Experian credit expert report questions

just.me_3

Hi there

I wondered if someone could clarify a couple of things for me please?

I have a few settled accounts on my credit report, where the 'status' does not show 'Satifactory'. This is just simply blank, even though the account is paid and settled in full. These were accounts which were cancelled under a cooling off period, and the monthly update shows 'U' as the creditor has not provided an update to Experian. Does this have an impact on how lenders view these accounts, or do they purely go off the 'settled' status?

I also have another question - if these were cancelled under a cooling off period, should they even be on the credit report? They are not on Equifax or Noddle.

In addition to this, I have a Halifax current account which defaulted and is recorded on my credit file, which went to a collection agency, and both records show on my credit file. I have been informed that the Halifax record should have been removed if the debt has been sold on to another party. I don't know whether Halifax need to remove this, or Experian?

I have checked Equifax and Noddle, and neither of them have the Halifax default, they just have the collection agency. They used to both show the Halifax account.

Many thanks

Experian_company_representative

Hi Just.me,

A few questions there, hopefully I can help with!

A status code of "U" on a credit account means "Unclassified and companies will use it in a number of situations including when an account has been set up but payment isn't due yet.

The status code of "U" is not seen as negative, and if the account was cancelled in a cooling off period then a "U" would be correct, because although the account was opened, no payment was due before it was then closed. The account would still be recorded on report, but should be marked as settled showing it was closed.

When an account defaults the company can pass it to a collection agency. The agency may also record it on your report, but the original account should be marked as satisfied and "Debt Assigned", so lenders will know that the debt has been passed on.
If it is not showing this [EMAIL="uksocialsupport@experian.com"]contact [/EMAIL]us with your details so we can get it queried for you.

Hope this helps!
Regards
Neil