How long do defults stay on your credit file?
I have recently got an online credit file from Equifax, and it shows two Defaults from about 5-6 years ago. I have tried to contact the companies involved. One being Orange communications, and the other Littlewoods. Orange have said that according to their system I don't exist, and Littlewoods have since gone into liquidation. Any ideas how I can get these resolved. I have also got about twenty late payments showing from about three years aga, hoiw damaging are they to my credit score?
Answers:
Well, the late payments are bad but there isn't too much you can do about that. The other accounts, you should have a phone number or an e-mail address where you can dispute things on your credit report. File a report saying that you have tried to resolve the debt and are unable to. Equifax will then contact the companies and they have 30 days to answer your dispute. I would also suggest that you get your report from TransUnion and Experian.
I think it goes away after 7 years.
They usually fall off your credit report within 7 years
6 years, or after the debt is clear, the debtor's firm informs the credit company that the debt is paid in full - then the default is removed
They effect how companies view you when you apply for a loan or any non cash purchase. It takes 7 years for each default to leave your file. If you do get approved for credit, you'll pay a much higher rate of interest as you are a high risk for default.
In England and Wales defaults remain unless removed by the originator or you can satisfy the credit reference agency that the debts have been satisfied. In practice this can mean that they can be on record for several years. Write to equifax with a copy of the letter received from Orange etc and ask that the entry be removed. These entries will cause you difficulty in obtaining credit however if you are prepared to stand your ground on those which can not be proved you should be able to have them removed.
7 years.so 4 years to go. But i would fight it and get it removed
Contrary, to the above answers. In the UK Defaults and CCJ's will stay on your credit file for a maximum of 6 years. Even if you repay the debt within that time, it will still stay on your credit file, but the debt will show as satisfied.
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Answers:
Well, the late payments are bad but there isn't too much you can do about that. The other accounts, you should have a phone number or an e-mail address where you can dispute things on your credit report. File a report saying that you have tried to resolve the debt and are unable to. Equifax will then contact the companies and they have 30 days to answer your dispute. I would also suggest that you get your report from TransUnion and Experian.
I think it goes away after 7 years.
They usually fall off your credit report within 7 years
6 years, or after the debt is clear, the debtor's firm informs the credit company that the debt is paid in full - then the default is removed
They effect how companies view you when you apply for a loan or any non cash purchase. It takes 7 years for each default to leave your file. If you do get approved for credit, you'll pay a much higher rate of interest as you are a high risk for default.
In England and Wales defaults remain unless removed by the originator or you can satisfy the credit reference agency that the debts have been satisfied. In practice this can mean that they can be on record for several years. Write to equifax with a copy of the letter received from Orange etc and ask that the entry be removed. These entries will cause you difficulty in obtaining credit however if you are prepared to stand your ground on those which can not be proved you should be able to have them removed.
7 years.so 4 years to go. But i would fight it and get it removed
Contrary, to the above answers. In the UK Defaults and CCJ's will stay on your credit file for a maximum of 6 years. Even if you repay the debt within that time, it will still stay on your credit file, but the debt will show as satisfied.
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