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  • FIRST POST
    • Tashajm
    • By Tashajm 6th Jul 17, 11:50 AM
    • 2Posts
    • 0Thanks
    Tashajm
    Settled Default
    • #1
    • 6th Jul 17, 11:50 AM
    Settled Default 6th Jul 17 at 11:50 AM
    Hi. New to this. Can anyone tell me how a settled default will affect my credit and future lending. I have a small (£22) settled default for unpaid mail order that has appeared on my file in April.

    In particular I was looking to try to move my mortgage to a lower rate as per a post I saw from Martin yesterday. This made me look at my credit file which is how this default has then come to my attention.

    Thanks
Page 1
    • zx81
    • By zx81 6th Jul 17, 12:22 PM
    • 14,100 Posts
    • 14,785 Thanks
    zx81
    • #2
    • 6th Jul 17, 12:22 PM
    • #2
    • 6th Jul 17, 12:22 PM
    It would be better not to have a default.

    Given you have, the older it gets, the better.
    • Candyapple
    • By Candyapple 6th Jul 17, 1:18 PM
    • 2,480 Posts
    • 1,851 Thanks
    Candyapple
    • #3
    • 6th Jul 17, 1:18 PM
    • #3
    • 6th Jul 17, 1:18 PM
    Hi. New to this. Can anyone tell me how a settled default will affect my credit and future lending. I have a small (£22) settled default for unpaid mail order that has appeared on my file in April.

    In particular I was looking to try to move my mortgage to a lower rate as per a post I saw from Martin yesterday. This made me look at my credit file which is how this default has then come to my attention.

    Thanks
    Originally posted by Tashajm
    If the default is dated April 2017 then good luck because you're gonna need it!

    You need to speak to a broker because you'll need one to help you find a lender that would take you on.

    The free versions to check your credit files are below:
    Experian: www.moneysavingexpert.com/creditclub
    Equifax: www.clearscore.com
    Call Credit: www.noddle.co.uk
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • Tashajm
    • By Tashajm 7th Jul 17, 8:42 PM
    • 2 Posts
    • 0 Thanks
    Tashajm
    • #4
    • 7th Jul 17, 8:42 PM
    • #4
    • 7th Jul 17, 8:42 PM
    Thanks! The default is April17. Never had anything negative on my file hence my asking what it would affect and by the replies it's obviously something that lenders will now see me as a 'no go'. I shall stick with mortgage as it stands. Am also on maternity leave right now so that'll be another reason to not be able to get a new deal.
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