A reader asked:
I have a debt with a default date 30 April 2013. I was paying the debt for about a year then stopped as the default would always be on my file in any case.
Will the debt drop off in 2019, or will it extend to 2020 as I was paying it for a year? Do settled accounts affect your credit score?
The simple answer is that all defaults drop off your credit record after six years, but this situation as it isn’t all good news for the reader.
Debts always disappear 6 years after a default
A debt will be deleted from your credit record six years after the default date. There are no exceptions to this rule so it applies if:
- you have repaid the debt in full – the date you repaid it doesn’t matter;
- you made a partial settlement (also called a full and final settlement) – again the date of the settlement doesn’t matter;
- you are still making monthly payments to the debt;
- you aren’t making any payments to the debt.
His default date was 30 April 2013, so by the end of April 2019 the debt will have gone.
One point that can confuse people is that after a default has been added, another default is added each month. These don’t affect your credit score and don’t matter for when the debt drops off – the first default is the real one.
Do settled accounts affect a credit score?
I’m not clear what the reader was asking, so I will answer some variations.
Will settling a defaulted debt showing on your credit record improve your credit score?
No. You may think this is weird but paying off a defaulted debt does not help your credit score.
Will settling a debt once it has dropped off your credit score cause it to reappear at all?
No, it will never come back.
Once a debt has dropped off your credit record will it affect your credit score?
No. Once it has gone, it doesn’t feature in the credit reference agency’s calculations of your credit score. There is no secret database of debts that have dropped off credit records. The only lender that may take account of it in future is the lender you defaulted to, who may see the default on their internal records.
The bad news – a CCJ is still possible
As the above answer show, all the immediate news for the reader’s credit score is good.
The bad news is that even though the debt drops off his credit record, it still legally exists.
Because he last made a payment in 2014 sometime, it will not become statute barred until at least six years after he missed a payment to it which will be in 2020 – or possibly later.
Up until that point, the current creditor can take him to court and get a CCJ – that would then appear on his credit record for another six years even though the underlying debt is no longer there. It can be hard to be sure exactly when a particular debt becomes statute-barred as there was a new court judgement in January 2019 which affects some debts, see Common questions about statute barred debt for more information.
And this isn’t some theoretical possibility, it is unfortunately quite likely.
There were more than a million consumer CCJs in 2019. That was the highest number ever – more than twice as many as 8 years ago.
It is common for a debt collector to wait until the last 6 months before a debt becomes statute-barred before going to court. Read No calls or letters about a debt for years which looks at this situation.
When can you get a default deleted?
How much will my credit score change if…
Should you get a loan to repay a default?
Bette says
Hi Sarah
i’m wondering why it is that DCA’s are not aware of debtors original default dates. Even if a debt is sold on several times why is not the original default date included in the information when sold on from DCA to DCA?
Alternatively why do DCA’s not check for the original default date set by the original creditor on the debtors credit file? surely the credit file would also show if any payments were made after the original default date and therefore statue barred would not apply until after the last payment? – am i missing something?
Sara (Debt Camel) says
What makes you think creditors aren’t aware of the default date used by the original creditor?
If you have a DCA that is using a later date, send them a complaint and tell them to use the OC date – but this isn’t a common problem to see.
Statute barring has LITTLE OR NOTHING to do with the default date. Some DCAs argue (incorrectly) that the 6 year limitation period start with the default date. But I never heard of one arguing that a later payment after the default date doesn’t stop the statute barring – that wouldn’t be in their interest after all.
luis says
Hi Sarah,
Hope you can help with this question.
I have received an update on my credit score stating that there is a Court Judgement against me for a total amount of £237 from a parking fine issued on 02/05/2014. I wrote to the claimant in January and got no response so I was thinking of paying it anyway so I can settle this CCJ.
Would this affect me credit score if I want to buy a house in the next 6 months?
Thanks
Sara (Debt Camel) says
The chance of you getting a mortgage at an OK rate is close to zero even if you pay this now. If you knew nothing about this CCJ before January, I suggest you talk to National Debtline, see https://www.nationaldebtline.org/, asap about whether you can set aside the CCJ and how to do this.
