6 years on credit files....

[inkslinger]

Hi,

 

Just a query. I'm led to believe that your credit file should hold data about you for six years. I had a joint mortgage with my wife for many years. She continued to live in the house for a good while after we were parted. She missed a few payments, and as a consequence there is a number of late payment markers on the file. Once I found out she had missed payments I immediately rectified the situation, and for the last year of the payment history its all green.

 

The house was sold in 2009 and these late payment markers are for 2008. Equifax tell me they will display this data until 6 years to the date the account was closed. Thats the whole history.

 

So if this is the case if say you had a mortgage for 20 years, and you got into a late payment marker in year 3 or 4 of your mortgage would this still be visible to lenders 17 years down the line? Just a little confused on the way this works.........

[BRIGADIER2JCS]

Credit histrory for a long term account

like a mortgage will be reported for the

life of the loan, late payment markers

will ''fall back'' as up to date payments are made.

So six years they will disappear

[inkslinger]

Thank you for the clarification on that brigadier. It's not always clear what the CRA mean and what they in turn do ;-)

 

Cheers

[BRIGADIER2JCS]

Also remember that different lenders will use

the CRAs in different ways.