Bad accounts: how long are they kept on record?

Tipustyger

Hi everyone, I've recently been trying to sort out my finances and sort out my credit rating etc. It has been going well so far and it has now gone up from below average to above average. I've noticed thought that Equifax and Experian have one account held on the records that had late payments made. The last late payment was made in 2005 and the account was closed in 2006. Does anyone how long this information is likely to remain on my credit report? I'm convinced it is causing problems for a number of applications, especially those using Experian to make the standard checks as that lists a much lower credit rating than Equifax and Call Credit. Any information would be very much appreciated.

Bongedone

Both agencies hold information for 6 years. If you look at your report you will notice it does not go back further than that. This only applies to satisfied debts, your late payments will come under the 6 year rule.

You sign up for Experians Credit Expert free one month trial and read their help and ask questions.

Tipustyger

Many thanks, that's helpful to know. Has anyone else had problems with having a much lower credit score with Experian? For the life of me, I can't understand why it is so much lower than the other two.