# credit rating help(equifax) arrears



## chr15_7_t_ (Jun 5, 2011)

hello everyone 

i have recently registered with equifax to have a look at my profile and all seems ok apart from 2 to many searches which are my own fault as i knew nothing about credit ratings at one point a while ago when i was trying to get car finance  ...ive learned about credit ratings now and have stopped all unnecessary searches,spending and i know paying more of my credit card etc.
my rating is on its way back up .however..theres one bit of my file thats bad i dont no if i can do anything about it?.. 
in july 2010 i was late with one of my payments for 1 month, so its now showing 1month in arrears on my file. i tried phoning the company to see if they can do anything about it since it was over a year and ive always paid on time and more than the minimum since the late payment but they said they cant do anything about it now.
does anyone no how much this will be affecting my credit rating? thanks


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## Overdoser (Oct 25, 2010)

As it was over a year ago and if you have kept all payments up to date since then it should be fine.


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## chr15_7_t_ (Jun 5, 2011)

so did i but the company said they cant..unless the guy on the phone didnt no what he was talking about. might phone them again and try and speak to a manager :/


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## Nanoman (Jan 17, 2009)

If it happened it'll stay on your file for 6 years - that's whole point of keeping the records. It won't affect your rating much. Unless it is incorrect let it go...


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## chr15_7_t_ (Jun 5, 2011)

its all good  phoned them back up and got someone helpfull on the phone and they are now removing the late payment in good will ... they said they can do this once since ive made all my payments since that one late payment, pretty happy chappy now


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## Overdoser (Oct 25, 2010)

That's great news mate.


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## PaulN (Jan 17, 2008)

Just for info i dont think credit searches or the number of them hurts your credit rating. If your shopping around for insurance alot require searches now.

Ill double check mines not been effected by a couple of recent searches.

PaulN


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## chr15_7_t_ (Jun 5, 2011)

i was looking about and apparently anything more than 2 searches every 6 months can be flagged up for creditors


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## Nanoman (Jan 17, 2009)

chr15_7_t_ said:


> i was looking about and apparently anything more than 2 searches every 6 months can be flagged up for creditors


There is no rule. Companies can interpret the data however they like. They get all the data and do whatever they like to make their decision.


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## PaulN (Jan 17, 2008)

If i check on my own Credit rating it is classed as a credit check. 

I think if you owe alot of money min payments only being paid and a good few credit card requested then it could hurt you as it looks as if your current money situation if tight.

If youve got 2 £10k credit cards with no cash on i doubt they will worry about a credit search from compare the market.com

Cheers

PaulN


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## Ravinder (Jul 24, 2009)

One miss payment won't make much difference at all. Even better now as you got it removed. As said companies can refuse you for credit at any time as they'll have their own personal lending criterias. You can have a good credit score and still be turned down. It is advisable though not to
Have more then one or two credit searches done in a short period of time, about 6 months.


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