Marion says
My friend cosigned for her then ex husband to get a RV when they separate he defaulted on the loan. Is is the same amount of time 6 years before her credit comes clear .or in someway this will still effect her.
Sara (Debt Camel) says
I think you live in America? This website only covers English credit reporting rules, they are not the same in the USA. Sorry you need to talk to someone locally with your query.
Mark Hughes says
I recently had a CCJ appear on my credit report. It was from a defaulted debt that had fallen off my report a few years ago. I have today successfully had it set aside, subject to a Tomlin Order, as the CCJ papers were served at the wrong address.
Deborah McAteer says
I have a default on my account from November 2013 does that mean that coming this November it will drop off having passed the 6 years?
Sara (Debt Camel) says
yes, a default date of 14 November 2013 means it disappears 6 years later on 14 November 2019.
Deborah McAteer says
Thank you,
Thats great news!
A mortgage adviser said i should wait before settling the payment as it would appear like a brand new default on my file.
Thank you so much!
Sara (Debt Camel) says
It won’t. It will drop off if it is paid in full, paid partially or not paid at all.
Diane says
Hi Sara
Over ten years ago I fell seriously ill and could not work for 2 years. I am a house owner with a mortgage and at the time had several credit cards, a catalogue, a secured & personal loan . Long story short as I could not met the minimum payment all my accounts fell in to arrears and defaulted. I came close to being declared bankrupt. My last default fell off my credit account Dec 2017.
I was advised to contact the citizen advice who helped me to negotiate minimum payments of £1 and I was transferred to PayPlan once i was able to return to work. This year I arranged a drawdown on my pension and offered discounted repayments to all my creditors via PayPlan which were accepted.
Recently, I have received letters from 2of those creditors informing me that if the debt was still registered on my credit account (which they are not ) it would be marked either partially settled, paid in full or settled with a discount (they were all settled with a discount).
My question is, can they go back to my credit file to record that the debt settled with a discount?
Sara (Debt Camel) says
No they can’t. See https://debtcamel.co.uk/ff-credit-record/
Brian connell says
Hi Sara,
I had a default with Santander which I agreed to pay at a lower rate it was going ok then 3 years no missed payments they have issued a CCJ which now become 9 years bad data on my credit file really any advice please am paying it any way.
Sara (Debt Camel) says
Are you now paying it at a higher rate than you were before the CCJ?
Brian connell says
Hi Sara,
I am paying the same amount but due to costs with CCJ extra £1,500 as been added to the debt.
Nick says
Hi Sara,
I have a defaulted credit card listed against me £4000). I made a deal with the CC company and paid it off for a lesser amount. The default is due to come off at the end of next month. It’s been along six years….I don’t want to get my hopes hope too much but what do you imagine the effect on my score will be? I have no other defaults and my other credit accounts are all in good standing.
Thanks
Sara (Debt Camel) says
This article has some numbers https://debtcamel.co.uk/credit-score-change/. But it really depends what is on the rest of your credit record and which credit reference agency you are looking at.
Micah says
Hi Sara,
I have two unsettled defaults both being paid monthly, but both drop off my file within the next 35 days. Totalling £500
I had a CCJ which dropped off in September.
I now only have 1 default for £97 which is paid and settled, this drops off in 2020.
I just wanted to check my mortgage chances at the end of October? Will that 1 remaining default ruin my chances even though it has been paid?
Thanks
Sara (Debt Camel) says
It’s not just your credit record that is a problem. An old paid default should be OK> but if you are still paying unsettled defaults (and is the CCJ settled?) then that will show on your bank statements and may cause a problem. You want all your defaulted debts settled, on you credit record or not.
Alan says
Hi
I had a lot of defaults from 2013, most of which have dropped off my credit report. I final default is coming off around January next year. I have a couple of credit cards and a loan I have just paid off. My credit score is slowly going out. Once this final default is removed, should I see a significant improvement in my credit score?
