7 year old data still present

[Shadow2981]

Ok, firstly, this could be MY misunderstanding, so this more for clarity.

I have some accounts which are all settled (except for one which is defaulted).

These were all settled between 2007 and 2011 I believe.

On CallCredit - as each month/year passes, a marker for the month/year 6 years previous disappears with it.

That is what I would expect...

On Equifax however, the data is still present as far back as January 2006.

I've raised a complaint and got told that this is not incorrect, and that 6 years applies to the date at which the account was settled - so this data will be on there as is until the account itself is ready to drop off due to 6 year limitation.

BUT... if that was the case - surely the entire account history should then be viewable (all of the accounts were opened pre-2005)?

Please could someone who knows for certain 100% please shed some light on the matter - the ICO seem to be with me on this, but they didnt allow me to explain the full details (seemed hurried on the phone).

Thanks

[Shadow2981]

Re: 7 year old data still present

Similarly - Experian are reporting the same data but slightly differently.

They are showing 2006 records, but as 2007 - so everything (including late payments/default) look 1 year newer, despite the "Date of default" being correct...

I might also add that is only accounts from this particular lender that do this... all accounts (credit cards, loan, and current account) which are affected are LloydsTSB.

[Never-In-Doubt]

Re: 7 year old data still present

The info stays for 6 years since last activity so if you used an account until 2006 then all records would remain until 2012 with each year that passes removing the old year 6 info. So at year 1 (ie 2007) you'd notice 5 years of history. At year 2 (2008) it's show 4 years and so on until 2012 when the entry would vanish.

In your case did you default/ap/settle the accounts or what?

[Shadow2981]

Re: 7 year old data still present

That is how I understood it - so you lose the relevant years in order to literally show how it was 6 years ago...

BUT.. mine still shows data for 2006.. but 2007 is where is should cut off (as is the case with CallCredit).

3 accounts settled at various points
1 account defaulted in 2009

Defaulted account opened 2005 - shows history up to 2006.
other accounts opened as far back as 2001... but data shows up to 2006...

[Never-In-Doubt]

Re: 7 year old data still present

Call credit aside - it should go after 6 years. I think call credit might keep it 7 as they keep searches for 2 years too.

Not 100% anymore cos I don't use them but base what you say only on equifax & experian as that's what lenders use as their first tier credit check ordinarily.

Can you just email a copy of the account section in question for ex & eq and I'll tell you then exactly what's wrong.

[Shadow2981]

Re: 7 year old data still present

Cheers mate, just emailed over Equifax. Will have to do Experian when I get home shortly..

EDIT: I sent to webmaster@.....

P.S - that was taken from report generated today

[ken100464]

Re: 7 year old data still present

I asked this very self same question back in April.

http://forums.all-about-debt.co.uk/s...ead.php?t=9769

The egg account in that post has cleared on all 3 as it should have. But still begs the question why Experian and Equifax had data going back more than 6 years.

Noddle actually seems the fairest of them all as it is deleting the oldest data every month.

If the lenders dont see anything more than 6 years old thats all fine and dandy. But by that do they mean 6 years after the agreement ends hence historic data from eons ago

But why keep old payment data???? If no one wants it. Cause we dont would rather all the crap goes.

Seemingly its also present here.
http://forums.moneysavingexpert.com/....php?t=4613235

[Never-In-Doubt]

Re: 7 year old data still present

Right I think the CRA's operate on the basis that past history on closed accounts can remain intact for a full 6 years after account closure (settled/default etc)...

So the issue is is anything showing 6 years AFTER the account closure date? No is the answer so the report is correct. The info that's NOW 8 years old is because the account is locked at closure date so those that you satisfied in 2007 for example will vanish totally this year - everything will go.

Those that settled/defaulted in 2010/11 will show until 2016/17 and then drop off

Lenders only search back 3 or 6 years so its the most recent stuff that you should look at NOT this trailing history which only appears as time goes on until 6yrs from closure.

Basically, as there were no updates from 2007 these accounts would be ignored by lenders anyway. The problem is those from 2010/11 (settled/defaulted etc)

[Never-In-Doubt]

Re: 7 year old data still present

Ken

See above mate. It all depends on the account closure date. 6 years history will ALWAYS remain before closure plus you'd have the years AFTER closure for it to drop off.

Best way to describe it.

Draw a line and write 6-1 above it. Write 6-1 below it. We'll add years to make it easier to understand )

6- (2013)
5- (2012)
4- (2011)
3- (2010)
2- (2009)
1- (2008)
---- <<- account was paid up and settled - 04/2007
6- (2007)
5- (2006)
4- (2005)
3- (2004)
2- (2003)
1- (2002)

Ok so from the above you had 6 years history ahowing until you closed the account in 2007 when you paid it off. That means the history will ALWAYS stay between 2002-2007 as they ALWAYS keep the last 6 years rolling history. If for example you did not close it, then move the line up one so 2008 would be closure date and history would read 2003-2008 instead of the example 2002-2007 that we're using. So 6 years history PRIOR to closure must always show.

What you see above the line is what matters. This will remain blank as there was no activity so the way the lenders read it is to work back 3 years from date of application meaning, using the above example;

History What should be displayed

6- (2013) - shows history from 2007-2013
5- (2012) - shows history from 2006-2012
4- (2011) - shows history from 2005-2011

3- (2010) - shows history from 2004-2010
2- (2009) - shows history from 2003-2009
1- (2008) - shows history from 2002-2008

Any info outside the 6 year periods above is ignored and irrelevant.

Phew!!

[Never-In-Doubt]

Re: 7 year old data still present

^^^ make sense now?

[ken100464]

Re: 7 year old data still present

Thats how I was reading it and since the original post have written to Halifax asking them to default us from 2009.

Using the ICO guidelines to plead that 1 year AP's is not fair as now this account will be the only bad scoring showing from 2015. So we have been penalised for trying to pay it off which we did eventually. Would have been better to stop paying and default. It would have been in our interests to do so.

There is some hope as seen a couple of banks most notably Barclays retrospectively defaulting IF THE ACCOUNT WAS SETTLED.

Will update when or if we get something back.

[ken100464]

Re: 7 year old data still present

Thanks for the explanation it does make sense.

Makes sense to follow what you preach and dont get AP's Bloody banks

[Never-In-Doubt]

Re: 7 year old data still present

Ken I don't think you'll get far mate. However lets see

[ken100464]

Re: 7 year old data still present

Think your correct but worth a try. Working on the principle that its the ONLY adverse data from 2015 so Hellifax are fully responsible for fecking up her credit file post 2015. After we bloody paid them back too

Barclays seem to have all of a sudden got a bit nervous about these AP's and there are a number of threads over the forums where they have defaulted back to when the problem first started. So I just wanted to spread the lurv to Hellifax.

I will be the first to say kudos to Hellifax if they do but would never know if I didnt ask.

Will let all know if I succeed. Will go into that desolate part of the forum. The bit where we praise the industry

[Never-In-Doubt]

Re: 7 year old data still present

Mate if you didn't default and instead went AP then what have they done wrong?