A question about : Credit File and Default Help
Hi all, just looking for some advice. I left the UK and I went travelling back in 2011, came back and then left again. I stupidly just ignored all my credit accounts.
I've just checked my credit file and I have three bank accounts in good standing order, one with a Ј1500 overdraft (not used). These all seem okay and shouldn't cause any problems.
I have six credit account defaults ranging from 2011-2014, totalling Ј3000. I've got the cash to pay these off completely which I will do in the next week or so after negotiating the best price to satisfy.
Will satisfying all the defaults make a difference to my credit rating? And how would I go about rebuilding it? Will it be a definite six years after the last default drops off before I will get any sort of credit again?
I can't believe I was so stupid at the time but just need to know what the future holds after the defaults are paid off,
Many thanks
Best answers:
- Ive read some posts on here, where the lender or the people issuing the default have removed it if they had agreed to pay the full amount.
No harm in asking the question. Just make sure you get it in writing if they agree.. - Rare that you will get an agreement to remove nowadays, but if you don't ask you don't get so got to be worth a go.
A satisfied default is obviously better than an outstanding default, but it's really the default and how old it is that is the biggest factor.
You may be able to get sub prime credit or less favourable rates once default are quite old.
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