On file for 6yrs?

samandmillie

Hi, could someone please clarify....if say, I had a debt that started in 2007, had a couple of late payments in 2008 then paid off the debt in jan 2011, at what point will the debt be removed from the file? Is it Jan 2016?

If yes, then will the late payments still show to any new lenders if they search my file even though they were 7yrs ago (I.e 2008)?


Many thanks

fermi

Will be removed Jan 2016 assuming not defaulted.

Yes, the 6 year history prior to settlement in 2011 will show until it drops off in 2017.

IainHL

Much as I hate to disagree with you Fermi, surely if there was no default registered the record would disappear 6 years after settlement, that is January 2017?

samandmillie

Thanks for clarifying. So it stays on your file for 6yrs after settlement and until that 6yrs is up you can see the whole payment history of the loan / card / whatever it is?

matttye

samandmillie wrote: »

Thanks for clarifying. So it stays on your file for 6yrs after settlement and until that 6yrs is up you can see the whole payment history of the loan / card / whatever it is?

6 years from date of settlement or default, whichever one applies.

Rob_Mogs

It'll drop off 6 years after the date of first default.

Experian_company_representative

Hi Samandmillie,

It would depend on whether the account was recorded as defaulted when the payments were missed, a defaulted account would come off six years after the date of the default.

If it did not default and late payments were recorded against it, then the payment history would be "frozen" when the account was closed. Any lenders searching the report would see payment history as it was when the account was closed. The account will remain on the report for six years from the settlement date.

So although the late payments occurred over six years ago, they could still be visible, although the impact they have is likely to be small as they are now quite old and on a settled account.

Kind regards
Neil