Delinquent Account?

hollip0p

Hi all,

I have already posted this in the Credit File sub forum but the DFW crew seem to be a lot more active so thought I would also re-post here!

Can someone please advise what a delinquent account is, and how long it will stay on my credit file?

I have a couple of defaults but have now noticed a delinquent account as well. It doesn't show a delinquent date, like my defaulted accounts do, so how do I know when it will drop off?

Is the effect on my credit file as bad/worse than a default?

Thanks!

sourcrates

In everyday use, any account past due is a delinquent account. But in the credit card industry, a card issuer usually will not report an account as delinquent until at least 30 days have gone past the due date during which the cardholder has not made at least a minimum payment.

It would show as delinquent for six years.

Or, if a balance is still outstanding, you can include removal of the credit file entry as a part of any settlement negotiations.

National_Debtline

Hi

This Experian page says that delinquent accounts are those with late or missed payments as sourcrates says. It says that the late or missed payments will show for 7 years.

www.experian.com/blogs/ask-experian/category/credit-advice/loans/delinquency/

James
@natdebtline

sourcrates

James I think it's 7 years in the US, the page in the link was from Experian dot com.

National_Debtline

sourcrates wrote: »

James I think it's 7 years in the US, the page in the link was from Experian dot com.

Well spotted, thanks sourcrates.


James
@natdebtline

hollip0p

Thanks guys.

How badly do you think a delinquent account will affect my chance of obtaining credit in the future?

I am nearing the end of a DMP and was hoping to be able to apply for a mortgage in a couple of years, once my defaults have dropped off my credit file. Do you think a delinquent account will ruin my chances of that?

If it makes a difference, the account is a QuickQuid loan of approx £300.

Thanks again for your help - very much appreciated!

sourcrates

hollip0p wrote: »

Thanks guys.

How badly do you think a delinquent account will affect my chance of obtaining credit in the future?

It will only show for 6 years.

What is the default date on the account, or hasn't it defaulted yet ?

hollip0p

sourcrates wrote: »

It will only show for 6 years.

What is the default date on the account, or hasn't it defaulted yet ?

Hi,

It hasn't defaulted - it just shows as delinquent.

There is no specific date showing (my defaults show dd/mm/yyyy), but if I go back and look at the payment status history it looks like it became delinquent in May 2015.

sourcrates

hollip0p wrote: »

Hi,

It hasn't defaulted - it just shows as delinquent.

There is no specific date showing (my defaults show dd/mm/yyyy), but if I go back and look at the payment status history it looks like it became delinquent in May 2015.

Can i ask are you paying anything towards this debt at the moment ?

hollip0p

sourcrates wrote: »

Can i ask are you paying anything towards this debt at the moment ?

Yep, they're getting around £30 a month out of the £410 I pay for my DMP.

sourcrates

hollip0p wrote: »

Yep, they're getting around £30 a month out of the £410 I pay for my DMP.

Then it may benefit you if you write to the creditor asking them to default your account, and backdate it to the original date you became unable to meet the payments, which i think you said was May 2015.

That way you can be sure it will vanish from your file by early 2021, and removes the element of doubt associated with it at present.