Reading my credit file, please help

backontrack83

Can someone tell me how to read my credit file please.

In this example it was paid in 2017 but says it was settled in 2013. Im so confused. In the prcoess of applying for a mortgage and very confused as to what they will be looking for etc.



Thank you
Backontrack83

Willing2Learn

Was the account sold to a DCA in August 2013?
Did you pay a DCA partial settlement or did you pay CapitalOne direct?

backontrack83

Thank you.
Yes the account is defaulted. Im aware that the 6 years is from either settlement or date of first default bit

I just dont understand how the account can show as settled in 2013 but not paid off until 2017? Is there something I am missing?

Again thank you for replying.

backontrack83

Just seen the second reply. In all honesty i cant remember if I paid Capital one or if it was sold on.

backontrack83

Added to say it was in a DMP.

cymruchris

I would expect it to drop off on the 2/8/2019. So if that's your only bad mark - and if you can wait until August - that;s when I'd make my application.

HeCh

Just wanted to add that I recently applied for a mortgage and had historic credit agreement defaults that had dropped off my credit files. However, many mortgage applications still ask specific questions about these sorts of historic financial misdemeanors such as 'Have you ever defaulted on a credit agreement, had an IVA, DMP, CCJ etc'.

The view of my broker at the time was that as my defaulted credit agreements were paid in full and no longer appeared on any of my three credit reports it was not necessary to declare them. I felt that doing that would be lying and if discovered could be perceived as mortgage fraud (possible Cifas marker risk) and so was completely honest and answered the question directly and fully. I got the mortgage anyway with the bonus of a clear conscience.

backontrack83

Thanks everyone. I can assure you I am not out to 'get away with anything' I love that peoppe think this is what is happening when you ask certain questions.some of us are just curious how it all works. I have been honest with my broker from day one and will continue to do so, I was just curious how to read the file. The question I still have of 'How can it be shown as settled in 2013 when it wasnt fully paid until 2017?'

Im guessing because it might have been sold on to a DCA and so Capital One according to them meant it was paid in 2013 but I continued to pay the DCA till 2017 and it was updated.

Thanks for the replies though much appreciated.

HeCh

Apologies backontrack83 if my post came across in that way. I genuinely wasn't suggesting you were trying to get away with anything and hope that you manage to resolve your query and that your mortgage application is successful.

I was really just trying to highlight something from personal experience that I had never appreciated when I applied for a mortgage. In my naivety I had always thought that once you had served your time in the credit wilderness for financial difficulties (self-inflicted or otherwise) of the past and your recorded credit history was once again clean, healthy and positive then you would be considered to be rehabilitated by credit providers. I had no idea that questions could be asked about events that were no longer recorded by the CRAs. As I said, I was very naive at the time.

backontrack83

HeCh gosh no need to apologise. I take your point this mortgage lark is a minefield and any help/guidance is much appreciated.

You have to be thick skinned in these types of forums as many people seem to think little of others. Then there are those trying to help and those bumbling along.

I was not offended in any way, its not the first question I genuinely asked about mortgages and a process that I was seemingly accused of trying to deceive the lender lol.

Again thanks for the info very helpful.