Credit report

[Sophilicious]

Hi, I’m looking for a bit of help from people more savvy than me!
Does anyone know if there is a way to remove a closed account from your credit report? We were planning to apply for a mortgage but the broker has looked at the report and said there is no hope of getting one atm.
The closed account is for a few thousand pound loan, it’s been paid off in full but there were missed payments on that account.
The broker said the first job is to get that taken off, but I don’t know if that can be done?
Thanks in advance.

How old is the missing payment? Markers usually stay on for at least 6 years :(. Even if you pay it off in full as I found out over a £34 unpaid catalogue bill.

It can take several months/years longer to come off a report, but they are supposed to treat it as 6 years from the first default. You need to check what the credit report actually says, and is it correct? If not then you have to go back to the lender and get them to rectify the report.

Thank you, that’s what I thought, that you just have to ride out the time til it falls off, but the broker made me think maybe there was another way.

You can only get it removed if it wasn't a true default, so if you had contested the charge and it never should have been put into a default position.

Personally I'd try another broker. Was there a reason you missed payments such as bank failed to process direct debit because of the order of payments? (I've had this in the past where all the debits come out first then the credits go on, but things might have changed more recently)

There are brokers that specialise in poor credit history. May be worth trying one of them.

If you could just get factual information removed because it affected your credit rating there would be no point in them at all

@Sophilicious we are currently going through this, DH and I are going for our first mortgage, we have 5% deposite and DH has six months worth of missed payments from 5 years ago, its still on credit report. Our mortgage broker said this was fine as was all from one company.
He has found us a mortgage. The interest rates are slightly higher then if we had perfect credit report, but we are currently in the process of submitting all paper work and the bank is coming round tomorrow to value the house.