@experianexperts Quick Questions re: Credit Reports

[Vagabond_UK]

Hi, been a long time since I last posted in CAG... I have a coupe of quick question about my credit file I'm hoping someone can answer.

 

I have a default marked on my CR from December 2006, which was settled in May 2011. I understand the default period ends 6 years after the date of registration, in my case, December 2012 but I wondered how it would show on my credit report, as Equifax states:

 

"The information will stay on your Credit Report for 6 years from the date the account was ended." - does this mean the date of default or the date of settlement? I really don't want this hovering on my CR for another 5 years.

 

Second, I have a settled account from June 2011 that was never defaulted, but was operated 4 months in arrears for several months prior to the settlement. I know this has a bad affect on my Credit Score (which is gubbed atm anyway, thanks to the default!) but how do lenders view this as time passes and the arrears age? Do they still take them into consideration, even though they're over 12 months old and the account has settled, or do they lose potency over time until they are a non-issue?

 

Thanks.

[BRIGADIER2JCS]

6 Years from the default date paid or not the account is removed

from credit files.

 

I'm afraid in todays financial turmoil how ever old a default

or arrears are they have a great influence on credit decisions.

[Vagabond_UK]

Thanks, much appreciated.

 

I wasn't sure how it would appear once the drop-off date passed, as it is marked 'satisfied' from June 2011 on my report.

 

I assume then that the full entry will drop off from December, and not just the default part?

[BRIGADIER2JCS]

The Whole entry will be removed and cannot be replaced.