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Help with my report

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Hi,

Sorry if this is not the place but I am looking for some help with my credit report.

I have been using equifax and have after reviewing my credit file come out as a good credit report with no defaults or missed payments on the record, I have a good score for my credit score after paying the additional charge for this.
However I am slightly confused and slightly concerned with 3 entries on my report which are noted down as settled, however I have never had a delinquent balance nor have I missed any payments on these entries.
I have read that creditors prefer active entries to settled entries which is fine as there are several active entries on my record.
from my very simple understanding of credit reports saying something is settled seems like it refers to a settled debt to which I have non, nor had any with these 3 companies.

The main reason I am concerned is that I don't want these settled entries to affect a future mortgage application.

Any help with this would be greatly appreciated.


Thanks

Paul

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Settled debts are fine if you paid it in accordance with the terms. However, if you do not recognise them, then you may have a problem.

    And please stop paying for the score. It's worthless.
  • Thanks for responding, I was just concerned as these appear to be accounts that I have opened and since closed but have never been in any debt on them, so is it correct in thinking that settles will not have an adverse affect on my credit file.

    Thanks for the heads up about the credit score I guess this is just a money making swindle by the report agencies then I definatley wont purchase another one in that case.
  • Kittycat1981
    Kittycat1981 Posts: 168 Forumite
    If they are accounts that YOU opened and closed and you are fully aware of them then its nothing to worry about. Settled just means you had a credit balance with them, paid it off - closed the account- "settled"

    Each time you close a credit card account, end a phone contract, finish paying car finance pay off a loan or any other credit facility - the account becomes settled. (obviously goes without saying that it was paid back in full)
    Finally dealing with debt: 01.01.2015 -£10,562.:(
    01.02.15-£8820 01.03.15-£8066 01.04.15 £7036 01.05.2015- 6128 01.06.15 £4957

    Pay ALL your debt off by Xmas 2015! #59- £5605/[STRIKE]£10,562[/STRIKE] 53%
    2015: Sell £1000 #69 £510.97/1000
    Virtual sealed pot challenge #24 £32.19/£300
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