Delingquent Account

Arleen

bamgbost wrote: »

Well I did have an issue and notified them. And said I will get back on track, which I currently am. However, do they not have a responsibility at some stage to actually tell me the impact it has on credit rating. I plan to try for a mortgage before year end, and have done a lot of work to resolve / rectify a lot of issues in recent months. Finally getting in a stable and good place... to go and see this staring me in the face! Quite annoying.

How can you afford a mortgage by end of this year, and yet struggle to make payments on existing obligations just few months ago?

bamgbost wrote: »

The plan was to clear all my other debts, car finance, loans, credit cards and have just this one left when applying. This is all on track, just didn't know they had listed me as delinquent. aaaargh! How bad an impact is this? Any ideas?

Then do your research next time. As for how much does it matter, nobody knows as we don't know lender crtierias. And there is little reason to worry about it as you can't change it anyway.

StopIt

bamgbost wrote: »

Well I did have an issue and notified them. And said I will get back on track, which I currently am. However, do they not have a responsibility at some stage to actually tell me the impact it has on credit rating. I plan to try for a mortgage before year end, and have done a lot of work to resolve / rectify a lot of issues in recent months. Finally getting in a stable and good place... to go and see this staring me in the face! Quite annoying.


The plan was to clear all my other debts, car finance, loans, credit cards and have just this one left when applying. This is all on track, just didn't know they had listed me as delinquent. aaaargh! How bad an impact is this? Any ideas?

It doesn't matter what you told them, it matters to your credit history that you were not meeting your financial obligations. Yes, it sucks but the lender has no obligation to point out that yes, if you fall behind on payments it'll be recorded in your credit history.


Again, nobody here is judging you but you have to realise that you can't seriously expect anything different here? Again, you could've been defaulted in this time and be facing a DCA! From your story, you're not on track yet but now making at least the normal monthly payment so aren't getting further behind.


How many months are you actually behind once token payments/current overpayments are taken into account? Have you contacted the lender to arrange getting any arrears cleared?

toc25

I had a delinquent account, I had no idea what it was so i got in contact with experian. They told me that because I had late payments on the account (all paid but paid late) and the account had closed before I had 12 months of no late payments the account then gets classed as delinquent. So basically to avoid this happening you have to keep an account going with no missed payments after the late or missed payments for 12 months before closing it.

bamgbost

So are u saying.... catch up on arrears asap (i.e. now).... keep on top of payments for 12 months, and account stops being delinquent?

StopIt

bamgbost wrote: »

So are u saying.... catch up on arrears asap (i.e. now).... keep on top of payments for 12 months, and account stops being delinquent?

That's what it looks like, but someone from Experian posts along here from time to time and it would be nice for a more proper classification from them!