• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Cra entry query

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Cra entry query

    Hello Guys,

    firstly I've asked a few questions on here and have always appreciated all the help you have given.

    My current query is this:

    I recently checked my credit file. there is an entry from Lombard Business finance for a HP agreement i had. It has the following dates.

    Account Started: 27/05/2009
    Account Settled: 21/04/2010
    Account closed: 21/04/2010
    Partial Settlement: 01/06/2014

    I was just wondering when this might fall off my record?

    would it be date account closed ? Or date of partial settlement?

    I appreciate all the help!

    munden123:tinysmile_grin_t:
    Tags: None

  • #2
    Re: Cra entry query

    That is odd ... when did you settle the account. April 10 or June 14?

    Comment


    • #3
      Re: Cra entry query

      Well the car was in fact stolen and written off. As far as i was aware everything was settled in 2010.

      Comment


      • #4
        Re: Cra entry query

        In that case I think you can expect it to drop off in April 2016.

        (If you had actually settled the account in 2014, I would have been worried that at some point they were going to correct these rather odd entries and it wouldn't be in your favour.)

        Comment


        • #5
          Re: Cra entry query

          SETTLEMENT DATE: 21/04/2010
          Hi debt camel thank you for your help. I haven't had any contact with lombard since 2011/2012. Is this normal that they would put a car entry 4 years after the date account closed. it says ACCOUNT CLOSED april 2010 on my file, but the latest entry is 2014. Does it usually go off the last date entered?

          Thanks

          Christian

          Comment


          • #6
            Re: Cra entry query

            Originally posted by munden123 View Post
            Hello Guys,

            firstly I've asked a few questions on here and have always appreciated all the help you have given.

            My current query is this:

            I recently checked my credit file. there is an entry from Lombard Business finance for a HP agreement i had. It has the following dates.

            Account Started: 27/05/2009
            Account Settled: 21/04/2010
            Account closed: 21/04/2010
            Partial Settlement: 01/06/2014

            I was just wondering when this might fall off my record?

            would it be date account closed ? Or date of partial settlement?

            I appreciate all the help!

            munden123:tinysmile_grin_t:
            Good morning,
            You mention no default date, is the file entry showing a default?
            If not it will remain on file.

            nem

            Comment


            • #7
              Re: Cra entry query

              Originally posted by nemesis45 View Post
              Good morning,
              You mention no default date, is the file entry showing a default?
              If not it will remain on file.

              nem
              Not if the account has been marked as settled it won't...

              Comment


              • #8
                Re: Cra entry query

                Originally posted by Debt Camel View Post
                Not if the account has been marked as settled it won't...
                Settled accounts stay on credit file for 6 years after the settlement date.
                I'm looking at my CRA files now 4 settled accounts from 2013 still show, it's explained on the report.

                nem

                Comment


                • #9
                  Re: Cra entry query

                  and it says "Account Settled: 21/04/2010"

                  Comment


                  • #10
                    Re: Cra entry query

                    Originally posted by munden123 View Post
                    Hello Guys,

                    firstly I've asked a few questions on here and have always appreciated all the help you have given.

                    My current query is this:

                    I recently checked my credit file. there is an entry from Lombard Business finance for a HP agreement i had. It has the following dates.

                    Account Started: 27/05/2009
                    Account Settled: 21/04/2010
                    Account closed: 21/04/2010
                    Partial Settlement: 01/06/2014 The Account will stay on file 6 years from this date. Only defaulted accounts are removed on the 6th anniversary of the default date:
                    It might be helpful to know more of this " partial settlement " as opposed to the 2010 " settled " entry.


                    I was just wondering when this might fall off my record?

                    would it be date account closed ? Or date of partial settlement?

                    I appreciate all the help!

                    munden123:tinysmile_grin_t:
                    Munden can you answer these points.

                    nem

                    Comment


                    • #11
                      Re: Cra entry query

                      Hi Nemesis, Thank you for your help. I was under the impression that the insurance company had settled this issue at the time (2010) in full, hence the mark on the credit file, but then they applied the "partial settlement" in 2014 without my knowledge. I was perplexed as to why they had done this.
                      I have emailed them asking to clarify this, but i have limited information and in longer have the account number nor do i even remember the registration number of the vehicle.

                      Comment


                      • #12
                        Re: Cra entry query

                        Originally posted by munden123 View Post
                        Hi Nemesis, Thank you for your help. I was under the impression that the insurance company had settled this issue at the time (2010) in full, hence the mark on the credit file, but then they applied the "partial settlement" in 2014 without my knowledge. I was perplexed as to why they had done this.
                        I have emailed them asking to clarify this, but i have limited information and in longer have the account number nor do i even remember the registration number of the vehicle.
                        Ok it certainly does need explaining the debt was either settled in full or partially settle it cannot be both.

                        It is fact settled/partially settled debts remain on credit files for 6 years from the settlement date, these entries
                        have no detrimental effect on your credit profile.

                        nem

                        Comment


                        • #13
                          Re: Cra entry query

                          Thanks Nem,

                          I thought that this would have a detrimental effect on my file.

                          Comment


                          • #14
                            Re: Cra entry query

                            Originally posted by munden123 View Post
                            Thanks Nem,

                            I thought that this would have a detrimental effect on my file.
                            If it was a defaulted account partially satisfied then there would be some
                            effect, " settled " is used when an account/debt is paid off under normal
                            circumstances, " satisfied" is used when a defaulted account is paid off.

                            The only matter to sort out is the 2 " settled " dates.

                            nem

                            Comment

                            View our Terms and Conditions

                            LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

                            If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


                            If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
                            Working...
                            X