed information for the previous three years, plus a summary of the three years previous to that.

Equifax appears to only hold information for four years.

Noddle (Call Credit) appears to keep all information for six years.

Having said that, there's nothing negative on my report. Perhaps, if there was, Experian and Equifax would keep details for the full six years.

The_Boss

YorkshireBoy wrote: »

It's been a while since I got my £2 statutory reports, but from memory they used to show the last 36 (Experian) or 48 (Equifax) months' status as...

00000000000000001000000000000 etc

However, they also have a text string saying something along the lines of...

"In the last 36 months of account activity the number of status 1-2 is 0 and the number of status 3+ is 0."

This is why it's often said to be better to keep a card open (at least for 3 years or so) if there's some bad history on there, rather than close it.

So in practice, the longest the missed payment can be seen is 9 years (assuming the lenders see the same as we do). However, I can't see a solitary missed payment from 4 years ago affecting an application at all, let alone one from 9 years ago.

As I say, the above is based on what they used to do. Is it still the same? Anyone have any more recent knowledge?

Just checked mine from November...Experian reported data up to 36 months for some old cards. The more recent ones (opened 2005+) show up to a maximum of 60 months (5 years).

My longest is a Vodafone account (opened 2004) showing 60 months of data.

So it means a late payment stays on your report up to a maximum of 11 years and not 9 as I previously quoted.

matttye

The_Boss wrote: »

Just checked mine from November...Experian reported data up to 36 months for some old cards. The more recent ones (opened 2005+) show up to a maximum of 60 months (5 years).

My longest is a Vodafone account (opened 2004) showing 60 months of data.

So it means a late payment stays on your report up to a maximum of 11 years and not 9 as I previously quoted.

Bear in mind that what you see isn't necessarily what lenders see.

Experian says:

"Account information
Your report shows what credit accounts you’ve had and whether you’ve made repayments on time and in full. Items such as missed or late payments stay on your credit report for at least three years, while Court Judgments for non-payment of debts, Bankruptcies and Individual Voluntary Arrangements stick around for at least twice that long."

http://www.experian.co.uk/consumer/what-is-a-credit-report.html

The question is, does it show at least three years of account history going back from the current date, or at least three years of account history going back from when the account is closed.

Perhaps James Jones could clarify!

The_Boss

matttye wrote: »

Bear in mind that what you see isn't necessarily what lenders see.

Experian says:

"Account information
Your report shows what credit accounts you’ve had and whether you’ve made repayments on time and in full. Items such as missed or late payments stay on your credit report for at least three years, while Court Judgments for non-payment of debts, Bankruptcies and Individual Voluntary Arrangements stick around for at least twice that long."

http://www.experian.co.uk/consumer/what-is-a-credit-report.html

The question is, does it show at least three years of account history going back from the current date, or at least three years of account history going back from when the account is closed.

Perhaps James Jones could clarify!

I have some old accounts on there that I had for 3-6 years. These were opened between 2002 and 2004. They only had 36 months data reported. So I assume that a change has come into place for accounts opened after around mid 2005. This covers the point relating to what Experian define as the minimum term and "up to 11 years" answers the question of how long payments appear on 'your' report. As you say though, lenders may not see the full period as we do.