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  • FIRST POST
    • anniec19
    • By anniec19 9th Oct 16, 3:08 PM
    • 42Posts
    • 24Thanks
    anniec19
    Defaults & credit file
    • #1
    • 9th Oct 16, 3:08 PM
    Defaults & credit file 9th Oct 16 at 3:08 PM
    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
Page 1
    • sourcrates
    • By sourcrates 9th Oct 16, 3:36 PM
    • 8,380 Posts
    • 8,211 Thanks
    sourcrates
    • #2
    • 9th Oct 16, 3:36 PM
    • #2
    • 9th Oct 16, 3:36 PM
    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.

    For free debt advice please call National Debtline on
    0808 808 4000
    Monday to Friday
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    • paddyposh
    • By paddyposh 10th Oct 16, 9:00 AM
    • 291 Posts
    • 126 Thanks
    paddyposh
    • #3
    • 10th Oct 16, 9:00 AM
    • #3
    • 10th Oct 16, 9:00 AM
    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
    • By MrsTinks 10th Oct 16, 9:58 AM
    • 14,585 Posts
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    MrsTinks
    • #4
    • 10th Oct 16, 9:58 AM
    • #4
    • 10th Oct 16, 9:58 AM
    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?
    DFW Nerd #025
    SPC member #561
    Sept 2016 - £10811 Oct £10166 to clear Cleared Since Sept 16:£645 6% repaid Declutter 25 items in November target: 0/25 Make £10 extra a day in November: £57/£150
    • paddyposh
    • By paddyposh 10th Oct 16, 11:03 AM
    • 291 Posts
    • 126 Thanks
    paddyposh
    • #5
    • 10th Oct 16, 11:03 AM
    • #5
    • 10th Oct 16, 11:03 AM
    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?
    Originally posted by MrsTinks
    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
    • By glentoran99 10th Oct 16, 11:05 AM
    • 3,718 Posts
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    glentoran99
    • #6
    • 10th Oct 16, 11:05 AM
    • #6
    • 10th Oct 16, 11:05 AM
    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.
    Originally posted by paddyposh


    They would see the payments on your bank statement
    • sourcrates
    • By sourcrates 10th Oct 16, 12:17 PM
    • 8,380 Posts
    • 8,211 Thanks
    sourcrates
    • #7
    • 10th Oct 16, 12:17 PM
    • #7
    • 10th Oct 16, 12:17 PM
    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.

    For free debt advice please call National Debtline on
    0808 808 4000
    Monday to Friday
    9am to 9pm
    Saturday 9.30am to 1pm
    • MrsTinks
    • By MrsTinks 10th Oct 16, 1:33 PM
    • 14,585 Posts
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    MrsTinks
    • #8
    • 10th Oct 16, 1:33 PM
    • #8
    • 10th Oct 16, 1:33 PM
    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
    SPC member #561
    Sept 2016 - £10811 Oct £10166 to clear Cleared Since Sept 16:£645 6% repaid Declutter 25 items in November target: 0/25 Make £10 extra a day in November: £57/£150
    • paddyposh
    • By paddyposh 10th Oct 16, 1:49 PM
    • 291 Posts
    • 126 Thanks
    paddyposh
    • #9
    • 10th Oct 16, 1:49 PM
    • #9
    • 10th Oct 16, 1:49 PM
    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
    • By glentoran99 10th Oct 16, 3:07 PM
    • 3,718 Posts
    • 2,576 Thanks
    glentoran99
    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.
    Originally posted by sourcrates


    They asked me recently
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