Account closed... what’s next?

Ash1487

Hi guys,

Apologies if this isnt in the correct forum! I recently received a letter from a debt collection agency for a credit card I didn’t recognise... after speaking to them today, they have decided to close the account as the debt is so old (8 years) that they were unable to verify what address it was opened at etc.
Where does this leave me standing with my credit report? Will the debt be removed, or do I need to speak to someone to make sure this is taken off my report?

boo_star

If the debt is 8 years old is it even showing on your credit report?

Ash1487

Yes, should it not be? And would it have brought my score down somewhat also? Sorry I’m a slightly clueless when it comes to credit reports

Willing2Learn

Is the account showing as defaulted on your credit report?
If so, what is the date of default that has been recorded for the account?

PixelPound

Ash1487 wrote: »

Yes, should it not be? And would it have brought my score down somewhat also? Sorry I’m a slightly clueless when it comes to credit reports

Don't look at the opened date but the defaulted date. If it's showing on your report then all likely it was defaulted less than six years ago.

Ash1487

It’s not showing as defaulted, but the debt collection agency advised it defaulted in January 2011..

Willing2Learn

If the account was defaulted during 2011, then the account should have been automatically removed from your credit files, six years from the date of default (2017).

Have you checked your two other credit files to see how the account is reported with them?

Ash1487

Ah that’s odd then... it only appears on my Experian report, alongside a £60 phone bill from 2012, which was settled a few months ago... the credit card & phone bill don’t appear on the other two.
I’m just concerned that this could have lowered my credit score!

Willing2Learn

If the account is for a credit card of which you have no knowledge (which is what you said in your OP), then you should ask the creditor to remove the entry from your credit file. The date of default would be irrelevant if the account is not even yours.

Ash1487

Okay then, so it would be wise to give them a call back to make sure this will be removed from my credit file?

Willing2Learn

If it were me, I would write to the creditor, with a subject title of "Complaint". I would make it clear in my letter that the debt is not mine and that I expect the entry on my credit file to be removed accordingly.