Moneysavingexpert.com/ Your Credit Rating discussion area

cazziebo

I noticed my direct debit didn't come off for Orange in October. I called them and the agent couldn't explain why, but said it was set to come off in November along with November's payment. For once I had loads of money in my account so it was not shortage of funds. I've been working hard to clear up my credit report, so said I would rather pay by card. The agent said the payment was set to come off, and paying by card might mean paying twice. He was very friendly and I got a follow up message from Orange asking for feedback so I was very complimentary.

The November payment didn't come off either! I didn't notice and got a call from Orange last week. I called back and they said there were two payments missing. I explained the previous call, and agreed to pay when I got into work later that day. I did so.

Few days later, an alert from Credit Expert and I have a late payment on my credit report. Absolutely bl**dy furious as other than this my payment record is completely clean!

I have no idea why dd wasn't taken, I offered to pay it early November, was assured it would be, and yet I'm classed as a late payer.

System

cazziebo wrote: »

I noticed my direct debit didn't come off for Orange in October. I called them and the agent couldn't explain why, but said it was set to come off in November along with November's payment. For once I had loads of money in my account so it was not shortage of funds. I've been working hard to clear up my credit report, so said I would rather pay by card. The agent said the payment was set to come off, and paying by card might mean paying twice. He was very friendly and I got a follow up message from Orange asking for feedback so I was very complimentary.

The November payment didn't come off either! I didn't notice and got a call from Orange last week. I called back and they said there were two payments missing. I explained the previous call, and agreed to pay when I got into work later that day. I did so.

Few days later, an alert from Credit Expert and I have a late payment on my credit report. Absolutely bl**dy furious as other than this my payment record is completely clean!

I have no idea why dd wasn't taken, I offered to pay it early November, was assured it would be, and yet I'm classed as a late payer.

I would write to Orange and ask them to investigate and remove the adverse information as it is factually incorrect.

It'd be a shame to smudge your clean payment history because of their f*~k up!

Regards
UNDERGROUND

cariad84

I was just turned down for a loan application and was suprised as I thought I had a good credit history. I went to look at my credit report with Experian (as recommended by Martin - thanks!) and spotted two mistakes and am writing to ask them if they will correct these mistakes.

Just wondering what other people's experiences have been with a similar situation? Did they correct the mistakes willingly? Did it help with future credit applications? Do you need to contact all credit scoring agencies or will the corrections (if they decide to make them) apply across the board?

Thanks!

Frugaldom

UNDERGROUND wrote: »

Hi

As far as I'm aware ebay do not report to any credit reference agencies.

And yes you are quite entitled to have that search removed. Companies are not allowed to search your credit file without your consent.

Regards
UNDERGROUND

With regards to the above, I have just checked my file and there's a search on it from August 2007 that I did not authorise, nor have I any idea why the search was done. Would Camelot do a credit search before debiting a card for buying lottery tickets??? I am extremely curious about this as the only reason given on the report is, " unrecorded enquiry". Please can someone tell me what that means? Thank you

Lisakx

why does Experian have me as excellent credit rating and Equifax poor? how can they be so different?

ladywozy95

Kerryatter wrote: »

Hi - I wonder if someone could tell me how long information stays on your credit file? If you've been in trouble before how long do you need to be 'good' :A before all the 'bad' info comes off your file?

My husband had an IVA, which is now fully paid and completed - Obviously it's nice being without debt now but we're hoping to move soon or at least change our mortgage company (to whom we pay a ridiculous interest rate :eek: ). How long would we need to wait before applying to a normal lender?

Hope someone can shine some light on this for me!

MMMmm have just replied to this but new to the whole posting thing so not sure how or if you have got the reply then noticed you're in the same town as me so just incase you haven't seen my reply, my hubby was made bancrupt as a sole trader in 1998 we moved house in 2001 with a mortgage rate 4% above base rate :eek: then he was fully discharged and in 2006 we remorgaged with a high street bank at a normal rate :T however it was a long road from not being allowed a bank account or utility bills in his name to the high street mortgage we had to build up his credit score slowly by starting with a basic bank account then a small loan repay that then a hp agreement on a car eventually the credit companies start to have confidence in you again and Im sure after 6 years you can write to the credit agency to have the information removed hope this helps.;)

powerful_Rogue

CRA's keep closed account information for six years from the date the account was closed, however what im interested in here is Active accounts.

When I phoned up recently regarding active accounts, I was told that on an active account the information in relation to payments was held for three years before dropping off.

IE: Active Account
1 X Late payment marker in June 2002 would drop off in June 2005

Im presuming this is because the account is active, the most recent information is more relevant.

I cant remember which CRA I phoned to get this information, however im now being told that even active account information is held for the duration of the contract and then six years after.

EG : Active Account
1 x Late payment marker in June 2002. You then close the account in 2008 - That latepayment marker wont drop off until 2014

Now to me, this cant be right. The first answer which was giver over the phone (damn!) makes a lot more sense compared to the last answer.

Ive had a search around but not been able to locate anthing, just wondering if anyone was aware of any documents that can confirm or deny this.

jonnyb

I work for Experian. They show their active records with a 36 month history, as you were told on the phone. So the credit search that gets done against you will record how many times you have missed a payment in the last 36 months.

They visibly show the last 12 months, but record the last 36 months.

After 36 months a missed payment will not be shown - why would it be relevant after such a long time ?

powerful_Rogue

jonnyb wrote: »

I work for Experian. They show their active records with a 36 month history, as you were told on the phone. So the credit search that gets done against you will record how many times you have missed a payment in the last 36 months.

They visibly show the last 12 months, but record the last 36 months.

After 36 months a missed payment will not be shown - why would it be relevant after such a long time ?

Thanks jonnyb - It must have been Experian I spoke to on the phone about this then..

For some reason Equifax have stated they keep payment history for active accounts for the duration of the contract and then six years after.

An example is my current Burtons account whic is still active. In 2003 I made two late payments and I queried this with Equifax as to why its still showing and this was their reply:

I have investigated further today and wish to advise that the previous arrears currently still appear on the payment history of the above account. I acknowledge your comments and concerns. As previously advised account information remains on an individual's credit report for a period of six years from the date that the account was settled, written off or defaulted, whichever occurs first. Active accounts remain on a Credit Report indefinitely. An Active account remains indefinitely, as the account in question is ongoing and up to date. Regardless of how old the account is, all the monthly repayment markers will appear for an active account.

Although you work for a different CRA, is there a procedure that all CRa's follow in relation to this? The system adopted by experian appears fair, where as the Equifax system seems quite excessive.

If i keep this account open for another 4 years, those late payments will then show until 2018!

hevaaa

I have had an egg loan for the last 2 years and have never defaulted on a payment. I wanted to consolidate other debts into a new loan, so I thought the best thing to do was to go back to Egg, as I have had good experiences with them with my last loan (of which I had one payment left).

I applied today over the phone and I was refused. I am a little confused as like I say, all payments have always been in full and on time. If I contact Equifax will they give me the specifics of why I was refused?

Will this refusal now effect my credit rating?

thanks all