Sara (Debt Camel) says
Probably! But are there any missed payments or payment arrangements showing? And your credit cards, is your balance using a lit of the credit limit?
Alan says
Once this default is removed I have no late payments or any issues with any credit accounts. Everything else is up to date with no missed payments and I have high credit limits and are well within them. My Experian score is only 658 out of 999 – poor. I read that a default deducts 300 points which is reduced to 250 after 2 years and 200 after 4 years. Based on this, does my score go up by 200 when its removed?
Sara (Debt Camel) says
It should be something like that! Come back and say what actually happened… It is going to help your score if you can get the credit balances down to under 30% of your credit limit, see https://debtcamel.co.uk/credit-score-change/
Alan says
Hi
Just to let you know that my final default has been removed and my score increased by 120 points.
Thanks
Gemma Bradley says
Hi,
I have a defaulted overdraft that is due to drop off my credit report 1 year from now. The original amount was £2001. I was paying £1 per month for several years and more recently after clearing other debts I have upped the monthly payment, the debt now stands at £1740. I will be increasing the monthly payment and should clear another £200 min by the time the 6 years is up.
My question is, how likely is it that the collection agency (Moorcroft) will pursue a CCJ as I am continuing to repay and also making efforts to up the payments? I have never actually spoken to them and they don’t have my current address.
Thanks in advance.
Gemma
Sara (Debt Camel) says
Sounds unlikely to me if you have recently increased your payments. Is there a particular reason you are worried about this?
Gemma Bradley says
I am just inexperienced in the matter and don’t want to end up with another 6 years of bad credit as it has been difficult. I had to resign from my business on paper so my business partner could open a bank account without me- I don’t want to continue to be a burden on the business like this and figure I have a year to think of solutions if this is very likely to happen. I will keep paying as much as I can and am due some tax back next year so will use that too to show even more willing before the end of the 6 years. Thanks Sara
Sara (Debt Camel) says
If you get a reasonable amount of tax back you can always offer a partial settlement. It will be off your credit record so this will never show.
Gemma Bradley says
No it will be £100 if im lucky. I’ve been thinking of other potential sources of money I can put towards it and best case scenario I will clear another £400 by the time the 6years are up and should be repaying £30 a month at that time, hopefully that will keep them at bay. I don’t have any contact with them and they have an old address so unless they track me down and offer a F&F I will avoid contacting them and keep paying it all off over the next 3 years. I wouldn’t be able to gather the cash for an F&F.
Thanks
Lewis says
I have had a default from 2016 pop up on my credit file, the lender has agreed to take it off a few days ago but its had not yet been removed, the problem is i have a mortgage broker waiting to put through the application for the mortgage but i need it to go to do so,
How long you think it takes to be removed as the lender said within 24 hours and it has now been over 48?
Sara (Debt Camel) says
if it is going through the normal procedure, sometime in the next month.
Lewis says
Ive just signed upto a few credit score sites and it has been removed, and my scores gone upto excellent! So good news, i think it was the site i was using may take a few weeks to update
jon says
I am currently in a DMP (debt level around 5k) and my defaults are approaching the 6 year mark this year , the earliest due to drop off is in March . I am desperate not to get a CCJ but cant afford to clear all the balances before then. I intend to clear the 4k within 2 years . Debts mostly two closed overdrafts and credit cards . What can I do not to get a CCJ ?
Sara (Debt Camel) says
Carry on paying the DMP!
ALEXANDER AUSTIN says
Hi Sara,
I have a default on my credit report which was originally registered on 2nd April 2014. Today 3rd April 2020 my new credit report came through and the default is still on the credit report. I also paid the default in full.
I thought defaults are automatically removed after 6 years? In my case this dosent appear so.
Please could you advise what I should do?
Thank you Alex
Sara (Debt Camel) says
what date does the credit report say the default is? what credit report are you looking at?
