Defaults

reliquit

Can I just confirm that I understand this correctly. I had a mortgage with Natwest that was 3 payments in arrears in 2012, but settled and eventually closed in 2016. So the information will stay on the CRA files until 2022 (2016 +6 years), and ALL the information relating to that account, including the fact that it was 3 months in arrears in 2012, will be visible until 2022. If that is the case, if I seek a new mortgage now, how much weight will be given to that 10-year-old data?

[Deleted User]

Your files only show the last 6 years, so the 2012 arrears won't be visible.

reliquit

Deleted_User said:

Your files only show the last 6 years, so the 2012 arrears won't be visible.

That is what I originally thought, I expected that there would be no data on my CRA files more than 6 years old. But this (slightly redacted) screenshot taken from my Equifax Report today, clearly shows data going back to 2012 for one account. Do I have a right to request them to remove this?

MovingForwards

reliquit said:

Deleted_User said:

Your files only show the last 6 years, so the 2012 arrears won't be visible.

That is what I originally thought, I expected that there would be no data on my CRA files more than 6 years old. But this (slightly redacted) screenshot taken from my Equifax Report today, clearly shows data going back to 2012 for one account. Do I have a right to request them to remove this?

No, the account wasn't defaulted and therefore stays on for 6 years from the date the account was settled.

LordSomebody

MovingForwards said:

reliquit said:

Deleted_User said:

Your files only show the last 6 years, so the 2012 arrears won't be visible.

That is what I originally thought, I expected that there would be no data on my CRA files more than 6 years old. But this (slightly redacted) screenshot taken from my Equifax Report today, clearly shows data going back to 2012 for one account. Do I have a right to request them to remove this?

No, the account wasn't defaulted and therefore stays on for 6 years from the date the account was settled.

But does ALL the data stay on? 6 years looking back from closure for 6 years following closure? Or should it drop off?

If I open an account in 2010 and close it in 2014, and look at it in 2019... Will it show 2013 and 2014 to closure? Or will it show the whole history from 2010?

I thought it would only show the months within. 6 years of whenever you look at it (and so the whole account disappears six years from closure), but the above two posts suggest otherwise.

MovingForwards

It shows the date it was opened, the date of default, date of settlement, date of account closure and the last 6 years of history eg default, zero balance, then nothing for the remaining time.

When the 6 years from default arrives the whole thing just vanishes from your history as if it never existed. Although it depends on when the credit report is reproduced as I've had some vanish a week before the 6 years are up.

reliquit

MovingForwards said:

It shows the date it was opened, the date of default, date of settlement, date of account closure and the last 6 years of history eg default, zero balance, then nothing for the remaining time.

When the 6 years from default arrives the whole thing just vanishes from your history as if it never existed. Although it depends on when the credit report is reproduced as I've had some vanish a week before the 6 years are up.

But in my case the account was never defaulted, so the six years is from date of closure. But then I was surprised that it appears to mean that if the account was closed 5 years ago and had been running for 6 years, then all that 6 years data wold be visible even if that meant that the oldest data visible was 11 years old. This feels to me like it is against the spirit of the legislation if not the letter of it.