Do late payments drop off file after 6 years too?

hieveryone

Hi all

Do late payments stay on your file after 6 years?

I can see late payments recorded on my Equifax file from May 2007, so will these be taken into account or not?

Thanks

happy_bunny_2

Should only show the last 6 years history, I would raise a complaint with Equifax to remove them.

hieveryone

Thank you -

Should have mentioned these are for closed accounts also.

matttye

hieveryone wrote: »

Thank you -

Should have mentioned these are for closed accounts also.

They will be visible for 6 years from the closure date.

The entire account stays on your file for 6 years from the default or closure date, but if the account is closed, it shows six years of account history prior to the closure date. This means it could show data as long ago as almost 12 years.

As a defaulted account is technically still open, if the account was in default the late payments would have dropped off.

hieveryone

Thank you - Equifax reports are so hard to understand.

I do have a defaulted account from 2008 - but this shows

Jan - Green
Feb - Green
March - Green
April - 6 payments late
May - 6
June - 6
July - 6
August - Defaulted

Shouldn't it say 1, 2, 3, 4 default? As it was 'up to date' until the April?

happy_bunny_2

Possibly, but irrelevant really as that default is the key. The account will drop off 6 years from then.

matttye

hieveryone wrote: »

Thank you - Equifax reports are so hard to understand.

I do have a defaulted account from 2008 - but this shows

Jan - Green
Feb - Green
March - Green
April - 6 payments late
May - 6
June - 6
July - 6
August - Defaulted

Shouldn't it say 1, 2, 3, 4 default? As it was 'up to date' until the April?

Yes but were you actually one month or six months late in April 2008? If you were actually six months late, they would probably just add these late payments: -

Nov 2007 - 1 payment late
Dec - 2 payments late
Jan 2008 - 3 payments late
Feb - 4 payments late
March - 5 payments late

Best not to look a gift horse in the mouth.