Credit Agreements

The credit agreement section of your credit report includes details of previous and existing credit agreements and the repayment history of these agreements. This information is sent to the credit reference agencies by the lenders on a monthly basis, and is used by prospective lenders to assess how you may meet any future credit repayments. Any evidence of missed or late payments may adversely affect your ability to obtain credit. Lenders also use this information to calculate how much you already owes to other lenders, to see if you can afford to take on further credit.

How Long is This Data Held on Your Credit Report?

Information on payments made, missed or late payments, defaulted accounts and voluntary arrangements will remain on your credit report for 6 years from the date the account was settled (fully paid), defaulted or written off - whichever happens first. Active credit agreements will remain on your report indefinitely.

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