Quick question on when things leave my file

PanickingHARD

Hi All,

Used to come on here a lot, but have been using lass and less over the last 5 years as I've FINALLY got a handle on my debts... Almost nothing left (£6k, left of totally manageable debt... from over £95k 6 years ago!)

I've got a question on old/aged defaults that I can't find an answer for anywhere in the search function...

I'm about to close my last 'old' cc account and it has 2 remaining 'late' payments (1's on credit file)... they were about 66 months ago now, so what will happen when I close the accounts? Will lenders see the entire file for the next 6 years, (i.e. the 6 years of payment history at date closed) or will the only see the 6 years of data (i.e. in 6 months time, the old late payments will disappear from my file?

I am asking as I want to know whether I should close the account the moment the balance is gone, or whether I should leave it open until the old issue have gone completely and then close it (about 6 months time)...

I'm pretty sure I did it the wrong way round with another problem card a few years ago in a very similar situation and I think it caused lenders to be able to see defaults for longer than they needed to...

I have the financial discipline now not to get into any further issues, so just the 'technical' stuff would be a great help...

Thanks in advance!

PH

fermi

According to Experian the 6 years of history immediately prior to closure gets displayed for a further 6 years from the that closure date. In other words it's frozen in the state it was on that date and that all stays for 6 years.

So if something negaive is to drop off soon then may be worth leaving open.

Even Experian admit that is a bit odd.

Saying that old negatives have a rapidly diminishing impact with time and compared to recent positive data, so it may not matter much anyway.

PanickingHARD

Thanks Fermi...

Does seem very odd... I think I'll just wait the extra few months out and make sure it's gone for good... Even if it's just so I, personally, have to ever see it again!!

It's 12 months until my big 'problem' card disappears (settled in full 5 years ago), and 10 months til this one, so I might as well just leave it, I think.

Probably!