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    • wharty
    • By wharty 4th Dec 17, 2:46 PM
    • 356Posts
    • 634Thanks
    wharty
    What is a clean credit file?
    • #1
    • 4th Dec 17, 2:46 PM
    What is a clean credit file? 4th Dec 17 at 2:46 PM
    Hi

    I was made bankrupt in 2013 with my wife.

    We are looking at cleaning our credit files and I want to know what "Clean" is?

    Is a file clean as long as the defaults are "settled" or "partially settled"?

    Or, is it only clean when the accounts are all off my credit file?

    The reason i ask is that i have a number of accounts that were not in default (pre bankruptcy) and say "settled" the same as an account that was defaulted and included in our bankruptcy.

    To me my defaulted and settled accounts that were included in bankruptcy don't seem any different to those settled without defaults and before bankruptcy.

    I'm hoping a clean credit file is something where the defaults etc are all classed as settled or partially settled.

    Hope that makes sense, thanks.
Page 1
    • Carrot007
    • By Carrot007 4th Dec 17, 2:52 PM
    • 744 Posts
    • 605 Thanks
    Carrot007
    • #2
    • 4th Dec 17, 2:52 PM
    • #2
    • 4th Dec 17, 2:52 PM
    Clean is when the defaulted drop off by any sane measurement.

    However having a clean file does nothing for you. What are you wanting to do?

    Mortgage? With all defaults over 3 years you will still get a fairly good rate.
    • wharty
    • By wharty 4th Dec 17, 6:15 PM
    • 356 Posts
    • 634 Thanks
    wharty
    • #3
    • 4th Dec 17, 6:15 PM
    • #3
    • 4th Dec 17, 6:15 PM
    Clean is when the defaulted drop off by any sane measurement.

    However having a clean file does nothing for you. What are you wanting to do?

    Mortgage? With all defaults over 3 years you will still get a fairly good rate.
    Originally posted by Carrot007
    For the time being we are trying to clean our credit reports for the purpose of maybe applying for a mortgage next year.

    I was under the impression it had to be clean to apply for a mortgage, are you saying it doesn't?

    I thought everything had to say "settled" or "partially settled" for it to be classed as clean?

    I only have one creditor (PCO Hold co Sarl) that is still defaulting) and my wife has the same plus Halifax still defaulting.

    Its nearly 3.5 years since discharge, do you think we can apply for a mortgage even with the defaults?

    Thanks.
    • zx81
    • By zx81 4th Dec 17, 6:18 PM
    • 14,389 Posts
    • 15,183 Thanks
    zx81
    • #4
    • 4th Dec 17, 6:18 PM
    • #4
    • 4th Dec 17, 6:18 PM

    I was under the impression it had to be clean to apply for a mortgage, are you saying it doesn't?
    Originally posted by wharty
    You can apply for a mortgage whenever you want. Whether you will get one, depends on your credit file files and lender criteria, as well as the other aspects of your application.

    Clean is not an absolute term and certainly has no defined meaning in the way you think.
    • wharty
    • By wharty 6th Dec 17, 3:59 AM
    • 356 Posts
    • 634 Thanks
    wharty
    • #5
    • 6th Dec 17, 3:59 AM
    • #5
    • 6th Dec 17, 3:59 AM
    Ok, so I guess I'm just gonna hope I can get things settled or partially settled and hope for the best! Once the bankruptcy is gone it will be a lot easier I hope.
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