Credit file account status

helpdotcom

Hello

I missed a couple of payments at the end of an o2 contract a couple of years ago but paid it and closed the account. However, the account still shows a status as "2 late payments" on my credit file, even though it's all paid. Is this correct?

O2 are insisting that the account status is correct and that it should stay as "2 late payments" and not "satisified", but that doesn't sound right to me. Can anyone offer some knowledge and advice on this, please?

Many thanks
Helpdotcom

Tixy

Which credit reference agency file are you looking at? (as they do differ in terminology)

Does the account on your file show as a nil balance outstanding?
The term satisfied relates to debts that have defaulted and then been paid off.
An account without a default would generally show as settled or closed rather than satisfied.

helpdotcom

I'm looking at the Experian credit expert site. Yes, the account shows as a zero balance and even has a settled date back in 2012 but they won't change the status from "2 late payments".

YorkshireBoy

helpdotcom wrote: »

I missed a couple of payments at the end of an o2 contract a couple of years ago but paid it and closed the account. However, the account still shows a status as "2 late payments" on my credit file, even though it's all paid. Is this correct?

No it doesn't. The account shows that at that point in time your payments "were up to 2 months late". There's a subtle difference.


You will not get the information changed.

helpdotcom

Just checking the report and it says the balance is "settled", the status is "2 late payments" as oppose to "satisfied" which other accounts are showing as and it was updated in August 2014 because they originally had it as an £11 balance which was incorrect.

helpdotcom

YorkshireBoy, the current status, which was updated in Aug 2014 says I have two late payments, which is not the case as the account is settled. Surely it should show as satisfied, for the very nature of the word; I have settled all my debt with them, so surely they should show the status as 'satisfied'.

YorkshireBoy

helpdotcom wrote: »

YorkshireBoy, the current status, which was updated in Aug 2014 says I have two late payments, which is not the case as the account is settled. Surely it should show as satisfied, for the very nature of the word; I have settled all my debt with them, so surely they should show the status as 'satisfied'.

I'll say it again...

YorkshireBoy wrote:

The account shows that at that point in time your payments "were up to 2 months late".

You can't change anything because it's factual information. Think about it...if you could change it now what would be the point in recording a credit history? If this was a credit card you'd have been better off keeping it open, as they only show the last 3 years or so of payment history, so the late payments would have fallen off earlier. However, what's happened with you is that you've closed the account (it's marked as settled) and what remains is a truthful, factual, snapshot in time of your account management with them.