J says
I have a defaulted debt with Vodaphone. Date of default 02 May 2014. I used credit karma for credit report and noticed this defaulted account. I haven’t paid towards the account since early 2014. I have not contacted the company either by writing, email or phone about this account. At the time I couldnt remember it so queried it through trans union as not recognizing the account. I later remembered what the debt was for. So I now know it is my debt. I was wondering if my querying of this debt, through the credit agency, counts as ‘acknowledging the debt’ as I was told that after six years it becomes barred and will eventually be taken off my credit report if I haven’t ‘acknowledged the debt’ I have a current contract with Vodaphone and they have not sent any letters about this old debt, this may change due to querying it. I would like to pay the debt but am worried if I make a payment before May 2020 that it will stay on my credit report for a further 6 years.
Also if this defaulted account is removed from my credit report, would it likely drop off the report in June/July?
Also does querying the account through Trans Union, via my credit report with credit karma, count as acknowledging the debt? Thank you for responding
Sara (Debt Camel) says
So I now know it is my debt.
So you now remember you had Voaphone account. But do you remember leaving an account unpaid? How large its the debt?
If there is a default on the debt it will drop off 6 years after that whatever you do.
Checking a credit record does not count as acknowledging a debt.
A says
Hi Sara,
I had such a bad time in 2017 and ended up with around 6 defaulted accounts.
My credit score is the lowest it can be on 96.
I read somewhere that even with defaults after I think 3 years your score will improve a little and so on.
Is this true? I don’t know what to do to improve this score. I can get no credit at all to Improve the score. I need to rent a house this year as I will have nowhere to live but I’m scared I will be rejected to rent because of this.
Xx
Sara (Debt Camel) says
Are you repaying the defaulted debts? What sort of debts are they, loans, catalogues?
Do you have any spare income at all?
Old defaults matter a bit less, but with 6 defaults your credit score is always going to be bad.
A says
They were payday loans. I couldn’t afford to pay them at once so I had multiple defaults from the same company for different loans.
I paid them all back now I just have one left that I am paying.
I just feel so low now. Knowing these things that happened when I was in my early 20s is going to effect me forever is more than I can bare sometimes.
X
Sara (Debt Camel) says
Well done for escaping from the payday loan trap!
I suggest you read https://debtcamel.co.uk/payday-loan-refunds/ and send them affordability complaints.
If you win a complaint, you will get back any interest you paid but also any negative marks will be deleted from your credit record.
Sara (Debt Camel) says
It also not forever. Defaults drop off after 6 years.
If you really have some spare money each month, you could look at a monthly saving plan from LOQBOX. See https://debtcamel.co.uk/loqbox/. You don’t get any interest on your savings but it set up as though you are repaying a debt, so it helps your credit score. By itself it won’t make a huge difference but baby steps in the right direction.
A says
Thank you, that’s made me feel a little better. So after six years will my credit report go up significantly? Xxx
Sara (Debt Camel) says
6 years after the default date, a debt drops off. It’s a long while but not a life sentence!
Fee says
Hi Sara
I wanted to know if a default is a public record please? I know a ccj is a public record, but I cant find a definite answer to whether a default is public. Thank you .
Sara (Debt Camel) says
Why does this matter to you? I am asking as you may not have phrased your question quite right, so knowing the background would be helpful.
Raul says
Hi Sarah, I was hoping to seek clarity on a point.
I defaulted on a credit card debt of £3000 3 years ago, I buried my head in the sand for 3 years, paid nothing and it has now been sold onto Cabot. I’ve had zero contact with either the original CC company or Cabot.
As I understand in 3 years time this debt will fall off (barring a CCJ application) and my credit score should improve.
Would there be any advantage to my credit score of engaging with Cabot and trying to come up with a plan (I assume they would insist on this being over a max of 3 years to stop someone stopping paying 6 years after the initial default) ie if I make some payments for the next 3 years would my score go up, or would it remain the same as if I had not made any payments and try to hold out or the 6 years.
Thanks you so much
Sara (Debt Camel) says
This article looks at your situation: https://debtcamel.co.uk/no-calls-or-letters-about-debt/.
