Late payments v defaults and linked addresses

User+name_3

I would be so grateful if somebody could clarify the following for me

1. If I have late payment (up to one month marker) on credit file - is that a default or are defaults only payments missed altogether (if that makes sense?)

2. Also, my online Equifax report does not show linked addresses (which is a good thing for me). However, will a lender be able to see this information?

Three more questions while I am at it!

3. Can lenders see info such as balance and payment history?

4. When do late payments drop off? Is it six years from the date the payment was made or six years from when the account was closed?

5. Are late payments less significant after say, three or five years than they are more recently?

Thanks so much :beer:

LeeSouthEast

1. A late payment is a late payment; it isn't a default.

2. Just because Equifax doesn't show it, doesn't mean CallCredit/Experian haven't linked those addresses, or that someone won't in the future. If there are skeletons lurking in those closets, they can come out at any point.

3. Yes.

4. The short answer is '6 years' but there are lots of different answers and effects based on settled/unsettled, open/closed, etc as to the effect it'll have over time.

5. Absolutely. But it is down to each lender as to how, if at all. Some prime lenders (e.g. Amex Charge Cards) decline with any hint of bad credit ever. Others (e.g. evidenced Barclaycard applications on the forums) lose interest in late payments 3+ years old assuming everything else is good and been kept in order since.