Voluntary Termination on Credit Report

msaquib

Hi,

I have signed up to 30 days free trial for Equifax online credit report. Everything seems to be in order except about the following:-

Company: T- Mobile
Start Balance £0
Current Balance £0
Status: Settled
Date Updated: 28/01/03
Start Date: 18/06/2000
Date Satisfied: 07/02/2002

It also shows:-

Customer Account Status StatusExplanation VOLUNTARY TERMINATIONIf it is a mortgage account it indicates repossession.
For other accounts it indicates surrender of the asset. NB Further payments may be due.
Can anyone advice me what Voluntary Termination means? and will this affect me in anyway?

Thanks
M

YorkshireBoy

T-Mobile have closed your account under section 99 of the Consumer Credit Acts 1974 & 2006, because you returned an asset having paid more than half the total price on an HP agreement*.

This entry looks like it will fall off your credit file in just over a week's time.


* Source: Experian's 'Your credit report explained' booklet.

jimbo26

My wife has the same. It is not as YorkshireBoy states as we never returned the phone, the contract came to a natural end. A quick Google search revealed this is common with T-Mobile and nothing to worry about.

http://!!!!!!!.com/33lknd

msaquib

YorkshireBoy wrote: »

T-Mobile have closed your account under section 99 of the Consumer Credit Acts 1974 & 2006, because you returned an asset having paid more than half the total price on an HP agreement.

This entry looks like it will fall off your credit file in just over a week's time.

Sorry the satisfied date is 07/08/2002 so I guess it will disappear from credit reprt in August. Will this affect me if I apply for credit in the future?

Thanks
M

YorkshireBoy

msaquib wrote: »

Will this affect me if I apply for credit in the future?

The honest answer is I don't know, but it seems like jimbo26 does when he says you have "nothing to worry about".

However, because lenders names are not shown against the credit history data when a provider conducts a credit search, they will not know it's a rogue entry from a mobile phone provider.

Therefore, any prospective HP provider may want additional information prior to acceptance. For example, they may not wish to offer HP to someone who does not see agreements through to the end, and particularly on motor vehicle purchases.

msaquib

jimbo26 wrote: »

My wife has the same. It is not as YorkshireBoy states as we never returned the phone, the contract came to a natural end. A quick Google search revealed this is common with T-Mobile and nothing to worry about.

http://!!!!!!!.com/33lknd

jimbo26,

The link provided is not available. Can you provide a google link to show this is normal for T-Mobile ex customers?

I tried searching google but cannot find anything.

Thanks
M

sscott5581

Hi there

I had this exact same entry on my cra files and contacted TMobile and they removed this flag.

Steven

msaquib

sscott5581 wrote: »

Hi there

I had this exact same entry on my cra files and contacted TMobile and they removed this flag.

Steven

What number did you call or written a letter to?

Thanks
M

sscott5581

I wrote a letter send it to

T-Mobile UK Ltd
Credit Referrals
Building 6
Floor 1
Hatfiled Business Park
Hatfield
AL10 9BW

They corrected my file within one week

Steven