AR on my credit file - Help/

xlnc99

Hi Guys

I was looking at my credit file and for some reason one of my old closed accounts shows AR. I dug deeper and its an old bank account. In 2013 EQ have it as AR for two months and Experian have it as 1 missed payment and then OK for the next month.

This is confusing - Ive never enetered an AR with anyone. This is a bank so could have been i was overdrawn. I cant really remember.

Either way - could i get this changed? How long does stay in my account for i was told 6 years. The account was closed in 2015 but the AR marker was for 2 months in 2013

Any help much appreciated

Willing2Learn

Are you sure you did not enter into a payment arrangement that was not within the original agreement?

The account should be automatically removed from your file six years from the account closure in 2021. However, I believe the AR marker should be removed from your file six years from the date of the marker (ie sometime in 2019). I believe likewise for the Experian missed payment marker too...

xlnc99

As it was a long time ago i honestly cant remember. It was a bank so i am 100% sure it was to do with being overdrawn as that is the only issues i have ever had with banks.

I am just confused why one credit agency has it marked down as a late payment and the other as a AR. One of them is mistaken. Should the AR have been removed automatically by now is it was March 2013 according to my file

xlnc99

Does the missed payment marker in my file also change after 6 years? Are you sure about that? My account was closed in 2015 and the missed payment marker is in 2013.

Should the AR and both missed payment marker now be removed from my file? If so, what would they change it too? I thought it would stay on file until my account is closed which would be 2021

Willing2Learn

Technically, a late payment could be considered a missing payment. As far as I am aware, both Equifax and Experian say the markers will be removed after six years. On that basis, I would contact them and ask for the markers to be removed. Even if the markers were not removed, six years is a long time, and their impact on how lenders would view it would be minimal...

xlnc99

I will get in touch with them but im not sure what they can remove it too? They cant change it to paid as they are not allowed too.

This is tricky

xlnc99

found this from Check My File:

Late payments remain on Credit Reports for a period of six years, or for six years after an account is closed – whichever is longer.

That seems very harsh to me! Punishing people who have late markers from maybe 10 years ago and it will still be visible on your credit account until it is closed down

System

AR are the devil's work. It will be marked on your file until 6 years after the account is closed. Not the last date of the AR.

In many ways it's worse than a default.

[Deleted User]

If you were on an arrangement then it’s marked correctly.

For example if you fell behind and contacted the lender and said “I’ll pay it back over the never 2 months” then you’ve made an arrangement and it’s marked as such.

xlnc99

beany_bot wrote: »

AR are the devil's work. It will be marked on your file until 6 years after the account is closed. Not the last date of the AR.

In many ways it's worse than a default.

Ive never had an AR! Its silly they put this down. On top of that it was only for one month and was fine the following months.... Plus it was in 2013

surely lenders wont look at this negatively?

xlnc99

!!! wrote: »

If you were on an arrangement then it’s marked correctly.

For example if you fell behind and contacted the lender and said “I’ll pay it back over the never 2 months” then you’ve made an arrangement and it’s marked as such.

Ive never entered in such arrangement. What are the protocols to entering an arrangement?