Defaults & credit file

anniec19
anniec19 Posts: 43 Forumite
First Anniversary Combo Breaker
in Debt-free wannabe
Default Defaults
Hi
Sorry if this is a dumb question. I am currently on a DMP which has ages left to go. My credit file still has 6 defaults showing. These were all registered in 2011 so I'm hoping these will drop off next year. Am I right in thinking that this will happen even though the accounts are still open?
My score is gradually going up on noddle and clearsc pretty but it's still pretty bad. Will I have to clear the DMP before I can have a decent score again??
Thanks in advance :)

Comments

  • sourcrates
    sourcrates Posts: 28,876 Ambassador
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    Yes defaults stay on your file 6 years regardless.

    Why do you want a "decent" credit score again ?

    It only matters should you want to borrow again, and then it's your credit history, not credit score, that's of importance.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • paddyposh
    paddyposh Posts: 412 Forumite
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    Would past defaults (if dropped off after 6 years), show up/be seen and taken into consideration if applying for a mortgage?

    I know myself, and others I know that have them, want to get a mortgage in a few years once the defaults have gone, so just wanted to check?
  • MrsTinks
    MrsTinks Posts: 15,241 Forumite
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    When you apply for a mortgage they would ask you about any debts you have, I expect you would need to disclose them at this point. Ultimately you could argue that you wouldn't be able to save up a deposit amount whilst you were paying a DMP or those payments should be going towards settling this quicker?
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  • paddyposh
    paddyposh Posts: 412 Forumite
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    MrsTinks wrote: »
    When you apply for a mortgage they would ask you about any debts you have, I expect you would need to disclose them at this point. Ultimately you could argue that you wouldn't be able to save up a deposit amount whilst you were paying a DMP or those payments should be going towards settling this quicker?

    But if it was after they dropped off, would I have to disclose? As they wouldnt see them when doing a credit check?

    Only asking as I would like a mortgage at some point and not sure how old defaults would affect it if they have dropped of my record.
  • glentoran99
    glentoran99 Posts: 5,821 Forumite
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    paddyposh wrote: »
    But if it was after they dropped off, would I have to disclose? As they wouldnt see them when doing a credit check?

    Only asking as I would like a mortgage at some point and not sure how old defaults would affect it if they have dropped of my record.



    They would see the payments on your bank statement
  • sourcrates
    sourcrates Posts: 28,876 Ambassador
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    When making a mortgage application are you asked about defaults ?

    I know they ask if you've ever been Bankrupt, or insolvent.

    Once a default has gone from your file, its gone forever, as though it never existed, it could only be seen if you had an earlier copy of your credit report.

    The lender wont have access to any more information than you do.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • MrsTinks
    MrsTinks Posts: 15,241 Forumite
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    They definitely ask you about any other debt or financial out goings - they do affordability checks and I wouldn't recommend lying to them...

    This is my personal views btw but surely you should be focusing on repaying the DMPs and THEN save up and get a mortgage? Isn't part of your DMP that you aren't supposed to take out new debt whilst you're in the DMP?

    Will the defaults show up? no - I don't expect they will. However they will ask you about what you spend your money on. And whilst I can only speak for my independent adviser then she even made us consider if we were likely to have more children during the fixed term of the mortgage and how that might affect our outgoings (child care) and so on. She DEFINITELY went through our SOA and I believe that a mortgage offer has certain stipulations... you may however be better off asking this on the mortgage board? :)
    DFW Nerd #025
    DFW no more! Officially debt free 2017 - now joining the MFW's! :)

    My DFW Diary - blah- mildly funny stuff about my journey
  • paddyposh
    paddyposh Posts: 412 Forumite
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    Thanks, sorry btw, I just asked as it was mentioned, but yes a good idea :)

    Also, I am going to try and pay off everything or nearly all before saving yes :)
  • glentoran99
    glentoran99 Posts: 5,821 Forumite
    First Anniversary Combo Breaker First Post Debt-free and Proud!
    sourcrates wrote: »
    When making a mortgage application are you asked about defaults ?

    I know they ask if you've ever been Bankrupt, or insolvent.

    Once a default has gone from your file, its gone forever, as though it never existed, it could only be seen if you had an earlier copy of your credit report.

    The lender wont have access to any more information than you do.



    They asked me recently
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