Confused about credit reports

thetime4info

Hi

Hoping someone can help.

I had some late payments on my credit cards and a bank account overdraft about 8 years ago. I thought as they were 8 years old they would no-longer be on my account as they would disappear after 6 years.

However, I have checked my Equifax credit report and they are still showing as I held the various accounts until about 5 years ago.

So I take it the accounts stay on until 6 years from when you cancelled them and will show the late payments even though they are 8 years ago?

If this is the case does anyone know if they will disappear exactly 6 years after the settlement date, or could it be longer? I will soon need to apply for a mortgage and need to know when to time it.

Also does anyone know how a bank (Barclays in particular) would view these late payments as they are so old? After next month all that should be left are late payments of 1 or 2 months.

All help and previous experience of this would be appreciated.

Ta

Tixy

Yes the accounts will drop off your report exactly 6years after the settlement date shown on file.

Whilst a potential lender would be able to see these missed payments they will take in to account the age of them, so far less likely to have a major impact than missed payments within the last few years.

thetime4info

Help!

My equifax credit report still has the late payments for an account that was settled 16.07.08. That is 6 years and 1 day ago. Why has it not automatically disappeared? I have my mortgage appt in 11 hours, and set it specifically so this would have disappeared. Any advice anyone?

Thanks

Saver-upper

Hi thetime4info,
I have no personal experience,but only from reading these forums (and there was a thread about it earlier today),I believe it can take a couple of weeks to not show.

https://forums.moneysavingexpert.com/discussion/comment/66043702#Comment_66043702