Credit Report Question

~Beanie~

I have accessed my credit report via Equifax (only to get 800 piggy points:rotfl: )

I had a car loan from The Associates back in 1998 which was for 4 years and was paid on time, every month until it was paid off. On my credit report, it shows a loan from Welcome Finance (did they take over the Associates?) for the same amount, it shows as settled in December 2002, which would be correct.

My query is - apart from the fact it is showing the last payment as being late, it most definately wasn't - why is this still showing? Will it drop off in December this year which is 6 years later? Do I need to do anything to get it off?

On a more positive note, I have taken note from a thread I have previously read on this site - my credit cards are currently frozen in a big block of ice in my freezer. This will stop me spending on them knowing there is some of the limit left (usually on stuff I don't need but because I know there is say £20 left, I will spend it) but they are always there in an emergency. If I need to wait 4 hours for them to defrost and still need them, it MUST be an emergency!!!

I this site! If only I had found it earlier

~Beanie~

Anyone know?

debtmuncher

apologies but i have not got that much idea on your query just a newbie myself!

love the cards in ice idea! only does it not damage the card ...thinking you pour water over them but now thinking the sensible idea would be to wrap them in a plastic bag or something!!!

OliveOyl_2

I don't know the answer, but I'll bump you so that more knowledgable people can advise.

hate to think what my report looks like, where's that sand for my head......

Donedoingdebt

It will drop off in Dec 2008 & you shouldn't have to do anything to have it removed.
Several of my defaults & loans dropped off automatically after 6 years.
However, just to be sure, wait until around a month later & check your files again.
If it has remained on for any reason, contact the CRA & the creditor, & it should then be removed, no problem.

~Beanie~

Thanks for that.

I just thought it was a bit strange as I have had a bank loan since then which has also been settled and which doesn't show. Also I'm still a bit annoyed that the last payment is showing as late when it wasn't although I suppose it was six years ago now...

~Beanie~

debtmuncher wrote: »

love the cards in ice idea! only does it not damage the card ...thinking you pour water over them but now thinking the sensible idea would be to wrap them in a plastic bag or something!!!

Doh - never though of that! I'll let you know if it damages my cards if I ever need to defrost and use them!

SunderlandBlackCat

~Beanie~ wrote: »

my credit cards are currently frozen in a big block of ice in my freezer.

Hehehe - that was one of my favourites when I used to post more regularly & I picked it up from someone else who used to post before me. Good to see its still getting passed along.

SunderlandBlackCat

~Beanie~ wrote: »

I just thought it was a bit strange as I have had a bank loan since then which has also been settled and which doesn't show.

Different lenders use different CRA's & to get the complete picture you need the report from all 3 CRA's

~Beanie~ wrote: »

Also I'm still a bit annoyed that the last payment is showing as late when it wasn't although I suppose it was six years ago now...

You can write to them & dispute it if you feel you need to.

waddy_2

hi all, didnt realise there were 3 CRA'S, I knew about equifax and experian. what is the other one????

SunderlandBlackCat

waddy wrote: »

hi all, didnt realise there were 3 CRA'S, I knew about equifax and experian. what is the other one????

Callcredit. Nowhere near as big as the other 2 & I don't think too many companies use them.