Stephen Thompson says
Hello Sara
I have 2 defaults with Nationwide. One ends in July 2021 and the other in April 2022. I missed payments on both accounts, overdraft and loan, at the same time. And began paying off the debts at the same time via DMP. How can both be registered/dated so differently as defaults. I am aware of the implications of getting good credit until such time they are fully removed. I have four other defaults (different banks), which are due to end between Feb-June 202. Can I challenge Nationwide about the date/variation of the defaults?
Thanks
ST
Sara (Debt Camel) says
I have four other defaults (different banks), which are due to end between Feb-June 202.
2021? or 2022?
Is the nationwide loan or overdraft the later default? I bet it’s the overdraft…
what date did you start your DMP?
ST says
Hello Sara,
It is Feb-June 2021. And yes it’s the overdraft. I started DMP on 1 May 2015. Both accounts are now settled.
Thanks
ST
Sara (Debt Camel) says
Overdrafts are more difficult as there are no set repayments each month so how can your bank tell if you have stopped making any payments because you are in difficulty or because you just haven’t used that account for a few months…
But the fact you included the overdraft in your DMP should have been a big clue to nationwide that you were in difficulty. So I suggest you ask nationwide to backdate the date of the overdraft default.
ST says
Hello Sara,
I can hear their arguments already, although I believe I have a strong case given the DMP. After the DPM started I made a complaint about the overdraft facility as I was in a bad place and I used it erratically, I.e. balance increases 3/5 times per day up to and including £5 thousand. Needless to say they rejected my complaint.
Thanks
ST says
Hello Sara
It Feb-June 2021. And yes it is the overdraft. I read they have different processes however it seems grossly unfair. DMP started on 01.05.2015. Both accounts are now settled.
Thanks
ST
Alex says
Hi Sara,
I have recently looked into my credit score on clear score, i have an open defaulted account with EE it says current amount £711, first default was feb 2015, last updated 14th july 2015, Would this balance be the balance if i contacted them to pay it or will they sting me for more?
Obviously it is due to clear off in a year, if i call them to pay and ask for maybe a payment plan as i dont want this to turn into a ccj will it still clear on my report in 2020 or will make the 6 years start again?
Thank you!
Sara (Debt Camel) says
Would this balance be the balance if i contacted them to pay it or will they sting me for more?
I don’t know. credit records aren’t a completely reliable way of telling how much you owe.
will it still clear on my report in 2020
if the default date on your credit record is feb15 then it will clear from your credit report in feb21, not 2020. This will happen whatever you do – pay it or not, contact them or not.
But paying it will stop it turning into a CCJ.
Alex says
Thank you so much, i did mean 2021. I was worried if i contact them etc it will go from this date as ideally id like it not to go into a ccj later.
Thank you again
Sara (Debt Camel) says
If you set up a payment plan the debt is till going to drop off then.
Richard says
Hi Sara
I have defaults from 2015 that I havent paid anything of. If these drop off my file to does the dept still exist? What are my options?
Many thanks
Sara (Debt Camel) says
The defaults WILL go 6 years after the default date on the credit record.
I suggest you read https://debtcamel.co.uk/no-calls-or-letters-about-debt/ which looks at your situation.
Jordan says
Hi Sara
In 2015 I opened a 5k account with a credit union after many years as a regular saver. Unfortunately I started to default in March 2016 where we then had no contact. 1 year ago Credit Union made contact with me and I started to pay a £50 payment per month that I have payed since.
Credit Union have changed the status of the account from default to late payments 3 months ago. I have raised a dispute with Experian of which i am a member to have this amended to default again in order to have the default automatically removed in March 2022.
As such, I am half way through my Uni course and (all going to plan) will graduate July 2022 where i will complete a pre-reg year thereafter. It would be during this year (i.e Aug 2022-23) that I would be looking to apply for a mortgagde (deposit dependant of course).
