Arrangement to pay

jurgen19

hi all ive just been looking at my wife’s credit reports and on Equifax it is saying she has an arrangement to pay from July 2016. But it doesn’t show on her Experian report. I’ve read somewhere that if the account stays open it drops off Experian after 3 years and Equifax after 4 years, any truth in this? 
Thanks

sourcrates

No, we have a uniform across the board time frame in the UK of (at least) 6 years.

An arrangement to pay will stay on your file for 6 years after you make the final payment to that account, open or closed.

jurgen19

sourcrates said:

No, we have a uniform across the board time frame in the UK of (at least) 6 years.

An arrangement to pay will stay on your file for 6 years after you make the final payment to that account, open or closed.

So in this case it’s United utilities and it has 1 single Arrangement to pay in July 2016. So this account won’t ever be closed and we won’t have a final payment as we always use water.will that marker always be on her record

SnowTiger

jurgen19 said:

sourcrates said:

No, we have a uniform across the board time frame in the UK of (at least) 6 years.

An arrangement to pay will stay on your file for 6 years after you make the final payment to that account, open or closed.

So in this case it’s United utilities and it has 1 single Arrangement to pay in July 2016. So this account won’t ever be closed and we won’t have a final payment as we always use water.will that marker always be on her record

An arrangement to pay for one month is unusual.

It will drop off your wife's credit files after six years - around July 2022.

I doubt a single arrangement to pay marker will have much affect on her ability to get credit, especially as it was over four years ago and the account has, presumably, been maintained up to date since then.

jurgen19

SnowTiger said:

jurgen19 said:

sourcrates said:

No, we have a uniform across the board time frame in the UK of (at least) 6 years.

An arrangement to pay will stay on your file for 6 years after you make the final payment to that account, open or closed.

So in this case it’s United utilities and it has 1 single Arrangement to pay in July 2016. So this account won’t ever be closed and we won’t have a final payment as we always use water.will that marker always be on her record

An arrangement to pay for one month is unusual.

It will drop off your wife's credit files after six years - around July 2022.

I doubt a single arrangement to pay marker will have much affect on her ability to get credit, especially as it was over four years ago and the account has, presumably, been maintained up to date since then.

Many thanks for the reply, we’ve got a mortgage appointment on Tuesday and this has come out the blue really, we looked at all her files and there was a missed payment registered on her Equifax report from that date. But then she signed up to check my file .com and showed it as an arrangement to pay! Which we have no clue what one of those were and never have heard of them before. After doing some research I read that they are a very bad marker to have and are on parr with a default. We are now extremely worried this is going to end our hopes of a mortgage.

fatbelly

You say it doesn't show on Experian and that is still the main CRA, so it's likely you'll be OK.
I can check credit files at work and the two I can check are Experian and TransUnion
Nevertheless she should still contact UU and ask them what they are playing at.

jurgen19

fatbelly said:

You say it doesn't show on Experian and that is still the main CRA, so it's likely you'll be OK.
I can check credit files at work and the two I can check are Experian and TransUnion
Nevertheless she should still contact UU and ask them what they are playing at.

No nothing on Experian whatsoever and the same for TransUnion. The only 1 out the 3 showing it is Equifax. I find it all very strange, why wouldn’t the other 2 have the same marker? Do UU only report to Equifax?