Am I right in thinking that 1) I should continue to pay the new agreement of £50pcm to maintain a relationship and avoid CCJ? Even after the 6 year mark 2) Can Credit Union object to changing the account back to default? Or do anything else to my file if I continue to pay this sum? 3) The balance stands at 3.5k so I understand that the £50 will take a LONG time to pay. Would settling this make any difference at all ?? 4) In terms of mortgage applications can the process be started at the earliest in April 2022?
I hope that makes sense!
Thanks so much
Best
Jordan
Sara (Debt Camel) says
Yes you should carry on paying, even after the 6 year point, assuming £50 is affordable. Otherwise you risk a CCJ
The CU should not have removed the default from what you say. But Experian will probably just pass your dispute to the CU, CRAs are usually useless in this situation. You need to complain to the CU and get them to put the default back – and take your complaint to the Ombudsman if the CU refuse.
But the balance needs to be settled before you apply for a mortgage. You could offer a settlement amount, I don’t know if the CU will accept. But you are unlikely to get a mortgage until this is repaid so you can’t just wait until it drops off your credit record, at that point the mortgage lender will still be able to see it on your bank statements.
Jordan says
Hi Sara
Thank you for help.
Great advice about the CRA not being much use about the dispute- i have just signed with Equifax so will cancel at the end of the free period and I will contact Credit Union to get them to revert back to default. Hopefully this can remain amicable without the need for the Ombudsman, but I’m glad to know that would be my next step. Thanks again.
Didn’t know the balance needs settled before the mortgage can be drawn. I was hoping that because i am still in contact and paying off the debt that the lender would accept this. I don’t understand much about the mortgage process as I am in the early planning stages getting my finances in order now so that when the time comes I’m ready. I have no other defaults or missed payments and have successfully taken and payed personal loans in full during this time.
In terms of offering a settlement, i agree that Credit Union may not accept anything less than the full balance. Best case scenario? If i were to arrange something with CU.. for how long would this need to be settled before the mortgage could be processed? Or is it immediate from after the 6 years when it would stop appearing on my bank statements.
Thanks again
Jordan
Sara (Debt Camel) says
Ideally you need 6 months clear, as you may be asked for 6 months of bank statements. But this is a way off, so talk to a mortgage broker at the time as things may be different in a few years.
Martin Walker says
Hi, I have an unsatisfied ccj from 2015 for 20k my question is. The judgement date is November 2015 but the default date is July 2015 which date do I expect the ccj to be removed from my credit file.
Regards
Sara (Debt Camel) says
The debt will go in July 21 and the CCJ in November 21.
Martin Walker says
Thanks Sara, is there anything I can do to contest the ccj at this stage? The ccj was felt with in my absence I didn’t no it was going to court I know it’s years since it received the ccj but it is having a negative effect on my credit file and I would like to buy a house in the near future hopefully. Or would I be better off leaving it until it naturally falls off my credit file? Appreciate the help and advice.
Sara (Debt Camel) says
CCJs really need to be contested as soon as you know about them. It would cost you £255 to Apply to get the CCJ set aside. And if you succeeded, unless you could pay off the debt in full, the creditor may just start another court case…
Unless you think the default was wrong eg you never owed the money, then getting rid of the CCJ would really only improve your credit record for the time between July and Nov 2021.
If you want to know more about contesting the CCJ, talk to Natiuonal Debtline on 08088084000
Achantele says
Hi, i have defaults due to drop off around july-oct 2021 all are satisfied.
However also have closed accounts which are old with missed payments not defaults.. all satisfied too so my query is when do the come idd my account the start date or the date i satisfied them? For eg the debt was from 2015 but i cleared all debts in 2017 on my report. Will they come off 2021 or 2023?
Sara (Debt Camel) says
closed accounts drop off 6 years after the debt was settled.
Paulos says
Hi i have are bad records but i payed everything only one saying RMC2 I don’t know what does it’s means this year is 6 years so i don’t know what’s going on
Sara (Debt Camel) says
Sorry I don’t know what you are looking at.
William says
Hi I have 2 Defaults from June 2014 and they are still showing on my Equafax report should this be and if not what should I do about it?
Sara (Debt Camel) says
which report are you looking at?
Simon says
Hi Sara,
I started my trial month on Experian to see why i have such a bad score, appreantly a CCJ was granted by Northamption Court regarding a non council parking fine. it was issued in September 2018 to my previous address which i moved out from in June 2018. What could i do to get this removed from my account?
Thanks
Si
Sara (Debt Camel) says
See https://debtcamel.co.uk/help-ccj/ and talk to National Debtline on 0808 808 4000.
Tracy Mulholland says
Hi Sara,
I have a CCJ that was filed in may 2016 for just over £600. I have paid this off and can prove the payments through the bank. But when I tried to get it marked as ‘settled, the company seems to of gone into administration. I spoke to Nottingham court but they say that the company has to send the information regarding the debt. Is there anything I can do about this?
Thanks
Tracy
Sara (Debt Camel) says
You can apply for a certificate of satisfaction , see https://debtcamel.co.uk/paid-ccj-satisfied/, it will cost£15. It’s up to you if you think this is worth it.
Han says
Hi,
I am looking to apply for a mortgage soon and opened all 3 reports with total money, Experian and Equifax. All different scores. One thing I noticed was 2 missed payments from jul and Aug 14 which I didn’t know I had, everything else all seems fine. The account was closed in October 15…will it be 2021 when this comes off or August this year as they were missed payments?
Sara (Debt Camel) says
Oct 21.
But a couple of missed payments that old may not be a problem now for a mortgage application if your deposit and affordability is OK.
Han says
Hi Sara,
Thanks for getting back to me so quickly.
Could you clarify why my scores are so different.
Experian 995
Equifax 365
Total Money 609
I’ve noticed that my electoral role in for isn’t on any of them which I’ve sent across as I am on electoral roll at my address so requested all are updated with home address and that I am infact on register. Will this help?
Sara (Debt Camel) says
See https://debtcamel.co.uk/experian-or-equifax-which-is-best/for why the scores are different. Being on the electoral roll adds a tiny bit to your credit score.
Matt Ashcroft says
Hello Sara, I am glad I found this! After my divorce and redundancy I got into real trouble around 30K I have 7 credit card debts and one bank overdraft debt that have on the most part been passed over to the likes of Moorcroft,Wescot etc. I have been paying small anounts on each on a plan helped by mymoneysteps. I partly own a house with my ex wife that is up for sale and I am due money from the sale. I have two questions, how do I find out when the original 6 year default runs from? They were all around the same time 2014. And once the default drops off, do I have to keep paying the plans? Some keep sending me settlement letters is this due to the 6 yr getting close? Thanks
Sara (Debt Camel) says
how do I find out when the original 6 year default runs from
look at your credit records, the default date should be on there.
once the default drops off, do I have to keep paying the plans?
yes, see https://debtcamel.co.uk/debt-not-on-my-credit-file/
Some keep sending me settlement letters is this due to the 6 yr getting close?
Possibly but it can equally be because the debt is getting old so your situation may have changed and you may be able to offer a partial settlement. If they are offering a low settlement which you can afford, this can be a good option, the debt will still go from your credit record if there is a default date on it. But don’t stretch to pay more than you can afford!
Matt ashcroft says
Thats great thank you. One of the default dates is 2016 but I know it must be earlier. Once the default has gone does the debt disappear off the file, so not effecting future borrowing?
Sara (Debt Camel) says
6 years after the default date on the ceredit record, the whole record is deleted.
It will then only affect future borrowing if a lender looks at what you are actually spending eg by looking at bank statements or open banking.
Matt Ashcroft says
Thank you! Sorry to be a pain, but if I do not agree with the default date ie I believe it was earlier what do I do? Comtact the original lender and get the details of when they first recorded it?
This could make a huge difference to me as I will pay them back soon, and need to sort these defaults out. Thank you again!
Sara (Debt Camel) says
Yes, ask the original lender.